The Drill Bit

Mitch McConnell suggests in the WSJ that—notwithstanding it being an election year, and all that—Congress might consider doing its job with respect to the energy crisis:

The Gas Price Reduction Act is composed of just a few ideas. But taken together, the proposals will address the problem head on. They include deep-sea exploration more than 50 miles off the coasts of the states that want it, lifting a ban on development of the promising and plentiful oil shale deposits in western states, and increased incentives for the development of plug-in electric cars and trucks. The bill also includes provisions to strengthen U.S. futures markets and guard against excessive speculation.

The Gas Price Reduction Act is a sensible approach to gas prices that squarely faces something too many in Washington would rather ignore: the law of supply and demand. Conservation is an idea that both parties support and both parties have addressed legislatively. But if prices are going to go down, supply has to go up too. This means Democrats will have to abandon their traditional opposition to domestic exploration by lifting a congressional ban on off-shore exploration.

Don’t forget the flex-fuel vehicles, guys: they’re just as essential as hybrids/electrics to the transition we’re entering. Probably more so. Unless you wanted to re-build the entire transportation infrastructure of this country from scratch? I didn’t think so . . .

(Cross-posted at Little Miss Attila.)

Via Hot Air.

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