The President was spot on today speaking to the Renewable Fuels Association he outlined and reiterated several key policy objectives, most notably getting to supplies underneath our own soil and streamlining to under one year the length of time for licensing new refineries.
The President also didn’t say something he should have – he needs to sign an Emergency Executive Orders to open up ANWR and suspend rules on refinery licensing. If he did this crude oil prices would plummet – even before domestic supplies hit the market.
Democrats and some really, really stupid Republicans today called for a "windfall tax" on oil companies. Its not any small wonder they don’t stand much of a chance of taking over the House this fall. Not only that, but its DEMOCRATS that obstruct EVERY effort to create additional domestic supply. They’ve got a lot of nerve.
In the end, all the huffing and puffing by everyone is merely to conceal the fact that once again, politicians are a reactive, not a proactive group. We would have solved the supply and refinery capacity issue a long time ago with leadership from either of the political parties.