Energy, Stimulus II, and Deficits
Energy: As I have told you before, I do not expect much action on anything in Washington prior to the election unless it is something with a looming deadline. Well, the big looming deadline on the energy front is the Sept. 30th expiration of the Congressional ban on offshore oil and gas drilling. The President has already removed his executive order ban so if the Congressional one expires, offshore drilling will be allowed nationwide on October 1st.
The way things work back here is that the majority party, whichever one that happens to be, does not like to let the minority party decide the fate of major issues. After all, the benefit of having the majority is that you get to decide those things and not the other guys. But sometimes, the majority is split on an issue and the minority is united. When that happens, the majority is in trouble because a floor vote will mean that the minority party breaks the tie amongst the majority and the "losers" within the majority will be very mad that their leadership let the other side push this issue away from their desire. This happened when Republicans were in charge and it is happening now with Democrats… Read More