The Week Ahead; Energy, Energy, Energy

By October 24, 2005Energy

Not sure how many people have to opine on the disastrous effects on the economy of soaring energy prices before people are jolted into action. Here’s an article from last week where no less an expert than Alan Greenspan painted a pretty bleak picture of the impact of energy prices on the economy in the near future. We’ll be keeping our eye on the energy target again this week. Last week, the Senate Energy and Natural Resources Committee approved exploration in the Arctic National Wildlife Refuge (ANWR). Remember, Alaskans favor this. It’s the enviros who want to interfere in their own will. Also, Rep. Richard Pombo (R-CA), chair of the House Resources Committee, is working on a bill that would open up the Outer Continental Shelf to exploration as well.

With energy prices soaring and everyone starting to realize what 30 years of poor decisions on energy (and being held hostage by a small band of radical environmentalists) have wrought, the time has finally come for some common-sense (and environmentally responsible) exploration of heretofore off-limits sites. The Wall Street Journal editorial we cite below noted that the recent energy bill that passed was aimed at what it called, “the real problem: government barriers to supply.” As was evident from the “Blog Row” on Capitol Hill last week, Members of Congress are realizing that they need to speed the permitting process and streamline the regulatory process if we have any hope of increasing the supply of energy. We need efficiency, sure, but we need more supply.

So watch this space in the days ahead for some action steps, when you can weigh in with your Senators and Members of Congress and urge them to do something about the supply side on energy so we can hope to begin to see energy prices level off in our lifetime.