This morning while doing some chores around my apartment, I had FoxNews on as the network broadcast the President’s talk In St. Louis.
From a brief few moments, I was impressed by the clarity of his expression (yet did hear a few of his characteristically awkward turns of phrase). He said gas prices were so high in part because of policies which “prevent us from looking for oil in our own land.” (I believe this to be an accurate quote, but was not taking notes as I watched, recording it only later.) He also talked about the increase in world demand for oil and noted that we had built no new refineries since 1976.*
The president is right. There are a number of factors contributing to high oil prices. And while Congress (and all too many Americans) blame the president, he is not entirely responsible for this increase. But, of course, when things go wrong, we blame the incumbent Administration, even in situations when it bears little responsibility for the state of affairs.
If the president failed at all on this score, it was in not pushing hard enough to increase oil exploration in our own lands (especially in Alaska) and to repeal regulation which made it difficult to search for new domestic sources of oil and natural gas and which prevent the construction of new refineries.
Even as the president acknowledges “that the economy is not as robust as it needs to be,” its is not in as dire streets as the Democrats (and some in the MSM) claim. The latest employment numbers show a smaller loss of jobs than anticipated, suggesting that “economy might be resisting falling into recession.”
*In other words, the solution is not increased regulation as the Democrats propose, but deregulation which John McCain largely supports.