Episode 27: Here come the thought police (5/29/08)
Thanks to Joe Lieberman, there's no need for us to form our own opinions. He'll take care of it for us. What a relief . . .
About 100 big rig drivers -- along with their trucks -- held a protest at the Capitol building in DC today. You can probably guess what it was about. High gasoline prices. Another protest is planned to take place on Wall Street on Thursday.
The soaring price of gas is one of those things that can rile up a citizenry precisely because it is sudden, drastic, and deeply affects them personally. Today's trucker protest may be just the beginning of some serious agitation.
Warning: If you're already agitated, what follows is something that definitely won't help your mood.
The truckers who circumnavigated Congress today were demanding, among other things, that the federal government release supplies from the Strategic Petroleum Reserve in a bid to drive down prices. More supply, lower prices, right? Many DC pols (Clinton, Pelosi, McCain) are calling for a pause in adding to the reserve, which is aimed at the same effect.
The Strategic Petroleum Reserve (SPR) was established in 1975 in the wake of the OPEC oil embargo. The intent, of course, is to keep in storage enough oil to see the country through another embargo or other sudden restriction in our imported oil supply. Probably not a bad idea, generally speaking.
The SPR -- four petroleum-filled salt caverns on the Gulf Coast in Texas and Louisiana, with a fifth to open soon in Mississippi -- currently holds over 700 million barrels of oil, enough to get through a two-month cutoff of imports. It's well over 95% full.
And yet, with the price at the pump jumping higher and faster than a startled cat, Bush is continuing to add oil to the reserve.
(The price jump, by the way, also affects the price we taxpayers are paying for the oil currently going into the reserve. Previous administrations' strategies have been to add to the reserve when prices were low.)
Not only is Bush paying a premium to keep adding to the SPR, according to a chart at the Dept of Energy's SPR website, over the coming months the plan is to increase the rate at which oil is being pumped into the SPR.
In all the articles I've read on this, the inevitable "experts" seem to agree that pausing additions to the SPR, or even releasing some of the reserves onto the market, would have but a modest effect on the price we pay at the corner station. So?
I'd think that Bush wouldn't mind a little positive PR in light of his historically low popularity ratings. Save us a dime a gallon, George, and you'd be a hero again in no time. (OK, not a hero, exactly. But 10% fewer people despising him is surely a worthwhile goal, isn't it?)
The SPR was established, remember, for two reasons. To get us through another oil embargo. Or some other sudden restriction in our imports.
Saudi Arabia and Iraq are not about to start an embargo against the US. Not with one enjoying the windfall profits they're making, and the other currently under military occupation by the US.
That leaves a sudden restriction in imported supplies as a possible explanation for why Bush continues to pump oil into salt caverns when the price is going crazy.
Who could suddenly constrict our imports? How about a retaliatory Iran, after Bush bombs the crap out of that country? All they'd have to do is sink one or two ships in the narrow Strait of Hormuz and there goes the entire Middle East oil supply. For a month or two.
Bush is getting ready.
During an interview yesterday with Keith Olbermann, Hillary Clinton provided this analysis of why it would be dangerous for Iran to develop a nuclear weapons capability:
. . . if Iran were to become a nuclear power it could set off an arms race that would be incredibly dangerous and destabilizing because the countries in the region are not going to want Iran to be the only nuclear power so I could imagine that they would be rushing to obtain nuclear weapons themselves. [Transcript at MSNBC]
This is not only wrong, it's a deliberate lie.
Iran would not, of course, be the only nuclear power in the region. Although Israel has never acknowledged possessing nuclear weapons and maintains a policy of strategic ambiguity, there is no doubt within the US government nor other nations that Israel does indeed have a substantial nuclear arsenal -- perhaps 200 to 300 warheads.
Now, Israel's strategy of strategic ambiguity may make some kind of sense, who knows? If you're going to muck about in the geopolitics of nuclear deterrence, certain things might make sense. It's a strange world.
For the most part, US political leaders have echoed Israel's ambiguous position. They shouldn't.
We're in the middle of a presidential election, potentially the most powerful expression of one of our basic rights -- voting.
A possible attack on Iran keeps popping up as a policy issue. The candidates, Congress, and we the people need to discuss this possibility of another war. For that conversation to happen honestly, a candidate for president should be utterly honest with the American people about the true nature of the situation in the region.
Pretending that Israel does not have nuclear weapons is not strategic ambiguity. It's a lie.
After discovering that the Democratic debate was not going to be aired live at 5:00 pm but tape delayed until 8:00 pm for us Left Coasters, my partner and I decided to visit a favorite Italian restaurant to kill the time.
I ordered the evening's special -- red snapper. I was served calamari. I should have sent it back, I know. I'm not a big fan of calamari. But the waiter offered a compromise -- no charge for my meal. So I ate the bland, dull, boring calamari.
Then it was back home to watch the big debate. And the very same thing happened. I had hoped for red snapper but got bland, dull, boring calamari.
No complimentary meals from ABC, though. Bland was the planned menu all along.
Waiter! There's a fly in my soup.
This was predictable. All too predictable.
Emergency Congressional legislation originally proposed to help people who may lose their homes as a result of predatory lending practices and the housing downturn, will now help . . . Are you ready for this?
Airlines, home builders [!], Ford, General Motors, American Airlines, Northwest Airlines, Goodyear Tire and Rubber, realtors, banks, manufacturers ...
The Senate and House are in overdrive to pass "housing" legislation before they adjourn so the individual members may campaign for re-election. The rush to adopt a "must-pass" bill (for election purposes only, not to really help people) opens the floodgates to corporate lobbyists.
Keeping people in their homes has become an afterthought. After all, folks on the verge of losing their homes can't exactly afford K Street lobbyists. But all manner of corporate interests can afford the tab. And the payoff is enormous.
Car manufacturers are looking at the possibility of rebate checks up to $40 million a pop. How's that look next to your $600 economic stimulus check? Home builders are due for millions more -- each! -- in rebates. (A refund of taxes previously paid on outlandish profits in the past few years.) Airlines and miscellaneous manufacturers are also in line for rebate checks.
All told, these latest corporate tax rebates currently stand at $6 billion. That's in addition to some $40 billion in business rebates that came with the initial economic stimulus package (the one where you and I get $600 each). No doubt there will be much more in the coming months for the pigs feeding at the Federal trough.
[NY Times, Big Tax Breaks for Businesses in Housing Bill, 4/15/08] The tax provisions of the Foreclosure Prevention Act, which consumer groups and labor leaders say amount to government handouts to big business, show how the credit crisis, while rattling the housing and financial markets, has created beneficiaries in the power corridors of Washington.
It also shows how legislation with a populist imperative offers a chance for lobbyists to press their clients’ interests.
And who, exactly, is looking out for our interests? Our elected representatives? Not so far. But that can change.
All you have to do is demand it. Don't ask, don't plead, don't request.
Demand.