The Oil Drum

339 comments on DrumBeat: August 29, 2006

Comments can no longer be added to this story.

Glenn on August 29, 2006 - 9:38am

From that last article, I suspect this will be a growing theme as we head into and out of the Mid-term elections:

But businesses are reading the political tea leaves. Legislation to limit greenhouse gas emissions is gaining ground in Congress with members of both parties. States, especially California and those in the Northeast, are moving forward with climate-change regulations. Two likely presidential hopefuls for 2008 -- Republican Sen. John McCain of Arizona and Democratic Sen. Hillary Clinton of New York -- have called for reining in greenhouse gases.

This president has pretty much locked in his policies and said that we isn't going to change course. So everything now shifts to '08, when we will be in the 3rd year of persistently high gas prices, perhaps $4-6 a gallon for gas. Assuming the Republicans have an ultra slim majority in both houses, they will have to start working with the Dems more closely.

Comments can no longer be added to this story.

NeverLNG on August 29, 2006 - 11:02am

Possibly, if it is obvious to even the most oil-partisan folks that petroleum is in decline, they might be in a position to support "greenhouse gas" legislation to restrict, regulate and tax the hydrocarbon market. They could blame the need for this on the "environmentalists" but still remain in control as much as possible.

It's not like they are really ignorant of the realities on the ground. And they will work with "environmentalists" when it suits them -- and the "environmentalists" in turn have shown a willingness to be co-opted.