Out of Gas Without a Care
Happy Bastille Day. Have fun stormin’ the castle!
This week the International Energy Agency (IEA) tossed its hat into the 2009-2012 global crisis ring by predicting severe oil shortages
due to the global demand outstripping supply. European and Asian
financial papers treated this as a major story; in the US, it barely got a wimper, even though oil drives geopolitics for the next decade.
The majority of today’s show frames the U.S.’s energy situation and the fact congress is not only failing to move us toward energy independence but is actually heading in the wrong direction with carbon taxes, oil company penalties, complex regulation and other ill-advised policies. Sandy Bourne from the Heartland Institute and (www.heartland.org) and a fellow at the Independent Women’s Forum joins us.
It seems the Bush administration plans on a fake pullout from Iraq long enough to allow various Islamic factions to fight it out and then move back in for a pact with the winner. No matter what, we won’t be abandoning the bases there. We’ll hear a lot about "partition" as multiple Middle Eastern countries jump into the fray. John’s boralogue covers the scenario.