Disco. Gratuitous sideburns. The Houston Astros’ rainbow uniforms. These are mistakes of the 1970s.
According to a report from the Heritage Foundation, these pale in comparison to the mistakes made in the United States regarding energy policy at the time. The authors outline key concerns and caution us not to relive them by overreacting to today’s energy challenges.
What do you think? Should the government get so involved in these trying times or should we let the market run its course? Let us know in the comments section.
High gasoline prices have generated the greatest public anger since California’s Proposition 13 in 1978. So says Newt Gingrich (as offered in his May 30 speech to the Council of State Governments in Lexington, Kentucky). Many likely disagree with that statement, but Gingrich backs up his claim that "Washington does not have a clue" what to do.
He points out that:
The U.S. has three times the Saudi oil reserves in the Rocky Mountains
Kentucky has 27% of the world’s coal
Brazil is utiliziing two oil fields in the Atlantic, allowing it to be independent of the Middle East
The U.S. can’t explore anywhere — the Atlantic, Pacific or Gulf of Mexico
"What did we do? We passed a bill in Congress to sue OPEC"
Gingrich’s focus on November 6 at the Indiana Chamber’s 19th Annual Awards Dinner will undoubtedly be on Washington’s new leaders and solutions that hopefully are better than those currently offered.