Wednesday, June 18, 2008

WaPo Editorial Slams Dems on Failed Energy Bill

The Washington Post takes the position that it was "just as well" that the Democrats' energy bill died in the Senate last week.

As Senate Republican Leader Mitch McConnell noted at the time, the Democrats' bill would have raised the cost of energy -- by a huge margin -- on top of the price increases that already burden consumers.

The Post notes, moreover, that the bill was mostly "just election-year symbolism."

Several provisions, such as a Justice Department investigation of the Organization of the Petroleum Exporting Countries, a windfall profits tax and an end to certain oil industry tax breaks, might have stuck it to alleged culprits, but they would have had little or no impact on prices at the gas pump.

My favorite line of the editorial tracks what McConnell has said verbatim -- "Congress cannot repeal the law of supply and demand. "

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