Saturday, February 25, 2006

Bush and energy

There has been a lot of discussion about President Bush's "Advanced Energy Initiative" and his line that we are "addicted" to oil. No one seems to be pleased about this: conservative commentators think the market will take care of things, and more liberal pundits see this as woefully too little too late. Thus, Bush gets hammered on both sides for rhetoric without any substance. It seems to me when critics pile on like this, with both sides fuming over their own agenda, the President is probably doing something right. But, there's more. It's true that we are highly dependent on oil (I'll refrain from "addicted", but the rhetorical fireworks were a good way to get people's attention), and the sources of this oil supply often make us more vulnerable to other countries. Yes, I realize most of our imported oil is from Canada and that oil is a world wide commodity, so that purchases don't really come from any particular country. In spite of all this, Venezuela, among others, is able to threaten us with ceasing exports. Clearly, we are not as free as we think; therefore, something should be done. This is all in addition to the environmental impact of burning so much oil, another pressing reason to get on with innovation. And that is exactly what this plan proposes to do. The conservatives (as expressed by Tony Blankley on "Left, Right and Center") are right in that the market will control how we get our energy. The market, however, is at the mercy of its supply. If a certain product doesn't even exist, the market certainly can't favor it, no matter how wonderful it is. Therefore, it is prudent to avoid fighting the market with incentives and rebates while influencing it with innovation and alternatives. As far as I can tell, this plan aims to produce better and cheaper alternatives to oil so that the market will have the freedom o choose them down the road. There seems no way around it, oil prices will go up. I am pleased to see that a plan, no matter how little for now, is in place to give us an escape from our current situation. And the better the alternatives get, the quicker we can get out.

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