CRP Blog

Friday, June 27, 2008

Dr. NObama

Barack Obama has a pretty consistent answer when it comes to sensible solutions to reducing energy prices: No.

The Republican National Committee launched a special website "Dr. NObama" specifically to highlight the Democrat nominee's opposition to just about every good idea to increase energy supplies and reduce upward pressure on prices.

Obama relies on rhetorical slight of hand when he attempts to shoot down common sense ideas to bring energy supply and demand back into balance. As the video footage on the Dr. NObama site shows, Obama excuses himself for opposing increased drilling by claiming such measures "will not lower gas prices today." (emphasis added) This is a classic rhetorical technique which attempts to dismiss any idea that does not reach an artifically high standard for success. In other words, solutions that may not have an immediate effect should not be tried at all. It's a weak technique used when you don't have anything else to fall back on.

Worse, Obama again demonstrates his lack of understanding in how markets work. The market is an anticipatory mechanism. That is, markets take into account future supply and demand when determining pricing, and investments. We see this all the time when the shutdown of a refinery or a hurricane in the Gulf of Mexico produces an immediate price spike in the commodities markets even before supply is impacted. Similarly, if America were to embark on a serious and credible program to increase energy supplies, you would see an immediate discount in pricing as dollars flow into other areas.

Visit the Dr. Nobama site for more background on Obama's opposition to improving America's energy security.

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