Sunday, May 07, 2006

BushCo Has Been Exactly Wrong on Energy

When it comes to energy, there's smart money and dumb money. First an example of the smart money, via Business Wire:
SAN FRANCISCO--(BUSINESS WIRE)--May 5, 2006--Merriman Curhan Ford & Co. (MCF), a securities broker-dealer and investment bank, and subsidiary of MCF Corporation (AMEX:MEM), will launch today a tracking index focused on the Next-Generation Energy (NGE) sector. This innovative index will give investors a tool to track companies defining the non-hydrocarbon-based economy.
The Merriman Curhan Ford & Co. Next-Generation Index (SM) will be comprised of 30 small- and mid-cap U.S.-listed companies leading the important advances in the development and commercialization of five key NGE technology areas: fuel cells, solar power, alternative fuels, energy storage and other supporting technologies. Tracking begins today.
Compare with the dumb money, via the Austin American Statesman:
Whatever it is, this much is certain: When it comes to high gas prices, President Bush is a supply-sider, always talking about increasing the supply and never suggesting that Americans play a role in decreasing the demand.
There's one problem with this approach: The world has a finite supply of petroleum. No matter how many billions in federal government subsidies, the supply is the supply.
And by the way, the choice we face is not between more drilling subsidies and forcing American families out of their SUVs. The problem we face stems from BushCo's failure to do anything that could create cost saving options for Americans.
We know that mileage of U.S. cars has gone down while sales of foreign hybrids is climbing. We know that the federal government could have encouraged programs to increase fuel efficiency.
BushCo's failure to act has hurt families by limiting the transportation options available to them, and hurt U.S. car companies that saw little reason not to keep selling the inefficent gas hogs that Washington encouraged them to keep manufacturing. The result is pain at the pump and on the factory floor as the market share of domestic automakers continues to slide.

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