Barack Obama... Putz of the Day for June 23, 2011

The Prez tries an OTO solution to a long term problem

By Marc J. Rauch
Exec. Vice President/Co-Publisher
THE AUTO CHANNEL

Faced with failure in everything he's done, and with an economy that will not get better until there's a reason for it to improve (in fact I wrote an editorial on that exact point - CLICK HERE to read it), Barack Obama, president of these here United States has taken an extraordinarily stupid step of releasing parts of the nation's strategic oil reserves in order to drive down oil/gasoline prices.

Why is that extraordinarily stupid, you ask? Because it's a one-time-only way to affect prices - even if the putz-of-the-day did it every month, its effect would be mitigated by other OPEC and gasoline company maneuvers to jack up prices again, or lower production. We would still be in the same gasoline addiction situation. The purpose of having a strategic oil reserve is to guard against a supply problem. There is no supply problem or unexpected increase in demand. Using the reserve as a mis-guided grand-standing tactic only hurts us.

What we need in a full-time, permanent solution that renders gasoline irrelevant. The way to do that is not to drill for more oil; the way to do it is to mandate a replacement for gasoline - a replacement that is produced domestically from our own resources.

This is what Bob Gordon and I have preached about for the past few years, and it is what Anne Korin so eloquently wrote about in the book she authored with Gal Luft, "Turning Oil Into Salt." You can watch and listen to Anne in the exclusive video below.

We need real, real change and innovative solutions; not naïve guessing.

SEE ALSO: Thank Limbaugh, Beck, Hannity and Prager for Rising Gasoline Prices