Energy and the 2008 Election
I caught part of the Democratic debate on cable a couple of nights ago and was pleased to hear the candidates talking about energy. Even in the 2004 election, with the Iraq War in full swing, energy didn't really make it to the national level as a political issue. When you consider that the war is being fought on top of billions of barrels of oil, it's pretty incredible that it didn't become a flashpoint. C'est la vie. It's now on the table and my guess is that energy will become a critical issue in the 2008 election. With oil marching towards $100 per barrel and gas once again approaching $3 per gallon and no sign of an ease in global energy demand or a rise in global energy supply ... people are starting to wake up to reality.
The Consumer Federation of America released a new report and survey results that show Americans are beginning to understand that high energy prices are not temporary. The report found:
- Over the last five years, household energy expenditures (home heating and gasoline) have nearly doubled, and are now 50 percent more than health care expenditures and 23 percent more than spending on food.
- Three key energy provisions bottled up in Washington could save consumers more than $180 billion between now and 2020.
The survey results included the following points:
- Concern over U.S. dependence on oil from the Middle East has grown dramatically and now almost equals concern about prices. Seventy-six percent of those asked express concern over imports (56 percent express great concern).
- An overwhelming majority (84 percent) supports three requirements in Congressional energy legislation: l) higher fuel economy standards for passenger vehicles; 2) the purchase of renewable energy by electric utilities, and 3) expanded production of biofuels.
- An overwhelming majority (75 percent) still supports these proposals after hearing arguments from opponents of the legislation.
- Opposition to these policies is meager (between 13 and 22 percent).
This report/survey shows that the average consumer has already transitioned mentally to a new reality. As has happened many times in the past, the people in the US are way ahead of the representatives on the issue. In a year, the American people aren't going to put up with a candidate who is not saying the right things about energy. It's time for the leadership to wake up and catch up ... ASAP!
