SEARCH BLOG: OIL and POLITICS
The other day I wrote that:
Oil prices dropped below $125 per barrel on news that supply is up and demand is down.Congress, however, is doing everything it can to ensure that supply stays as tight as possible. Maybe certain Congress-persons are trying to get the populace angry at President Bush by somehow blaming him for Congress' malfeasance. Won't work. Too transparent.
The marketplace will work... if Congress gets out of the way.
Prediction: the Democrat party will be very disappointed after the November elections.Now from Scotland via Benny Peiser:
ANALYSIS: NO-ONE CAN POSSIBLY UNDERESTIMATE THE SCALE OF THE DISASTERMr. Brown was more intent on delivering action on his global warming ideology than addressing the real concerns of his constituents. Are you listening, Nancy and Harry?
The Times, 25 July 2008
Angus Macleod, Scottish Political Editor
No-one can possibly underestimate the scale of the disaster which hit Gordon Brown and the Labour Party in the Glasgow East constituency in the early hours of this morning.
Here was a seat which has been a fortress for Labour in Scotland where Labour did not so much count their votes as weigh them. And yet, they saw their 13,507 majority overturned by a triumphant Scottish National Party (SNP).
The shock of this result casts another huge pall of gloom over the Prime Minister as he goes on his annual holiday. It raises massive questions about his continued leadership of the Labour Party.
Backbench MPs will have to face the fact that the Glasgow East result, after a similar by-election disaster in Crewe and Nantwich in May, makes Mr Brown look like very damaged goods as their leader. They must now ask themselves if they can possibly win a general election under Mr Brown and the Prime Minister's Cabinet colleagues will no doubt be asking the same question.
The major concerns for many households in one of the most deprived areas of Britain were the rising cost of fuel and food, the ongoing rate of street crime and the whole issue of law and order generally. But voters were obviously angry at the non-appearance of Mr Brown in the constituency during the by-election. Labour also suffered from the refusal of their first choice candidate to accept the nomination and that Margaret Curran was a 4th choice...
This may have been a protest vote by people in Glasgow East fed up with rises in the cost of living. But it also showed that Labour's core support in Scotland is also now so thoroughly fed up with Labour that they think nothing of voting for the party's main political enemy in order to teach it a lesson.
Copyright 2008, The Times