Groundhog Day

Groundhog Day

by digby

Dylan Ratigan is hosting a Townhall tonight at 5PM pst on energy. You can see it here.

Before you watch it you might want to read this excellent article in today's NY Times:
IMAGINE a foreign policy version of the movie “Groundhog Day,” with Bill Murray playing the president of the United States. The alarm clock rings. Political mayhem is again shaking the Middle East, crude oil and gasoline prices are climbing, and an economic recovery is under threat.

President Nixon woke up to the same alarm during the 1973-74 Arab oil embargo and declared Project Independence to end the country’s dependency on imported oil. President Carter, during the Iranian revolution, called an effort to reduce dependency on foreign oil “the moral equivalent of war.” President George W. Bush called oil an addiction.

On Wednesday, in a nationally televised address, President Obama said, “We cannot keep going from shock when gas prices go up to trance when gas prices go back down. We can’t rush to propose action when prices are high, then push the snooze button when they go down again.”

So, with Libyan and other North African and Middle Eastern oil fields jeopardized by political upheaval and Japan’s nuclear power disaster turning the energy world on its head, the alarm is ringing again. As gasoline prices rise and even the stability of Saudi Arabia is suddenly in question, energy independence is taking on new urgency.

The path to that independence — or at least an end to dependence on the Mideast — could well be dirty, expensive and politically explosive.

Read on.