3. Ignoring the elephant in the room
The soaring oil price and its underlying causes are the invisible elephant in the room in the presidential race. While many of the candidates' proposals can be chalked up to pandering in an election year, there is no evidence that I can find that any of the candidates gets this "peak oil" problem. For example, Robert Hirsch and Roger Bezdek briefed two low level Clinton staffers on the dangers of a dwindling oil supply. No evidence supports the idea that this briefing has had the slightest effect on thinking in the Clinton campaign.
We are all being sold down the river in this year's election. As the first DOE secretary James Schlesinger said, "We have only two modes—complacency and panic." Complacency rules, and panic awaits. I don't know who the next president will be, but I can foresee that anxious day when our leader-to-be (or Jason Grumet?) exclaims "Oh, no! Oil is $161/barrel! The economy is falling apart! What do we do now?" Don't say we didn't warn you.
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