Thursday, March 15, 2012

Please, Secretary Chu, Retract your Retraction. High Gas Prices are Good. You Were Right the First Time.

Why would a president want to bring an eminent scientist like Energy Secretary Steven Chu into government? In the hope, one would suppose, that he would speak truth to power.

Sadly, that hope seems to have been been dashed in the case of Secretary Chu.  In 2008, before becoming part of the cabinet, he had said that as part of the effort to protect the environment and wean the U.S. economy from its energy addiction, "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe." But earlier this week, at a hearing of the Senate Energy and Natural Resources Committee, Chu caved to political pressure, saying  "I no longer share that view." Digging himself in deeper, he explained that he and the president felt consumers’ pain at the pump, and were doing everything they could not just to hold the line on gasoline prices, but to reduce them. Read More>>>

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