Watching the Fed refuse to let the mortgage business find its way. Watching Congress, and reading of its myriad, proposed, alarming energy policies. It is all reminiscent of the anti-business-Darwinism that is theorized in Ayn Rand's Atlas Shrugged. If you haven't read Atlas Shrugged, it's a must. It's a practical tutorial in recognizing all economic- and business-policy bunk. If you've read it, you're just as alarmed by the Fed and by Congress. You are hopeful the former's decisions are based on insider information that necessitates its current monetary policy; you're doubtful the latter's is based on anything with forethought beyond the next election. Policies and legislation are being proposed and developed by Congress--and, fortunately, not adopted yet--that prop up the most inferior energy forethought. Atlas Shrugged describes what happens when businesss policy devolves to prop up the least profitable. It's a "business survival of the least fit" policy, if you will. One example of poor energy policy is discontinuation of filling the SPR--and for the very reason filling it is of utmost importance : oil prices are high; supply/demand is tight. Of course, the U.S. government should make hay when the sun shines and fill the SPR when doing so is least expensive, but it hasn't been doing this and now is not the time to stop filling this domestic oil supply. The SPR has less than a 30-day supply of oil based on current U.S. rates of consumption. Fill it. And, let the most-fit U.S. businesses find their way. –Nissa Darbonne, Executive Editor, Oil and Gas Investor, A&D Watch, Oil and Gas Investor This Week, www.OilandGasInvestor.com; ndarbonne@hartenergy.com
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