One Less Thing to Argue About

As if there was any difference between the candidates in the first place, at least we will not have to wade through the BS regarding energy socialism because both John McCain and Barack Obama seek to clamp down on energy speculators, blaming them for the high price of oil.

I'm no expert when it comes to the inner-workings of oil speculation as it pertains to put and futures contracts, but I do understand that when money is as cheap to borrow as it currently is (Fed funds rate is at 2%), speculators will react accordingly to the irresponsible monetary policies and seek to protect themselves against inflation by purchasing valuable commodities such as oil.

The answer to the recent surge in energy prices is not more government intervention, but less. The best thing the government can do is get out of the way and allow market forces to work (after installing a reliable monetary system, that is). It seems the greedy capitalist pig is always to blame for the shortcomings, blunders, and inherent failures that are intrinsic in a centrally-planned economy.

(Excellent related reading on this topic here. Although the author deals primarily with crises vis-a-vie the supply of oil, the article's application serves as an excellent guide for understanding how market forces always outperform government planning)