Politics

"Drill Drill Drill" is "Working Working Working"

August 2008

Three Little words mean big changes for republicans, democrats, and the motoring public.

By Andrew Peterson
For CoverUps.com

Larry Kudlow, writing for NewsMax, offers compelling evidence of a political sea-change happening before our very eyes. The fortunes for both political parties seem to be in a state of reversal; great news for the Republicans, and terrible news for the Democrats. Kudlow writes:

As Sen. John McCain and the GOP leadership nationalize the drill, drill,
drill message, the Republican Party might conceivably be riding a summer
political rally. The question of offshore drilling, along with expanded
domestic energy production, has suddenly become the biggest political and
economic wedge issue of this election. Is there a Republican tsunami in the making?

The Democrat leadership are now so deeply tied to the radical environmental lobby that they appear ready to suffer political disaster rather than change their position. A fascinating piece of political theater unfolded in the Senate when Republican Mitch McConnell, to great effect, tried to pin Democrats down on just how high they were willing to see the price of oil go before they would help the consumer.

Determined Republican Senate leader Mitch McConnell offered unanimous-consent requests to vote on lifting the ban on deep-water exploration, and the Democrats objected. When McConnell asked Democrats if they'd overturn the ban at $4.50 a gallon, they replied, "No." When he raised the price to $5, $7 and $10, they cried, "No," "no" and "no."

One particularly hopeful sign: Democrat attempts to demagogue the issue by blaming "Big Oil" are backfiring The public doesn't buy it. The blame has settled exactly where it should: on Democrats.

Polls suggest that two-thirds to three-quarters of the nation wants to drill. To wit, while a just-released Obama campaign ad attacks McCain as a tool of big oil, McCain has taken his first-ever lead in a Rasmussen tracking poll.

Kudlow sees strong parallels between calls for drilling and successful Republican political movements in the past.

There is a voter revolt going on, and it reminds me of the anti-tax rebellion that lifted Ronald Reagan into office 28 years ago. Is the conventional wisdom about to be swept away? As Republicans press home the drill, drill, drill message, might they pick up seats in Congress this year? And might the national clamor for a more realistic and balanced energy policy - one that includes more oil, natural gas, clean coal, nuclear, and the alternatives of wind, solar and cellulosic - carry John McCain to a convincing victory over Obama?

Without even realizing it, the GOP drilling offensive has become a new contract with America. And it appears to be working. The public is putting aside global warming and choosing instead new-energy production, a stronger economy and more job creation. Voters want growth, not austerity. They want Ronald Reagan, not Thomas Malthus. And by resisting this grassroots call, the Democratic Party is digging itself into one of the biggest political dry holes in history.

Unlike the phantom perils of global warming peddled by Obama, Pelosi and Reid, the very real harm done to the American economy by Democrat obstruction on drilling has caught the attention of voters.

It's the oil shock that has brought us perilously close to recession. In fact, despite a slight rise in GDP, non-farm corporate payrolls have declined for seven consecutive months, while private payrolls have fallen for eight straight months. A year ago, the unemployment rate was 4.5 percent. Today, it's 5.7 percent. Topping it off, the inflation rate has climbed from 2 percent to 4 percent over the past year.

All of this must be driving the Clintons quietly crazy. They would surely love to dust off the old "It's The Economy Stupid" banner and hang it over the stage at the Democrat Convention. But it's too late for that. Republicans own the energy – and so the economy – issue, and stand poised to reap the benefits.

Over at the Intrade pay-to-play prediction market, the probability of an offshore drilling bill passing in 2008 is now handicapped at 50 percent, up from 25 percent only a few days ago. Clearly, investors know market prices will move well before we see actual new energy supplies from offshore drilling. The likelihood of greater energy supply will incentivize those much-vilified traders to slash barrel prices much more, bringing relief at the pump and earning the gratitude of a whole nation.

Our Take

"Drill drill drill" is a grand-slam for Republicans. Democrats are looking at richly-deserved defeat. And with any luck, lasting damage is being done to the environmentalist wackos. Is their goose cooked politically? It's too early to say. But the Republicans are cooking with gas.

Link to article.