Her proposal for a gas-tax holiday, ripped from John McCain's playbook, is so ill-conceived that she's managed, if only for a moment, to unify the entire economics profession in opposition.

But if a gas holiday is a bad idea, aren't there some other things that could be done to reverse or offset the ridiculous run-up in oil prices?

Actually, there are.

While OPEC may not be so good at controlling how much its members pump, particularly when supply is plentiful, it has been very effective in limiting the pace at which new capacity is developed.

While the Supreme Court has ruled that current price-fixing laws do not apply to foreign governments, there is nothing preventing Congress from changing the law -- or, as Hillary and others have suggested, challenging the legality of price fixing at the World Trade Organization. Short of that, the United States could deny visas to top officials from OPEC governments, prohibit U.S. oil and drilling companies from doing business with known price fixers, and make it more difficult for the sovereign wealth funds of price-fixing countries to make direct investments in the United States.

After a couple of years of being treated like political and economic pariahs, they might begin to realize that there will be a cost to their piggy price-fixing behavior.

Instead of driving, let's try walking, bicycling, car-pooling or taking public transportation for a week, or working from home some days. Yes, it will be inconvenient. Yes, it will involve sacrifice. But it will also be good for the environment and good for your pocketbook. It might also shave a dollar or two off the price of your next fill-up, even without a tax holiday.

We can also take things into our own hands by setting aside a week every three months -- the week all the big oil companies announce their quarterly earnings -- to avoid the pumps altogether and use as little gasoline as possible.

...."And on the facts, you are simply wrong: there is plenty of oil and gas out there to be tapped that can keep us going for decades

This has nothing to do with science, thermodynamics, mathematics or geology. This idiot is promoting is a f***ing religion, and at the end of the mass the head priest will scarifies him on an alter, and roll the body down a set of stairs to the starving masses in the streets.

Don’t eat the meat - it’s tainted!

Yes, but getting him to answer some questions could be entertaining. In 2006 he said regarding supply "Your analysis does not include the supply effects of a sustained price at $70 a barrel.". Well, its at $120 now, what has the effect on supply been ? It's interesting to me to see how long he will stick with the story. And, a lot of people in Washington read this. Good to remind people of the recent past because they forget so quickly...

Arlington, Va.: Steven,

A bit over 2 years ago (Apr 26, 2006), on a discussion like this, in a response you said:

"What is it with you peak oil people. Its like scientology."

...equating the notion that people who have studied the oil reserve and extraction numbers and posit that we are very near or at the world's peak production capacity with those followers of a religious cult.

I was just wondering if you still hold this opinion ?

washingtonpost.com: Apr. 26 discussion

Steven Pearlstein: Fair question, but no, I haven't changed my opinion. Over the long run, I don't think we're going to run out of oil. And that's particularly true if oil is priced at $120 a barrel rather than $25. You can imagine how much more creative people can get in finding and extracting oil at that price. And you can imagine that, over the long run, it will dampen demand. So let's let the market forces play themselves out, shall we, rather than declaring victory for the neo-Malthusians.

ok this is really tabloid material
he answers the question like a 10 year old who doesn't know shit about the topic and jerks something stupid out of his ass
not even stupid arguments, but no arguments at all

Arlington, Va.: So Steven, your brilliant plan to treat 'the Arabs' as political and economic pariahs - how does that work?

If OPEC laughs and instead of being sympathetic-sounding while they don't raise production and prices continue to rise, they just become more surly - what do you do then? I'll tell you what you will do, you genuflect and pay whatever they ask to have that oil. Right? What else can you do? Invade?

Face it, you are an addict and you are irrational about it (as all addicts are). You probably hate me, but if you can manage to beat this problem (and admitting the problem is the first step), you may come to realize that only a true friend would try and get you to face your addiction and overcome it.

Steven Pearlstein: I suspect if we were addicted to solar energy, you wouldn't be so judgmental.

Fuck this guy.

Well, yes, basically. but, he is a Pulitzer Prize winning columnist and at least i find it entertaining to needle him. If he keeps his job (as I expect he will) then it will become more entertaining to point out his flip attitude in future talks.

"... for his insightful columns that explore the nation's complex economic ills with masterful clarity."

"Complex problems have simple, easy to understand, wrong answers."

Well, yes, basically. but, he is a Pulitzer Prize winning columnist and at least i find it entertaining to needle him. If he keeps his job (as I expect he will) then it will become more entertaining to point out his flip attitude in future talks.

Perlstein: It's also a problem when a cartel engages in price fixing of a key input to the economy, and I don't think we should be cheerleading for price-fixing just because it helps further some other goal.