Ethanol subsidies, once considered a sacred cow, are facing the possibility of being axed from the budget. The Senate cast a deciding vote, 73-27 in repealing the 45 cent per gallon subsidy to refiners for blending gasoline with ethanol, and the 54 cent per gallon tariff on imported ethanol.

Read more on Beginning of the End of Corn Ethanol?…

Gas prices are beginning to come down, but for many people prices are not falling fast enough.

The pain caused by high gas prices is spread widely, but it is felt intensely on the working poor and the unemployed who are trying to find a job.

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The blame game in Washington is heating up on skyrocketing gas prices. Republicans are criticized as being in the back pocket of the oil industry and partaking in crony capitalism. The Democrat Congressional Campaign Committee is even cashing in by hosting a fundraiser that is based on what has been the House Republicans “decade long relationship of protecting Big Oil taxpayer giveaways, speculations and price gouging…” However blame is also placed on Democrats, with accusations of placing barriers to prohibit domestic drilling. The debate has also centered around how we can be better environmental stewards. We may find ourselves asking questions such as whether green energy promotes environmental stewardship, and if oil drilling results in a dramatic harm to the environment?

Read more on Playing the Washington Blame Game…

Now meeting the goal of cutting our dependence depends largely on two things: first, finding and producing more oil at home; second, reducing our overall dependence on oil with cleaner alternative fuels and greater efficiency. This begins by continuing to increase America’s oil supply.

These were the words spoken by President Obama on March 30 in an address he gave at Georgetown University on America’s energy security.  The president also stated in the same speech that “one big area of concern has been the cost and security of our energy,” and “ … our best opportunities to enhance our energy security can be found in our own backyard … ”

Read more on President Obama’s Energy Doublespeak…

My commentary this week focuses on the how the rise in prices at the pump is impacting the poor. Currently, in many areas of the country a gallon of gas is now priced over $4. I also argue that we need a more coherent energy policy coming from leaders in Washington. Part of the argument against drilling in ANWR (Arctic Refuge) over a decade ago was that the oil wouldn’t hit the market for 10 years. That’s a very shortsighted way of thinking about meeting our energy needs. We need leaders in Washington to work for us not against us.

Read more on Acton Commentary: High Gas Prices Devastating to Poor…

As the Drudge Report today hails the coming of the fuel-efficient Smart car, it might be worth pointing out other ways in which people are adapting to deal with higher fuel prices. I don’t mean to minimize any of the pain associated with skyrocketing energy costs, whether personal (I feel it, too) or economy-wide, but it is interesting to observe the myriad and often unexpected effects of price changes. It’s the market working. Or, to put it another way, it’s the human mind working to adapt creatively to the challenge of scarce resources.

Read more on Dealing with Rising Gas Prices…