Bill Bennett: “today's papers are filled with stories about energy prices and particularly gas costs and editorials demanding that the…”

“today's papers are filled with stories about energy prices and particularly gas costs and editorials demanding that the Congress and the President do something about it. I think perhaps the best comment that appeared was in this morning's Wall Street Journal in a story with the headline ``Bush Aims To Rein In Gas Costs,'' where there is a quote from Robert Ebel, who directs the energy program at the Washington Center for Strategic and International Studies. All of us are familiar with CSIS and the good work that it does. I would like to quote Mr. Ebel because what he has to say is the clear understanding of where we are. He says: A good politician never admits he's powerless in a situation, but I don't see anything that the Congress can propose that will make any difference. We don't stand in isolation from the rest of the world oil market, and there are events going on around the world that affect the world price of oil. I note that he uses the term ``world''--I could count how many times, but multiple times--and we act as if this is a domestic problem. We act as if this is something we in Congress or the President in the White House can wave a magic wand and do something about. I would like to point out a few facts and perhaps bring a little humility into this body, something that is in fairly short supply but in great need. As Mr. Ebel points out, the price of oil is set by a series of world events. It is not set in the Congress.…”