International Politics ///

Capitol Hill defies Einstein. Sometimes things happen at the speed of light. Sometimes they happen bewilderingly slow. Sometimes, it’s a mixture of both. As we go into the latest session of Congress, it seems to be a case of the latter in terms of energy policy. Congress is back from the Easter recess, and the obvious question is whither the energy bill in the Senate. These energy bills are curious amalgams. There have been dozens of "national energy plans" over the last decades, not one of which seems to have ever made a bit of difference. It is rather like when (as nostalgia buffs remember) President Gerald Ford unveiled his WIN (for Whip Inflation Now) program, and we all went around for 15 minutes wearing WIN buttons in our jacket lapels. Wall Street and the world paid not the slightest attention.

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