HERE HE COMES TO SAVE THE DAY--MIGHTY MOUSE IS ON THE WAY

New oil is coming. Attitudes are changing. The Governor of Virgina has let the Chair of the Senate Energy Committee know that Virginia has reversed its earlier stance. The Governor says he will support drilling in the continental shelf off the coast of Virginia. He wants a larger cut of the earnings but, still, a major shift in attitude.

The Senate is toying with the idea of attaching ANWAR drilling legislation to the budget resolution. The budget bill only needs 51 votes and cannot be filibustered. How big of a stink will the democrats raise when their constituantes are paying more than $200 a gallon?

Around the globe, there are many other potential new sources of oil. The current price even supports production from the huge tar sands of Canada. ConocoPhillips (COP) has made numerous deals with various countries to increase production.

Will Mighty Mouse get here in time? In the 1970's, it took a long time to "catch-up". In those years, it took decades to design and build a nuclear power plant. The new, smaller, reactors are being constructed in five years in China and elsewhere. As in most things in life, the problem is solved as soon as there is an attitude shift recognizing what needs to be done. Mighty Mouse in on the way but be prepared for high fuel prices the next few years.