Even "Scoop" was wrong - once in a while...

My political hero remains Sen. Henry M. "Scoop" Jackson.

He linked a "realistic" foreign policy with an "idealistic" one.

He also was one of the Senate's great expert on energy matters.

He liked nuclear power; he was right about that, for sure.

But when the first Arab "oil embargo" hit, he show-boated a bit.

He called oil company CEOs to testify and when they wouldn't tell them their profits, he had an aide call his broker to get them. Fair enough.

But he also predicted $100 a barrel oil. In today's prices that would probably be around $300-$400 per barrel. He was way off.

The Wall Street Journal recently stating that energy prices, despite turmoil in the Middle East , Venezuela, Russia, Nigeria and elsewhere, had dropped to about $70 a barrel.

Why? Oh, because "too much money has been chasing too few commodities futures" says one expert (probably ungrammatically.)

Another says "There is no floor. The floor could fall to single digits. It won't stay there for very long, but it could fall."

Anyone who understands that, please respond to,

Ben