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a once in a generation chance...will we take it?

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Suddenly the international political landscape looks very different. Where there was fear, now there is hope. Where there was helplessness, power is growing in the land. No, you imbeciles, I'm not talking about the election of Obama. I'm pointing out that oil sits at $54 a barrel and continues to fall. Heard anything from Vladimir Putin lately? He keeps showing up at these economic summits looking, in the words of John Mortimer, not unlike an abbess with a bad period. Hugo Chavez? Just nationalized the biggest gold mine in Venezuela in an effort to make up some of the shortfall from his failing oil operations. And then there are our dear friends the Saudis, who think nothing of funding the religious schools where the students learn to blow themselves up in science class. Now these dear friends are between a rock and a hard place. If they cut the supply, they earn less cash, and risk pissing off the country that keeps them in business and out of the hands of their enemies (that's us, by the way). If they don't cut the supply, the price can and will fall further. It's a pleasure to watch such people as these squirm. What we as Americans have, for the first time since the late 1990's, is a bit of leverage over our energy future. At $50 a barrel, we can influence OPEC policy. At $40 a barrel, we can damn near set it. The collapse of oil prices worldwide has done more to hinder terrorism than any military operation we have undertaken in the last ten years.

And lo, a great wonder has occurred. The Detroit three, the U.S. automakers who for years have resisted making vehicles that use less fuel, have come to the government seeking financial assistance. A lot of financial assistance. Because people suddenly don't want to buy cars that get 15 miles per gallon. The best argument they can give for this assistance is that economic gloom and doom will result from their bankruptcies. Well, we're used to economic gloom and doom by now, so try another argument.

And lo, a second great wonder has also occurred. The Detroit automakers get to make their case not in front of the business oriented Republican controlled congress, but rather in front of a Democrat controlled one and a president elect who won on an environment and new energy platform.

Any one of these three events would be cause for celebration, all three happening together is a chance we may not have again in our lifetime. What could possibly go wrong? If the Big Three want a taxpayer rescue, well of course, provided it is wrapped in a bill mandating that no car or light truck that gets less than 30 mpg. will be sold in America after 2010. Who are we to tell them how to run their business? Why the people who are bailing them out, of course. Retooling the auto industry as an efficient, petro-terror fighting tool is a good investment and a great way to help the war effort. Why shouldn't we tell them how to run their businesses? They haven't been that successful at it anyway.

Before we rejoice, however, it's important to realise that none of the above is going to happen. Most likely, just before Christmas, the lame duck congress will pass a no-strings-attached bridge loan for the Big Three that the President will sign. Perhaps they'll leave Obama to flush that toilet. Either way, come January, I am very sceptical of seeing any significant change in CAFE or other standards for the vehicles Detroit produces, and I fully expect to see these companies limping along on a healthy helping of my money. Then the excuses will start: the UAW was too strong, we can't expect companies to innovate now while they are so fragile, and my all time favorite, small cars aren't safe.

Please believe me when I say I hope that I'm wrong and that this historic opportunity to smite our enemies and transform a dying industry won't go to waste. The auto companies are betting it will. Ford has already fired up one idle pickup truck factory in response to falling gas prices. As you read, 2009 model 15 mpg gas guzzlers are coming off the assembly line and into a showroom near you. It is more than likely that they will make that journey with help from you, the American taxpayer. And if the incoming administration allows this to happen, will you support them in 2012?