Bush's Gas Pain

"· 'Jawbone' producers into increasing production.

"· Aggressively investigate the possibility of price gouging by the oil industry."

Since then, the direct and indirect costs of the war have increased dramatically. It's not entirely a coincidence that before the 2003 invasion, oil cost less than $25 a barrel, and as of today costs $116. Similarly, the dollar's value has declined precipitously -- see my Nov. 8 column, Bush's Disastrous Dollar Policy.

Kevin G. Hall of McClatchy Newspapers takes a look at Bush's options today. He writes: "One step that could have an immediate impact would be to fill the Strategic Petroleum Reserve with heavier, sour crude oil. Right now, the SPR is being partially filled by light, sweet crude, which is lower in sulfur. This is the variety most sought after by refiners and taking it off global markets and putting it into the reserve makes it more scarce, thus higher priced."

By contrast, Hall dismisses another proposal Bush revived yesterday -- for new U.S refineries to built on military bases. "Most military bases are far from the source of oil production in the Gulf of Mexico and the pipeline infrastructure that leads from there. It makes a nice sound bite but isn't a real-world solution."

The Coverage

Dan Eggen and Jonathan Weisman write in The Washington Post: "Bush, reaching back to the earliest days of his administration, resurrected GOP demands for new drilling in the Alaska wilderness, fewer restrictions on oil refineries and other measures aimed at lowering fuel prices through higher production.

"Democratic leaders shot back that Bush is out of touch with struggling Americans, as he pours money into the Iraq war at the expense of domestic priorities. Senate leaders promised to unveil gasoline price legislation by week's end.

"Two oil giants, BP and Royal Dutch Shell, announced record profits yesterday totaling $17 billion in the first three months of the year. Exxon Mobil is expected to smash its own previous records for quarterly corporate profits tomorrow. Average gasoline prices, meanwhile, have surged to a new high of $3.60 per gallon. . . .

"Many of Bush's oil-related proposals date back to his first term,. . . . and failed to gain traction even when Congress was under GOP control. His remarks underscored his difficult political predicament, as he is hobbled by dismal approval ratings and overshadowed by a lively presidential campaign.

"Indeed, many lawmakers signaled yesterday that they would pay little heed to the president's criticisms, particularly on oil. Sen. Amy Klobuchar (D-Minn.) said that 'people don't have time for finger-pointing from the White House right now."

Dana Milbank writes in The Washington Post: "The incredible shrinking presidency of George Walker Bush hit a new milestone yesterday: The commander in chief turned to sorcery. . . .

"[T]he wizard of the West Wing said he would use his supernatural powers, if he had them, to conjure up lower gas prices. 'I think that if there was a magic wand and say, 'Okay, drop price,' I'd do that,' said the illusionist. . . .