The press has been quick to label the new energy bill just passed as "Pro-Renewables."

I call it "pro-the-same-old-bullshit, just a different day"

Let's take a look at a few of the key points our local news station here in Baltimore was quick to point out as being "Pro-Renewables."

New price gouging provisions now make it unlawful to charge an "unconscionably excessive" price for oil products, including gasoline.

Really? They're not aloud to price gouge? Oh, well, now everything is OK.

According to this part of the bill, the federal government now has the authority to investigate oil industry manipulation. Yet since the market sets the price for oil, and not the oil companies, one wonders what "manipulation" they're talking about. Do they mean peak oil data, reserve numbers? I'm going to go out on a limb here and assume that's not the case.

But hey, every bill needs some empty PR, right?

The federal government will now be required to accelerate the use of more efficient light in public buildings.

They needed a bill for this?

When we moved into our new office last year, I went out and bought a bunch of Compact Florescent Light Bulbs (CFLs). And now that Baltimore Gas and Electric (BGE) has jacked up the rates by 50 percent, we can actually see the savings in every electric bill.

It's quite a concept . . .

Utilize energy-efficient lighting, and you save money!

Granted, this isn't Congress.

So the question is . . . how many bureaucrats does it take to change a light bulb?

Sorry, I couldn't resist.

Automakers will be required to achieve a fuel efficiency standard of 35 mpg for passenger cars, SUVs vans and small trucks by 2020.

That moves us from 27.5 mpg to 35 mpg--in 13 years!

After passage of the bill, Senator John Kerry was quoted as saying, "We've been fighting to reach this day for over 20 years."

Really?

20 years you've been waiting for the automakers to increase fuel efficiency to 35 mpg?

That's like saying you've been waiting 20 years to buy a new typewriter.

And who really thinks 35 mpg is reason to celebrate?

In fact, I can't help but think how ridiculous 35 mpg sounds when there are Plug-In Electric Hybrid Vehicles (PHEVs) delivering 100+ mpg at this very moment.

Of course, when you look at the big picture, it really doesn't matter.

How much do you think gas is going to cost in 2020?

As it is, experts like Matt Simmons are already predicting oil getting as high as $300 a barrel.

Those PHEVs can already blow past a pathetic 35 mpg. And that's why, though our elected officials are dragging their feet on this . . . it doesn't matter.

Consumers won't be asking car dealers if a vehicle will get them 35 mpg. They'll be demanding, not asking, for double, even triple that.

I tell ya . . . it's a great time to be loading up in this sector!

Until next time...

Jeff