"Are you somewhat upset about gas at $2 a gallon and looking forward to lower prices? Well, just remember that the Kyoto Protocol (to combat a hypothetical global warming), avidly promoted by the Clinton-Gore administration, would raise prices even higher - on a permanent basis.

As disclosed by The Washington Times, an internal memo of the Energy Department blamed much of the June price run-up in the Midwest on the rigid regulations of the EPA. Supplies of gasoline became tight because of the EPA requirement for the Chicago market, starting on June 1, for "reformulated" gasoline (blended with ethanol distilled from corn). Refiners ended up with having to supply different formulations for fuels for different areas to meet EPA rules. With no flexibility to swap supplies and with refineries operating at peak capacity, just one pipeline breakdown or one refinery fire would then cause supply shortfalls and price spikes."

The "expert", S. Fred Singer for the Washington Times
"Oil price spike with no peak in sight"
August 11, 2000

Permanent $2 a gallon gas under the Kyoto Protocol! Don't we all wish. And I almost forgot all about the "crisis" in "peak capacity."

And here's another walk down memory lane. Anyone remember this "failure"?