By Peter Ingemi | Watchdog Arena
“To pull a Homer”: to succeed despite idiocy.
In “Homer Defined,” a 1991 episode of The Simpsons, the Springfield nuclear power is going into meltdown. Homer Simpson (the inept lead character of the series) manages to save the day by choosing the right button to prevent the meltdown.
He is celebrated as a hero until it’s revealed that his choice of which button to press was just pure incompetent luck (eeny, meeny, miny, moe). This coins the term “pulling a Homer,” whereby a person without wisdom or skill succeeds in spite of their own incompetence.
This is an excellent illustration of what has happened with the economy, both over the last six years and in the past two months of the Obama administration.
President Barack Obama has been known to bend the truth on occasion (If you like your health plan you can keep your health plan etc…). He was truthful, however, when he stated energy prices would rise under his administration, and as promised, they did.
His administration added regulation after regulation and blocked projects such as the Keystone pipeline meant to increase energy supply and relieve prices. At the same time, they subsidized “sustainable” energy projects that are in fact completely unsustainable without heavy tax subsidies–and sometimes not even sustainable with them!
These efforts bore fruit in high energy prices that strangled his “recovery.” But try as he might, the president could not repeal the laws of supply and demand. As energy prices skyrocketed, American ingenuity took over and the fracking boom was engineered, turning North Dakota into a modern boom state and spawning similar efforts all over the nation.
This new source of American oil production proved to be a direct threat to the Persian Gulf’s relative monopoly on the global oil supply. Fearful of losing their market share and the leverage that gave them, they took drastic action by crashing the price of oil in the hopes of shutting down America’s new fracking industry.
This crash in gas prices, particularly in the cost of diesel, has finally done what the president’s policies could not: actually stimulate the economy by dropping the cost of every single consumer good sold in the United States through reduced transportation costs, especially in trucking.
This drop in gas prices and the price of goods gave Americans who had grown used to living lean extra capital with which to buy products, thereby reintroducing money into the American economy and helping the nation’s businesses.
President Obama tried to stifle domestic oil production, but instead created the incentive to start fracking on a greater scale. This gave America lower prices and concrete gains in energy independence while also harming enemy petrostates (Venezuela, Russia, Iran) around the globe.
In other words, Barack Obama managed to “pull a Homer.”
But while Homer Simpson and the people of Springfield were satisfied to happily enjoy the fruits of Homer’s accidental success, President Obama is not, according to Bloomberg.
Bloomberg wrote that “The Obama administration said it will issue rules to cut leaks of climate-warming methane, a step the oil and gas industry warned could choke the U.S. energy renaissance fueled by hydraulic fracturing.
The Environmental Protection Agency said Wednesday it will propose rules this year targeting new oil-and-gas equipment, the centerpiece of an initiative to reduce methane emissions as much as 45 percent by 2025. The EPA also plans to expand voluntary programs with states and industry on equipment already in use, a move that falls short of the new mandates environmentalists sought.”
Obama’s allies on the left consider this a “really big deal,” and it is. These new rules, along with taxes proposed in various states, have the potential to do what the Saudis have to this point been unable to do: curtail the energy boom that has been the engine of the recovery thus far. As Investors Business Daily wrote “This war-on-shale action mirrors the administration’s war on coal, with EPA rules impossible to meet economically and sometimes requiring technology that doesn’t even exist.”
So Barack Obama, when presented with an unexpected windfall that strengthens the economy, defunds our enemies, and gives the United States the potential for energy independence, is instead pushing for policies designed to reverse his accidental good fortune.
Even Homer Simpson was smarter than that.
This article was written by contributors of Watchdog Arena, Franklin Center’s network of writers, bloggers, and citizen journalists.