By doing absolutely nothing, Congress failed to extend an offshore drilling moratorium that had been in place for years. So how much energy production could this mean? When will it make an impact on supply and the price of energy? What else is Congress doing or not doing to impact our domestic energy production? We ask Brian Kennedy, Senior Vice President at the Institute for Energy Research.
On Thursday, the Commerce Department announced the economy grew by 1.9 percent in the second quarter of 2008. That means we are not in a recession and have not been in one during this entire economic downturn.
Does this suggest the doom and gloom is overblown? Or do other economic indicators such as inflation and the price of gasoline prove that we are in an economic mess, regardless of what the official numbers suggest?
Read more in the link below and share your thoughts with us!