Energy and US elections

Yes, Nancy Pelosi has argued for a windfall profit tax on oil companies. Yes, that position reflects misunderstanding of US energy needs. And, yes, the California Democrat will become speaker if her party wins control of the House of Representatives in this week’s general election. But no, Democratic takeover of the House and, maybe, Senate wouldn’t mean ruin for US energy.Republicans have controlled the House since 1995 and the Senate most of the time since then. They’ve controlled the White House since 2001. Has Congress approved leasing of the Arctic National Wildlife Refuge coastal plain? No. Has it dismantled hurdles to leasing of the Outer Continental Shelf off the...

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