John McCain was right about the absolute necessity for the US to become as energy independent as possible as quickly as possible.  Sen. McCain was correct, as well, in citing the high cost of oil as the primary reason for the overall downturn of our economy during the run-up to the election. 

The first domino to fall was the US auto industry.  Automakers were surviving, albeit on a rollercoaster ride, as a result of truck and SUV sales that tanked the minute the price of a gallon of gas spiked last year.  Of course, having the media and liberal candidates tell us every day that the price was heading for $10 a gallon -- in combination with announcements that the real estate bubble was about to burst and that bank money would be tightening dramatically as a result of the aforementioned -- didn't help at all.

Liberals can blame GM, Chrysler and Ford all they want for not offering enough hybrid and fuel-efficient gasoline engine products.  However, the fact remains that the domestics were catering to the demands of a market segment that was, for the most part, impenetrable by "import" manufacturers.  Alas, that was while US capitalism still had a pulse but was never placed on proper life support.

Sen. McCain's repeated call for, among other things, ramped-up oil drilling and the construction of nuclear generating plants, if heeded, would have had an immediate effect on the oil cartel's future pricing strategy and would have made a positive impact on most of the key market components of our economy. 

Even now such a plan's success would be far more predictable than the Hail Mary pass being thrown by Obama, Congressional Democrats and RINOs, and as a result it would be far more likely to allay the public's fear of the unknown.  That, in and of itself, would help to keep still-employed Americans from doubting their government so much and perhaps from changing their spending habits in the interim.

McCain's suggested drilling, energy-related construction and other alternative energy projects would also have created private sector jobs much more quickly than the possible trickle-down from the Obama Administration's suggested public works projects.  More importantly, multi-tiered automotive industry jobs might have been rescued given Americans' assurance that the larger products they desire would continue to be viable and affordable as a result of lessened dependence on foreign oil.

"But," you say, "The price of a barrel of oil was already tumbling by the time McCain dramatically suspended his campaign and headed for Washington to debate about and vote on the initial bailout bill." 

That is correct, but the price at the pump has been creeping upward, despite continued record low per-barrel costs, as a result of the cartel's threat to cut production and pursue any other methods that would preserve their industry.

If Toyota and Honda have such great product line-ups, in addition to enjoying their significantly lower costs of doing business in the US, how is it that Japanese companies posted losses similar to those of the Big Three during the four-buck-a-gallon fuel crisis?

Inexplicably, one bright spot in the current economy is the oil companies' continued profitability despite all of the recent turmoil and price cuts.  Last week Exxon Mobil Corp. reported a profit of $45.2 billion for 2008, breaking its own record for a U.S. company, even as its fourth-quarter earnings fell 33 percent from a year ago.

There may be a strategy that would stimulate Exxon Mobil and other American oil companies to invest some of their profits in job rescue/creation and in the perpetuation of the very industry -- automobile manufacturing -- that accounts for so much of these corporations' sales.  But with a socialistically-oriented administration that wants to spend more and grow government to the max we will probably never know what capitalistic measures might have been able to save the day.

Retail sales were stronger than expected in January but it is unlikely that post-inauguration sales of commemorative Obama merchandise will continue to be a factor in the months ahead.