Notes: Against a backdrop of rising prices at gas pumps and rolling blackouts in California, Dick Cheney announces George W. Bush's energy policy for nation. Once again the debate over the cost of environmentalism vs. the cost of gas is in the news.

Most people will take at least a short-term hit on their pocketbooks because of the price increases. With the increased demand for oil and gas, the energy industry has opened its throttle to full speed ahead. More oil and gas wells will be drilled and more power plants built. Some analysts claim that the price increases caused by shortages will eventually drop due to increased production by the energy industry -- i.e., supply and demand.

Still, there are other takes on the engergy crunch than simply supply and demand. Some members of Congress will be up for election in 2002. Republicans have expressed worry that a long-term energy crisis could cost them control of Congress. Also, it was reported during the week that some in the Bush camp were whispering the name Jimmy Carter in remembering how the energy crisis of the late 1970s helped cost him the election of 1980.

But for now -- after a stagnant 1990s in the energy industry -- there's a happy face on drilling rigs. 05.13.01