Slay the OPEC dragon.
The new President will be in an unusual position to do what Bush should have done after 911, and that is seize the pricing power away from our enemies.
Oil is dancing around $60 per barrel. OPEC is unhappy and wishes to add an additional export tax of $30 per barrel to fund the good works of Saudi Arabia, Venezuela, Iran and Russia. That will drive the price up to $90 per barrel.
The West should not let them get away with it. We have reconciled ourselves to higher energy prices and alternate domestic sources.
The US imports ten million barrels a day. We should add a $30 per barrel import tax.
A $30 barrel tax on imported oil is an astounding $300 million daily revenue stream.
On an annual basis that is about $110 billion. $110 billion is the debt service on $2.2 trillion in debt.
In other words we can finance the restoration of the economy caused by the banking meltdown and financial bailout by simply seizing the taxing ability away from OPEC.
We get the added benefit of giving incubation to alternate domestic sources of energy which in turn will create new wealth and industry.
Seize the moment young man. Kill OPEC.