Instant election analysis:

• Prop 87 failed in CA: This measure would tax oil companies to fund alternative fuel research like ethanol and was probably a bad piece of legislation. Could this be the turning point for taxpayer support for ethanol?
• Goodbye payment limits: With Rep. Collin Peterson the likely Ag Committee chairman, I think the Treasury doors are now officially open (wider). The only hitch would be if Pres. Bush decided to make up with conservatives by starting to veto excessive spending. No, seriously.
• Prop 204 passed in AZ: The measure would ban gestation crates basically in a state with almost no large hog operations. I dunno, but this type of measure looks repeatable around the US. It's just too hard to defend for such a small political payoff for most elected officials. Wasn't even close.

Above all, now the Democrats are on the hook for Iraq just like the Republicans.