As Congress is poised to consider legislation addressing the high price of fuel, a coalition of financial trade associations has launched a campaign to counter calls for tougher regulation on "energy speculators" and to urge lawmakers to embrace solutions that are friendly to energy markets.

The newly minted Smart Energy Policy Coalition this week unveiled its Web site, SmartEnergyUSA.org, and placed print advertisements in D.C.-area publications. The first ad [PDF], "20 Reasons," warns Congress against "overly restrictive rules" that could impede global markets, detailing what the coalition sees as the real causes behind the high prices, including the weak U.S. dollar and a low level of investment in alternative energies.

Also in the energy arena, the St. Petersburg Times takes note of the American Petroleum Institute's months-long, multimillion-dollar ad campaign aimed at convincing Congress to end the moratorium on offshore drilling -- the effectiveness of which will be tested when lawmakers consider the issue in the coming weeks.

In other advertising news:

-- A federal district court ruled this week that a Utah campaign finance law defining political groups is too vague and runs the risk of limiting political speech. (Salt Lake Tribune)

-- Members of a Wisconsin election watchdog are eyeing regulations that would require financial disclosures from groups purchasing ads aimed at candidates for state Supreme Court. (Milwaukee Journal Sentinel)

-- In Colorado, nonprofit issues groups and 527s have spent some $7 million on attack ads and other campaign tactics targeting candidates for state and federal office. (Rocky Mountain News)

-- The Obama campaign recently became the first to place a long-form ad on Elections '08 On Demand, a program package available to 32 million viewers across several cable services. (Broadcasting & Cable)

-- Georgia Democrat Jim Martin launched a round of ads this week in his campaign for Senate, spending $224,445 for 2 1/2 hours of broadcast time. (Atlanta Journal-Constitution)

-- This election cycle has brought "exponential growth" in the purchase of "sponsored-link advertisements" on Google's search engine. (USA Today)

-- Washington lobbyists are also increasing online advertising buys through Google. (The Hill)