Oil and gas prices: Too much blame, too many excuses, one simple truth
I am somewhat amazed at the myriad of reasons attributed to high gas prices that I’ve been recently reading about in the Post-Dispatch. Our government blames commodities specualtors, supply and demand, China, India, the seasons, weather, potential weather, etc., but they fail to mention the world-wide instability and anti-American sentiment caused by Mr.Bush’s invasion of Iraq and his bellicose overtures toward Iran and other Middle Eastern countries. I don’t think Mr. Bush would have invaded Iraq if its major export was asparagus instead of oil.
The U.S. is the world’s third largest producer of oil behind Saudi Arabia and Russia, as well as its third largest oil EXPORTER. U.S. oil companies continue to blame the “tree huggers” for not being able to build new oil refineries, while during the Bush Administration, they have continued to rake in their highest profits in history. The oil companies have not built a new U.S. refinery since 1976 while the EPA reports that between 1975 and 2000 it received only one request for a permit for a new refinery which it approved. However, during the same period, “Big Oil” has been applying for and receiving permits to modify and expand existing refineries which must shut down during the modification process resulting in diminished oil supplies which increases the price of gasoline. Sounds like a plan.
In March of 2001 the Federal Trade Commission concluded that U.S. oil companies had intentionally withheld oil supplies in order to drive up prices and our government took no action against them. Is that what’s been going on lately? They create a shortage and prices rise because of this shortage resulting in untold anguish and sacrifice for the majority of American citizens. The Bush/Cheney/Rice oil cabal and the U.S. Congress have let the oil companies pillage the American populace for the last seven years while, adding insult to injury, continued to give them tax breaks. Thank God that these parasites will soon be out of office and hopefully Congress will be shamed into taking action which will help resolve this untenable situation instead of continuing to solicit campaign contributions - bribes - from the oil companies.
Ed Olsen
Affton
Mr. Olsen, tell us again who is responsible for these high oil prices….
http://www.foxnews.com/story/0,2933,365627,00.html