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So the oil prices continue to rise. With Katrina creating a watery hell in the Gulf of Mexico, it's not surprise really. Gas prices climbed about 13 cents on the average so most folks are looking at a national average of about $2.63 a gallon roughly. OPEC is pumping at capacity. All the oil prices are in the hands of refiners right now. For some reason, they refuse to update the facilities and expand their capacity.
The problem I guess is that right now, I don't have a choice. To get to my job, I must drive. Like many Americans, another car is not an option at this point and even if it were, the hybrids are kinda pricey right now. So... Bush maintains he can do nothing. Hawaii did something. They put in some price controls. While civil price controls aren't desireable in a free market economy, what makes you think you live in a free market economy? We're just making the oil barons rich. They're gouging the prices not at the pump but at the market. They control refinery production, bottleneck that production and then they stick the consumer with a high price. I got news, the economy will start to show signs of wear and tear if this continues.
It's quite frustrating to know that the current administration gets part of its marching orders from the oil industry. They won't budge on this and they need to do something. They should possibly even consider releasing some of the strategic reserves to help calm the market. Of course that still wouldn't solve the problem of refinery bottlenecks.
There are few conservatives I like to read but William F. Buckley is one of them. He's a damn sight better than Coulter (although she has better legs). Earlier this month, he wrote a column on his thoughts on the oil crisis. He had some great insight on what it would take to help really solve the oil problem.
posted by Stithmeister @ 9:23 PM
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I'm currently working in the telecomm industry but one of my passions is still politics.
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