Can we stand united on US energy policy?
It’s time for Democrats and Republicans to unite on energy policy
Last week President Obama took the course many Presidents before him have when gas prices have risen, he blamed speculators. Others have blamed the President for not drilling, and yet others have blamed the Fed for devaluing the dollar.
They probably all deserve a little blame, but it seems without comprehensive energy policy that moves America away from foreign oil as quickly as possible, we can be sure the blame game will go on and on, with little impact on gasoline prices either now or into the future.
Without question, today’s gasoline prices are not based purely off supply and demand fundamentals. Uncertainty and fear are also part of the equation.
Will the Libyan crisis last years? Is Nigeria next? Will the uprisings in Syria and Yemen cause even more instability in the Middle East, spilling further into the Arabian Peninsula causing a Saudi revolution that will squash OPEC deliveries overnight?
Yes. Some call this uncertainty speculation, others call it hedging. For instance, is it wrong for a large airline to make bets on the future of energy prices as a way of managing price volatility since their entire business model is entirely dependent upon energy prices? Certainly, some are trying to game the system, but that alone isn’t driving prices higher, it’s America’s blood-thirsty demand for cheap energy that is the critical problem.
Unfortunately, cheap foreign oil just isn’t that cheap anymore, particularly when OPEC shipping lane and political bribery costs, for instance, are added into the equation. Add war costs and cheap gas starts sounding like the worst kind of oxymoron. Cheap gasoline is only cheap as long as the real costs are hidden.
Wanna blame somebody for high gas prices? Start by blaming yourself. Then blame at least the last 7 Presidents and every Congress during that time.
Then, put the blame game to rest because there is plenty of blame to go around. Instead, demand that Congress make this issue a top priority, one that will require political compromise between Democrats and Republicans. And, if you can’t handle political compromise, if you believe that just drilling or just plug-ins are the only solution, then you’re still part of the problem, even if you drive a hybrid, plug-in or domestically powered natural gas vehicle.
Neither Democrats nor Republicans can drive this issue, only WE the people can, together.