The Fox Guarding The Hen House

As the price of a barrel of oil dips into a downward trend, despite OPEC cutting production by 1.5 million barrels, this tells us one thing for sure, "Supply Wasn't The Dammed Problem!."

The speculators who leveraged their positions (borrowed money to buy oil futures) and drove prices skyward milking every 'teensy-weency" rumor or hurricane into a false story to conjure up reasons for higher prices, are now the dead and dying!

We should never again be believe these Wall Street fools who made so many of us poorer when we all had to fork over food, rent money, any and all savings in many cases just to get to work. Uncle Sam failed us again. Any more it's more like the fox guarding the hen house.

Again and again these "Washington nitwits" didn't listen to the general public. They didn't listen to or read the truth about what was really happening and I tend to think that high oil prices are exactly what many in Congress wanted. So there was a lack of resolve regarding these issues. All they wanted to do was anything but their job and blame everyone else. There is absolutely "no accountability" on Capital Hill and no excuse for not acting quickly and effectively to stop these astronomical prices.

If you haven't read Ed Wallace columns you should. You can find him at Inside Automotive dot com. Others during this last oil crisis went about shaking their heads in total amazed disgust at the lies driving up the price of a barrel of oil. They were asking questions like, "why are so many tankers anchored in the gulf"? If there were a real supply problem the reverse would be true.

Basic fundamentals were overlooked and information the government used was dead wrong. Even President bush said we were "addicted to oil". What rubbish. And, that statement is dead wrong too. This Nation was built on our current transportation structure of having more roads and freeways than trains like Europe. Countries in Europe have always had to deal with a lack of natural resources and thus they built more rail and other modes of transportation. Their streets are narrower, cars are smaller, and their drives generally shorter.

So, this business about an oil addiction falls on deaf ears as far as I am concerned.

So what now? I saw gas at $2.09 this day and there are all indications it will fall below two bucks soon. Do we stop trying to develop ways to improve fuel economy? The answer is a resounding "NO".

First, we need to get the speculators, the ones still breathing, out of the market Two: we need to continue conservation
Three: we need to find more sources of oil domestically
Four: we need to continue development of other sources of fuel and methods of getting better fuel economy

Just my thoughts.