Economics 101: As supplies of a good decrease, prices increase.
Apparently President Barack Obama never took that course. The Middle East has been unstable for decades and now we have the Egyptian crisis that could further the instability and ultimately result in decreases in petroleum supplies and consequent increases in gasoline prices. Yet, the president continues to maintain bans on drilling in the Arctic National Wildlife Refuge and off our coasts and has the brakes on development of our oil shale deposits.
"Fiddling while Rome burns" comes to mind as a simile.
This nonsense of doing everything possible to cause oil, coal and gas prices to rise so that costs for windmill, geothermal and hydrogen energy become competitive will grind our economy to a crawl. While the installation of new nuclear power plants in China and India move right along, such installations in the U.S. are slowed by bureaucratic hurdles that make little sense except to "green" alarmists and Jane Fonda.
Digital Access for only $0.99
For the most comprehensive local coverage, subscribe today.
The 2012 election cannot come too soon if we are to right our ship. Obama is exposing this country to the possibility of a severe economic crisis.
Jim Benford Hilton Head Island