Wednesday, March 12, 2008

$4 gasoline?

Read this article and scratch your head. I've touched on this before, but we have oil reserves we are not allowed to tap because of Congressional mandates. If that oil were brought online, we would not be funding dictators of regimes that support terrorism. Nor would we be converting our food to fuel. But this is what the Congress wants.

Now we learn that our leading source of oil, Canada, may not be able to ship the oil from its tar sands to the U.S. because they do not meet the criteria of "renewable energy." It seems as if we are rushing pell-mell to cripple our own economy.

Something weird is afoot here. In the words of Deep Throat, I think we need to "follow the money." In the meantime, the price of gas continues to climb as demand drops. That is not how free markets work.

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