With the Energy crisis that we are in with rising oil prices, it simply amazes me that only one candidate, Senator Hilary Rodham Clinton, is the only candidate that addresses the big oil companies making huge profits by gouging the price of a barrel of oil. Other candidates have energy strategies, but are not willing to recognize the record breaking profits of more than $40 billion dollars that the oil companies raked in last year. Senator Clinton has spoken of the tax breaks that continue to be in effect for the large oil companies that help drive the high prices. Her proposal is a $50 billion fund, with the partial assistance of the oil companies, to fund investments for alternative energy, better fuel efficiency and basic energy research.
I have been hugely disappointed in the current administration and how they have handled the strain that has been put on the American people by rising oil prices. This does not only impact the fuel they must put in their cars to get back and forth to their jobs, but it impacts the gas that fuels their homes and not as directly, but the groceries they buy to feed their families. Every part of the US economy is suffering from what I feel is out of control economy strategies. The president is more worried about “winning” a fight than taking care of his own country.
Countries around the world are watching the US economy as theirs depends heavily on what happens to the US dollar. The economy of the world depends on the choices of the US government, and there is not enough effort going into how they will keep the US from entering a recession. We have to make good decisions about a candidate that is going to keep the interests of our country at the forefront of their agenda, otherwise, we will continue to watch our country sink into a recession that will take years to get out of.
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I am writing this in response to a blog titled “Crude Crusade”. In the “Crude Crusade” the author talks about the record breaking profits the oil companies made last year. The author failed to mention that the oil companies make only around five cents per gallon profit on every gallon of gas they sell. On the other hand, the federal and state governments make around 46 cents per gallon of gas sold. Which seems more fair, five cents per gallon profit for the company that does all the work or 46 cents profit to the government for doing nothing? Did you know that there is a democratic representative from Michigan who wants to add a fifty cent per gallon tax to gasoline to force people to cut down on consumption?
The United States has very little control over the cost of crude oil. Opec member countries can restrain their crude oil production as they see fit. Opec nations, which the United States is not a member, account for over two-thirds of the world oil reserves and more than 35% of the world’s oil production. If they choose not to increase production, there is not a lot we can do about it.
The author also talks about the disappointment they feel in the current administration’s handling of rising oil prices. The author failed to mention that this administration has continued to talk about how we need to support alternate fuels and to get off oil. The administration also put in its 2006 budget 84 million dollars to be used for on-going research for ethanol and biodiesel fuels. The administration also tried to get additional drilling for oil in our own country in Alaska. The environmentalists would have nothing to do with that. Even if we were able to drill for additional oil in our country, our refineries are running to the max. We have not built any new refineries since 1976.
The President is only as good as the Congress. Unfortunately with a democratic controlled congress, the chances of this President getting anything passed are slim. I can’t see the congress wanting the President to get any credit, especially in an election year.
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