To the editor:
Some are complaining that the high price of gas is killing their budget. And they blame the administration, the big oil companies, and OPEC for our distress. But is that where the blame really lies?
Many people do not understand that the commodities futures market is where the worldwide price of oil is set. Oil speculators have been out-bidding each other and driving the price of crude oil to double what it was a year ago on the international markets. So why do you suppose that is happening?
It is because the America oil consuming public has convinced speculators that we would be willing to pay $5 to $7 per gallon for gasoline. Why in the world would they think that, you ask? Well, we tell them that when we publicly declare that we don’t care how high the price of oil goes as long as we can provide drilling for oil anywhere off our shores or on the north slopes of Alaska. We actually want the price to be so high that people cannot afford to drive their cars. And with fewer cars on the road, the earth will be saved. Of course, any politician who expects to get elected must adopt that environmental policy as a platform, otherwise he must face certain defeat. The speculators know that as long as we are sending those signals, their future is very bright because we will pay whatever price they demand. In short, the price of gas is going through the roof because we want it that way. We need to stop blaming other people for our self-created energy problems.
In reality, we could have a green earth and reasonably priced oil, too, if we would signal the world that we are going to simultaneously drill for oil and employ the most modern energy practices and technologies available as we move into the future. But the purveyors of environmental doom will not tolerate that. I am concerned that we are going to be left without any voices of moderation and reasonableness in an atmosphere of political insanity no matter who gets elected president.