As was stated in this week’s edition of The Patriot Post: “…ours is an economy that relies on a stable energy supply, and this volatility in fuel prices is a reflection of the instability of our present supply.”
Bottom line, there are more people that want the world’s fuel then there is currently fuel available to give them.
Two decades ago when gas prices were cheap here in America, we were not competing against the rapidly emerging and gigantic economies of China and India.
These two nations alone are rapidly expanding and growing with enormous populations of people, and thus the energy needs involved in that expansion are tremendous. That need creates enormous demand from the world’s limited supply, thus driving up prices.
Had we here in America been taking advantage of the vast oil resources right here in our own back yard over the past few decades, by both drilling for it and refining it, we would have a far greater advantage, a much stronger weapon with which to fight this volatility.
As it is, we have become completely dependent on foreign oil. At the same time, we have been reluctant at best, negligent at worst, in pursuing new energy options for the future.
The United States of America needs to begin a comprehensive effort of drilling for oil both off-shore and at places such as the ANWR area in order to tap our tremendous reserves.
At the same time we need to be greatly increasing our refining capacity by building new facilities. Finally, we need to accelerate research and production of alternative energy sources, including the building of many more nuclear power plants for electricity.
None of these steps will alleviate prices overnight. We may never see $2 or $3 per gallon gasoline prices ever again at American pumps. But we can stop buying gas-guzzling SUV’s and mini-vans, start tapping our own resources, and stop funding the very terrorists who would destroy our way of life.
Drill, refine, research, modernize. No matter who we elect as President this fall, it will not change the current oil situation. But we can begin to change the future of the next few decades for ourselves, and the ensuing generations of our children and grandchildren.