So they (whoever "they" are) are talking about $200 a barrel in oil. Let's take a moment and review. According to the Department of Energy, the average cost per barrel of oil for the last few years has been $36.98 in 2004, $50.24 in 2005, $60.24 in 2006, $67.93 in 2007. In May 2007, the cost was $61.64. Today it is $123.
Does any reasonable person really believe that over the last year the demand for oil, either in the United States or globally, has doubled or that supply has decreased by half? Yet Congress, the president and "they" keep telling us this is simply normal market forces at work.
As John Stossel likes to say, "Give me a break." Maybe it's time for drastic measures. Two words come to mind: price control. Could the results be any worse on the economy than the current oil price?
Doug Fullmer
Murray