By JLP | June 6, 2008
The price of oil has been on my mind a lot lately. This morning’s WSJ had an article about how Congressman Bart Stupak is looking for the villian responsible for high oil prices. He claims oil prices are being manipulated by trading houses and futures markets. He may be right but I think he and the rest of congress must share in the blame for high oil prices for two reasons:
1. They won’t allow our companies to drill here in the U.S.
2. They aren’t investing enough in other sources of fuel like biofuels.
Why can’t we allow companies to drill in the U.S. if they promise to do it responsibly AND require them to invest heavily in other fuel sources?
I have no idea how much oil is available here in the U.S. Some argue that there’s very little while others say there’s a lot. I don’t who to believe. All I know is that I’m tired of watching oil soar past record after record while our politicians do nothing but make it look like they are doing something.