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Friday, April 21, 2006

Oil Hits $75 A Barrel

Why isn’t President Bush stepping up to bat for the American people? He should be hopping mad at the current prices of oil and using his executive powers to tap our national reserves. The longer he waits the higher the prices will climb. Tapping the reserves and dumping it onto the open market is the only way to stop the insanity in the oil markets. At times like these are when we have to act as the leader of the world and put our money where our mouth is.

How many barrels of oil would it take to drop the prices below sixty dollars per barrel? How long would we have to tap our reserves to let the markets know that there is not a shortage? The answer to these questions I do not know but a true leader would.

As for the prices at the pump that is a whole other story. The Wall Street Journal had a great little piece in it about the swapping out of MTBE for Ethanol and how all the experts said that what is happening is what would happen. Did anyone in Washington D.C. listen? Nope. Is there any way to fix what they legislated and jammed down the refineries throats? Nope. Are prices ever going to stabilize? Sure they will but not at prices you want to fill your tank at.

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