LTE: Gas Prices

Feeling better that gas prices started coming down? Well don’t. Jan. 28 2008 gas prices hit rock bottom at $1.61 a gallon and President Obama was sworn in. Oil futures speculators had pushed the price of gasoline to $4.12 a gallon in November of 2007 and down fell the already damaged economy. Unlike economist blinded by special interests, I  see a direct contrast with jobs, the economy and the price of gas at the pump. Once again speculators pushed the price of gasoline up to $4.00 a gallon and the economy stumbled. everything had risen some 30 percent and yet our government says we have no inflation. Just last October the industry said they wanted to hike the price of gas to $3.50 by summer of 2011 so by driving it up to $4. and easing it  back down to the $3.50 range Americans will accept the price hike. WRONG. Everyone is feeling the results of higher gas prices. Jobs are now being lost as people cannot afford gas, food and clothes. The price range in which the economy will thrive is $1,85 and as it goes up in price down goes the economy. We have the oil, we need refineries built, and we need to develop our own . New reports show America has as much oil and gas as does the Middle East and yet we set our goals only on artificial alternative fuels, and our Government can’t see the economy falter as they allow the high prices so that alternatives seem a good deal.

Ed McGarvey


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