The price of retail gasoline could fall by half, to around $2 a gallon, within 30 days of passage of a law to limit speculation in energy-futures markets, four energy analysts told Congress on Monday.
Testifying to the House Energy and Commerce Committee, Michael Masters of Masters Capital Management said that the price of oil would quickly drop closer to its marginal cost of around $65 to $75 a barrel, about half the current $135.
The creation of a comprehensive U.S. energy policy that tackles issues of increasing domestic supply and reining in consumer demand via conservation should be Congress' focus, Ryan said. "Instead we're on bended knee begging the Saudis to put more oil on the market and talking about shutting down spec trades."
I hate to say this, but $2 gas (remember when we thought that was high? It wasn't very long ago.) is probably the worst thing that could happen to us.
Yes, it would ease the financial pain at the pump, which relief is desperately needed by many, but unless buying gas HURTS, the leadership of this country, if we ever get any, will never get around to passing a comprehensive energy policy that takes into account all forms of energy for the increasing and future needs.
Nor will Americans ever change their profligate, wasteful energy habits.
Folks have said for many years that the only answer to this problem lies in high prices so everyone tales this seriously and changes their ways. They are being proven correct.
I heard a guy on Charlie Rose say last night that "oil is the enemy of democracy", and I think he makes a good point. As long as the oil-consuming nations of the world continue to shovel money to the petrofascists that hate us and use our money to undermine us, nothing's going to change.
No comments:
Post a Comment