Saturday, May 24, 2008

Rising oil prices: Caused by past failures

As gas prices reach record prices levels our politicians “cure” is to clamor for windfall taxes to punish those greedy oil companies. Instead of recognizing the errors of our past policies that have allowed us to increase our dependence on Saudi oil they would rather blame oil companies even though, as I have pointed out in a previous post, Exxon Mobil controls less than 1% of the world’s oil supply.

What could we have done? There is a laundry list but at a minimum here are two possible avenues.

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