Gasoline prices are not just an American problem. Gas prices are set by the price of oil in world markets, the cost and availability of refinement, and the taxes that governments tack on to the top.
Oil Company profits are not part of some evil plan, although $400 million retirement packages are pretty absurd. The profit comes from a supply and demand problem worldwide where supply is not growing as fast as demand.
The problem with the price of gasoline in America is most affected by the efforts of the left to restrict supply. America buys oil from foreign sources because it is cheaper to extract there. But with that comes a problem in our inability to control production levels that satisfy our needs, as well as the world's needs.
We use more oil than any other nation, which is not a bad thing, because we also are the most productive nation and have a very high standard of living. But when OPEC wants to increase their profit margin by causing supply shortages that boost the cost of oil in world markets, we either live with it or find alternatives.
Now I'm all for alternatives to oil, but I'm not going to spend a penny myself on them until it saves me money to do so. Oil and gasoline is still the cheapest and most economical option today, but if Democrats and liberals get their way, they will price America out of gasoline dependency and into some much more expensive alternative. The affect that will have on our economy will be devastating.
The world supply of oil needs to increase. With increased supply the cost per barrel will drop and we will be less dependent on OPEC and other oil producing nations. We need to drill in Anwar now! Maria Cantwell and her bunch should be voted out of office for what THEY are doing to the price of gasoline in America.
We need more refinement capability. Democrats and environmentalists who have halted the increase in refinement capacity need to be ignored and we need to increase our ability to refine.
Finally, taxes on gasoline should be eliminated and replaced with more "progressive" alternatives. Taxes on gasoline and fuel hurt everyone, including the poorest Americans and add to the cost of goods.
Gasoline is actually a miracle of nature, and the advancements in technology to reduce vehicle emissions have made it a true bonanza to the industrialized world. Until an alternative presents itself that is cheaper, I fully support increasing oil production. I prefer domestic drilling because we can control production, and I support increasing refinement.
Anyone who alleges that our high gas prices are the fault of Bush or the oil companies needs to be rebutted. Regardless of what America does to reduce our demand; we live in a world where demand continues to increase. The problem cannot be fixed on the demand side, but only by increasing supply. We're competing with the world when buying crude, so the only way to contol prices is going to be to increase - not decrease - production. And then once we have it, we need to be able to economically refine it, and that means expanding - not reducing - our nation's refinement capability.
