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Wednesday, February 22, 2012

Six dollar gasoline and mutually assured economic destruction

Reports from around country today indicate that in some areas gasoline has hit six dollars a gallon. The Obama Administration has done very little to address the systemic problem associated with domestic gasoline production but apparently has embraced Obama's own words from 2007, "Under my plan energy costs will necessarily skyrocket."
Obama had a chance to reverse such an unfortunate course of action by approving the Canadian oil pipeline this year.But he nixed it.
The problem, however, with domestic oil production is complicated and is indicative of how modern industrialized nations have become so economically intertwined that it is difficult to unravel it all to get to the heart of the issue.

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