Obama Will Celebrate Oil at 100 Dollars a Barrel

With oil heading to $100 a barrel and potentially even higher, Obama may achieve his wish for higher gasoline and utility prices  We could see gasoline at  7 dollars a gallon, similar to that in Europe.  While Obama's moratorium on drilling in the gulf  is not totally responsible for the high prices, it is having a large part in it.  The gulf wells accounted for 31 per cent of domestic production and plans were for this to increase; instead, the gulf production will be reduced.  The hell of it is there is no excuse for the United States to import any petroleum or other fossil fuel.  We have the reserves to meet all our needs; the administration must get out of the way and allow us to produce  enough energy to meet all our needs.

We are continuing our stupid and costly subsidy for ethanol.  This hurts the economy in several ways. Soon 50 per cent of our corn crop will be wasted in ethanol production, and that makes prices higher for cereal, eggs and all meat products.  This and some other energy policies are hurting the economy at a time of very high unemployment.  We elect cowards to serve in Congress.  How much courage does it take to call a halt immediately to subsidies for ethanol and other ineffective and costly energy programs like solar and wind. Let them compete with oil, gas and coal.