Oil Close To $65 A Barrel
As I drove across the Yukon today, a lead story on Canadian national news was that oil had edged close to $65 a barrel in U.S. money.
This is as big a concern in Canada as it is in the U.S. Canadian gas prices are actually higher than American.
At the same time, President Bush was signing an energy bill that does next to nothing to reduce American reliance on foreign oil.
Something is going to have to give here, and it may be the Republican majority in Congress in the next elections.
What is obvious is that the oil industry and the Arab oil producers write their own ticket these days and the Administration sits there and takes it.
At least the Clinton Administration used the oil deposit reserve to jockey oil prices a little lower. Bush has done nothing with that.
We read that Brazil is using a mixture of half ethanol in many cars. Some argue the energy input to produce ethanol is higher than using gas and not using ethanol. But this ignores the fact that at least the ethanol producers in America are Americans.
It does no good not to confront the oil producers on prices. We need to do so in some way, or see the price continue to rise, ruining our economy and costing the country ever more. We cannot assume the oil producers have good will toward us. Quite the contrary.
This Administration seems strangely quiet when it comes to defending American interests outside the War on Terror. Perhaps, if we did on oil, we could command more support from Europe and elsewhere.
Just some thoughts as I headed toward Telegraph Creek, BC and the Stikine River.
Meanwhile, congratulations to Tom Gorman on becoming a columnist for the Las Vegas paper.