Wednesday, June 18, 2008
Is our president dumb? Does he lack critical thinking skills? Why is he persisting in trying to reduce the cost of gasoline in this country solely by increasing supply? Saudi Arabia has already increased production by 300,000 barrels of oil a day and is pledging to increase production by another 200,000 barrels a day, and we've only seen gas prices go up. An extra half a million barrels of oil every day is doing nothing to decrease their cost!!! Why has it not occurred to this man and his advisers that the price of oil isn't responding to a simple supply and demand relationship--it's responding to the falling strength of the dollar, and to what traders are doing on Wall Street? Mr. Bush, if you really want to help Americans, strengthen our currency. Or, better yet, do whatever it takes to get us off oil completely within the next decade or two.