Soaring Gas Prices

OneNewsNow.com reported today in one of their news items that domestic oil is the solution to our mounting energy crisis. The wrote,

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“Ben Lieberman, an energy policy expert at the Heritage Foundation, contends no single factor has led to the record high fuel prices. He says global demand for fuel has increased with countries such as China and India joining "the club of nations that have a ... a thirst for oil and petroleum products." But Lieberman acknowledges that while the supply is being met, there are some political uncertainties "given the trouble spots" in the Middle East, Nigeria, and Venezuela.

”Given these statistics, Lieberman says opening up domestic energy resources is an idea that is long overdue. However, he warns that short-term promises should not be made concerning pump prices, as it will take time to get those resources online.

”Congressman Ron Paul (R-Texas) has introduced the "Affordable Gas Price Act" (H.R. 2415), a bill that would allow offshore drilling in areas previously forbidden and suspend federal fuel taxes when gasoline prices reach a benchmark amount. It would also cut through federal red tape preventing the construction of new refineries, and calls for the U.S. Treasury and the Federal Reserve to produce a report assessing the federal government's responsibility for rising fuel prices."

I blame the current Speaker Pelosi and Senate Majority Leader Reid as well as the Democratic Congress and politicians since the Reagan Administration for putting roadblocks in the way of domestic oil and energy development, along with the environmental and other leftist activists. Together they are the primary culprits for today's energy crisis. It is because we have not been allowed to fully develop our vast resources for flimsy environmental concerns, we have gotten ourselves into the mess we are in right now. The crisis may still have existed, but not nearly to the degree that it is today.

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Only 50 years ago gas cost $.25 per gallon. Today the price of gas in the United States hovers around $4.00 per gallon.

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Here is how much

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would buy in gasoline in 1958

compared to

what it would buy today in gasoline.

The contrast is staggering.

2-0-0-8

One Quart or 1/4 of a Gallon

1-9-5-8

Four Gallons or Sixteen Quarts