We’re finally starting to see some signs of life from the Bush administration and republicans in congress. Unfortunately, what we’re seeing is another half measure… I’m all for increasing domestic oil production and building new refineries, but those measures won’t have a significant short term impact on the price we pay at the pump.
It’s the dollar stupid!
Since 2001 the value of the dollar versus foreign currencies has declined to the point where we ought to start calling it the American Pesso, seriously, it’s the weak dollar more than anything else that is driving up the price of oil and other commodities.
If the president and congress were really interested in bringing down the prices we at the pump, or in the supermarket for that matter, in the short term they’d be talking about strengthening the dollar not arguing about whether we should drill domestically or not.
Just my two cents.