The slippery slope of increasing oil prices.

[sarettah]

Originally posted by Mike AI@Apr 6 2005, 03:36 PM
I know the ignorant masses and those who are still upset that Bush won re-election think prices are up because of Iraq and Halliburton - but the fact is this has been priced into the market for over a year.

I don't know about anyone else, but where did I indicate that this was a result of the administration.

The fact of the matter is that our economy is pretty much at the mercy of the energy companies. Whether it be market forces that drive the price or greed that drives the price, fact is if energy prices go up virtually all tangible goods prices rise in response and the economy ends up taking a hit.

It is the fault of the past 100 years of administrations, congresses and voters that we do not already have a readily available alternative fuel in place. Teddy Roosevelt warned about it back in 1901 or 1902. In his address to the graduating class of Harvard's engineering school (I believe..) he stated that it was going to be their job to produce an efficient alcohol running engine because the oil was going to run out.

For the century since then, each and every administration and congress has passed the buck to the next generation coming up because there is/was enough oil to get us through for now.