tag:blogger.com,1999:blog-3503986435514614182.post8207004667858904028..comments2024-02-18T23:52:40.165-08:00Comments on Citizen Warrior: Let's Put on the Pressure: Our Representatives Need to Feel Our CommitmentCitizen Warriorhttp://www.blogger.com/profile/06265844262699107352noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3503986435514614182.post-48930514725918800472011-05-26T17:43:59.776-07:002011-05-26T17:43:59.776-07:00The following is an excerpt from an article in the...The following is an excerpt from <a href="http://www.iags.org/wsjakjw.pdf" rel="nofollow">an article in the Wall Street Journal</a> by James Woolsey and Anne Korin:<br /><br />Oil is a fungible commodity with a global price. Even if the U.S. did not import a drop of oil — or if all, instead of just most, of our imports came from Canada and Mexico — we'd still be vulnerable to the vagaries of the oil market and price manipulation by OPEC.<br /><br />In 2008, when the world price of oil rose to $147 a barrel, truckers in Britain struck against the huge resulting diesel price. The price skyrocketed even though the United Kingdom was then producing virtually all its own oil...<br /><br />The cartel that dominates the global oil market sits on 78% of the world's conventional oil reserves. The reason it accounts for only about a third of world oil production is because it is a conspiracy in restraint of trade. When non-OPEC countries drill more, OPEC simply drills less and drives prices back up. If demand is reduced through a one-time improvement in efficiency, OPEC again drills less and prices zip back up...<br /><br />To outmaneuver OPEC, the market needs to be able to react dynamically. That means giving purchasers of fuel the ability to choose a different fuel at the pump if it's cheaper that day than gasoline or diesel...<br /><br />One very good way to accomplish this is for Congress to adopt the Open Fuel Standard Act...<br /><br />Brazilians already have this option: During the oil price spike in 2008, with 90% of their new cars fuel flexible, they bought more alcohol fuel than gasoline.Citizen Warriorhttps://www.blogger.com/profile/06265844262699107352noreply@blogger.comtag:blogger.com,1999:blog-3503986435514614182.post-29789283559180348772011-05-26T16:17:59.463-07:002011-05-26T16:17:59.463-07:00Or we could drill for oil on our own continent? S...Or we could drill for oil on our own continent? Seems easier to me than shipping it over.Anonymousnoreply@blogger.com