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Gas prices will kill the economy

Published: Mon, February 28, 2011 @ 12:00 a.m.

Gas prices will kill the economy

THe other day, gasoline in Boardman was selling for $3.39.9 per gallon. I bought gasoline a week a or so earlier for $2.91.9 per gallon. What has happened in the meantime to justify a 48-cent per gallon increase in the cost of gasoline? The answer is nothing.

I recently read that oil company profits are at an all-time high. You haven’t seen anything yet. It does not cost anymore today to pump a barrel of oil from the ground than it did two years ago. The oil companies and speculators can drive the price of oil to any level they want.

Both are quick to jump on the situation in the Middle East to raise prices. It doesn’t matter that plenty of oil will still be shipped in from the Middle East and other producing nations. Our government takes no interest in serving the countless drivers in the United States. Our president wants the price of gasoline to go up to $5 per gallon or higher. What will happen when that occurs?

I have heard several of my friends say that they can barely afford to go to work now. We are in the process of trying to recover from a severe recession at the present time. Does anyone think that $5-per-gallon gasoline will expedite that recovery?

I read that the United States has a strategic reserve of 1.8 billion barrels of oil with an untold amount of oil that could be taken from the ground. It is time for the United States to take over production of oil in Alaska and off-shore reserves.

If I were president I would demand that the price of oil be no more than $40 per barrel, which would break the backs of the oil companies and speculators. I am tired of having my standard of living constantly reduced by these people. It hurts me even though I am retired and can selectively choose to drive.

George Grim, Boardman


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