Bad timing for jump in gas prices
As stated in the New York Times editorial “Pain at the Pump,” skyrocketing gas prices could not have come at a worse time. Between the crunch on Wall Street, the poor housing market, and the demise of the dollar, nobody is excited about the cost of gas rising to $3.28 a gallon, which is the highest-ever average cost nationally.
Because of the enormous energy prices, Americans have begun spending less on other consumer goods, exacerbating the already weak economy.
While the White House has sent Vice President Dick Cheney to the Middle East to schmooze with oil execs, the Bush administration could have spent its energy and resources looking into alternative energy options. This could have pointed the United States in the direction of energy independence instead of making us more dependent than ever.
Last December’s Energy Bill requires a 40 percent increase in fuel efficiency by 2020. However, if the oil prices keep escalating at this rate, Americans may not be able to afford gas until then. The Bush administration needs to invest in clean energy now.
Look at what Public Citizen’s Energy Division is doing to promote energy efficiency and reducing our dependence on foreign oil! https://www.citizen.org/cmep/