Editor:
Senator Obama’s energy policy consists of trying to reign in speculation of oil in the markets, promoting alternative energy sources and increasing the mileage standards of automobiles.
First, the automobile manufacturers have been increasing mileage standards for years, and they are currently producing smaller, fuel efficient cars which get 35 to 45 miles per gallon.
Second, alternative energy sources, e.g. wind, solar, thermal, hydro, tides can only provide a very small portion, maybe 10 to 15 percent of our energy requirements.
Third, the supposed speculation of oil in the markets has its root cause in classic economic conditions.
Since the demand for oil is approximately equal to the available supply, prices are high, and any perturbations in the supply of oil puts upward pressure on prices. Supply is controlled by OPEC, domestic production, and U.S. refineries. To increase supply we have to increase domestic oil production and build refineries. On the demand side, gasoline consumption has been steadily decreasing in the U.S. due to less travel, a switch to smaller cars, car pooling and the increased use of mass transit systems.
Unfortunately Senator Obama came up with an untenable program, because he does not have the experience and good judgement to make sound decisions.
John McCain will increase domestic oil production, build nuclear power plants, promote alternative energy sources and encourage reduced gasoline consumption
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