March 15, 2008

Rising Price of Oil

The Truth today carried this editorial from The Beaver County Times, Beaver PA, on the rising price of oil. I share these excerpts:

When President George W. Bush took office in 2001, the price of a barrel of crude oil was around $31.

Before the U.S.-led invasion and occupation of Iraq in 2003, oil cost less than $25 a barrel.

Today oil has topped $100 a barrel, and the price is expected to continue climbing.

Last week, Bush told Americans that the United States has to "get off oil" to reduce dependence on foreign suppliers.

...Bush has done nothing of substance on this national security issue for seven years.

As a result, he wasted a resource that is just as valuable as oil - time. .....