Oil Prices and a Trip Down Memory Lane

Tuesday, September 27, 2005

Oil Prices and a Trip Down Memory Lane

Five years ago, during the summer of 2000, gas prices spiked upward (although nowhere near the level they've reached today). Back then, Iran-Contra alumnus Oliver North wrote a column in which he took shots at presidential candidate Al Gore, saying that consumers are "getting 'Gored' " at the pump.

North wrote:
Truth be told, the price of gas is high because the Clinton-Gore administration has no influence with the OPEC cartel and because -- and this is important -- they want higher gas prices.

In his monumental tome, "Earth in the Balance," Gore extols the virtues of higher gasoline prices as the way to get rid of the evil internal combustion engine ...
So if those are the two reasons why gas prices rise, then which explains the situation in 2005, Ollie? Does the Bush administration have even less influence over OPEC than Clinton-Gore? Or does the Bush gang want higher gas prices?

In this 2000 presidential debate, Bush assured Americans that oil was "an issue I know a lot about." If so, it didn't make him a success in the oil business. And, if so, Bush's knowledge has not proven all that beneficial for the average American.

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