Fuel Costs Rising and No Energy Policy

Sam Allis used his column in Today's Globe to address the issue of rising fuel costs:

"The shock of oil is here to stay. Worldwide demand has changed the calculus forever, and anyone over room-temperature IQ knows that prices over time will continue to spike -- thank you China -- until they eventually dampen demand. Natural gas isn't much better."

Yes, China's rise as an economic power carries a cost. It requires fuel and their demand has increased 10% just last year.

"This situation is irritating for the rich, crippling for the middle class, and lethal for the poor."

A limited budget hit with rising costs creates problems: food or heat eventually becomes a no win situation.

"What did they all scream for? A national energy policy. They obviously would write different legislation but agree the chaos that now exists is insane. "We need one for a hundred good reasons," says Bo."

So can Washington come up with one? Can those with the wherewithal, i.e. those with access to the oil industry use that leverage for good? Or will they continue to sit back and allow the refineries to profit.

"That said, there's a killing going on at the refineries: "They used to get $5.50 for profit and processing. Now it's $14 in profits alone." (Bo notes that refiners made bupkis for 20 years.)"

Given that the election is over, hopefully the Red vs. Blue argument has run its course, and if not, then all the more reason to find a real issue to jointly tackle and find a resolution to: developing and implementing an energy policy.

What do you think?