The Sunday New York Times included an article, American Energy Policy, Asleep at the Spigot. The article outlines high oil prices and what was done (and not done) since the 1970s to reduce our oil consumption: “Over the last 25 years, opportunities to head off the current crisis were ignored, missed or deliberately blocked, according to analysts, politicians and veterans of the oil and automobile industries.” In addition, biofuels are now inextricably intertwined with food and oil prices—the World Bank apparently says biofuels have raised food prices by 75%.
It’s time for long-ranging and forward-thinking policies for both food and fuel. And yet, in this election year, we instead hear a lot of talk about attempts to lower prices at the pump as soon as possible. As such, rather than instituting long-range plans, and making hard decisions, political leaders are seeking policies to extend the status quo. That would be another in a long series of mistakes.
With oil and food prices outpacing inflation and causing hardship both here and abroad, U.S. policy is hard to explain.
There ain’t no reason things are this way
It's how they always been and they intend to stay
I can't explain why we live this way,
We do it everyday.