Armchair Pundits

Tired Yet?

Where I live in the Twin Cities, gas is nearing three dollars a gallon. In some suburbs, it's already there and on the coasts, prices can be anywhere from $3.50-$3.75 a gallon. Ouch!

So what's the solution? The president is touting alternative energy and that has to be the long-term focus, but what about today? The answer is ANWR. The very presence of a congressional commitment to explore will bring the prices down, because the market is driven by two main factors--psychology and earnings. The market reacts positively when it perceives good news. For instance, the market doesn't care about the politics of presidential candidates as much as it prefers incumbency. The reason, he's a known commidity and the market likes predictable patterns.

Exploration in ANWR demonstrates a significant commitment to reducing foreign dependence on oil and regardless of what we are actually capable of doing with the oil, should we find it, the mere presence of a drill in Alaska will make the world's oil markets react in a manner we can all find more palatable at the pump.

So instead of complaining the next time you fill up your car or SUV, call your senator and congressman and tell them to actually do something for a change.

posted by Grisby @ 7:20 PM