21 June 2011

Automakers Want Americans to Pay $5 a Gallon for Gasoline

Last week, automakers decided to try to destroy the Open Fuel Standard Act. In other words, they chose to keep us relying on petroleum alone to fuel our cars, the price of which is determined by OPEC.

For many reasons — turmoil in OPEC nations, more difficulty finding and developing new oil deposits, greed, and a desire to bring the West to its knees — it is inevitable that gasoline will reach $5 a gallon. Goldman Sachs believes it will happen this summer. But it will go to $5 without a doubt, and much higher eventually.

This could be avoided if gasoline had any competition. The competition could be easily and cheaply allowed if the automakers were willing to spend the $70 or less per car to make them all flex fuel right now. Within three years, a significant enough number of pumps serving alternative fuels would be widely available and forever after protect us from the domination of OPEC's whims.

But automakers aren't having it. National security? Nah. Energy independence? No thanks. We'd just as soon keep doing what we're doing and to hell with America.


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