The Bush administration has joined talks with Iran that will address their nuclear program and make an effort to avoid potential military action. The Bush administration has refused to join talks with Iran unless they discontinued their uranium enrichment efforts. As the president's term nears an end, the administration has changed its tune and joined talks despite Iran's refusal to disband their uranium enrichment. The policy change may have to do with increased oil prices and the administrations desire to not only avoid conflict but also gain access to Iranian oil.
Whatever is behind the Bush administration's policy about-face, it's good news for the United States, which cannot afford another war. It's also thrilling to see and administration that scorns diplomacy join an internationally lead effort to work things out with the Middle East. Bush gets a gold star for this one.
(Originally reported by Thomson Reuters.)
Showing posts with label oil. Show all posts
Showing posts with label oil. Show all posts
Wednesday, July 16, 2008
Monday, July 7, 2008
Gas Prices Drop!
Oil prices dropped by 4 dollars a barrel today! In anticipation of the 4th of July holiday, traders drove up prices last week as they stock piled oil. With the holiday over, there's more oil on the market, which mean slightly lower prices.
The question is of course whether the price will stay where they are at for a while. Analysts are quick to say lower prices won't last, however even a little financial relief is something, especially when you consider the United States spends $1 billion more on gas than it did five years ago.
Like many Americans, I need to drive to work and even a minor price decrease is welcome. Yet high gas prices have forced Americans to reevaluate their energy consumption and using less of anything is good in the long run. The higher prices have also forced the private sector and the government to take action and start developing green energy sources. It's just unfortunate that it takes a crisis to produce positive action.
(Original reporting by the Associated Press.)
Labels:
American gas consumption,
gas prices,
oil,
oil prices
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