I like to keep it short and sweet and honest. So the 17th largest producer in oil in the world has essentially done its part to halt any so called economic growth by increasing gas prices to an absurd amount.

So what is strange about that comment? The fact I said economic growth? No, even I will state there have been hints of economic growth. Maybe it could be the fact that Libya, the 17th largest producer of oil in the world has had the same effect as top 5 producers had on our gas prices a few years ago. This further shows a couple of items.

First, which I will spend the smallest amount of time on is the level of greed of oil producers and distributors in artificially raising gas prices by sensationalizing current events. So for that, thank you Exxon, Valero, etc. Also on a local level, thank you New and Thomas distributing.

Secondly, is what I would like to spend a little time discussing. In 1973 the US produced 2/3 of its own oil. Foreign dependence was at a minimal. Of course now that is reversed with us becoming more and more the whipping boy to OPEC. The strength of OPEC's lobby has long slowed down the emergence of US alternative fuel sources. Of course the more humorous item is the fact that we really do not have to have alternative fuels to be less foreign oil dependent. We have 2.3 TRILLION barrels of oil located under our own feet. That is enough to be completely independent of foreign oil for almost 300 years at today's level of usage. Imagine our world without the need to depend at all on the middle east and the powers of OPEC? Imagine prices around 50 dollars a barrel. Of course those oil supplies are somewhat non-traditional and often have OPEC supported environmentalist blocking the development of these areas. Two-thirds of the largest supply are in the shale fields of Colorado, Wyoming and Utah are under federally protected environmental areas. Personally, even though I do not subscribe to Darwinism, I like the whole survival of the fittest argument. Of course the oil companies have to develop technology and need oil prices to stay at least 50 dollars a barrel to be viable. Personally, I will take 50 bucks a barrel over the 103 we are at now.

In the end, think how much you are willing to take in gas prices. How important are the caribou and random birds? Personally, I like to say "I've got gas".

For more information regarding large areas of untapped oil in the USA check out The Kiplinger Letter http://www.kiplinger.com/businessresource/forecast/archive/The_U.S._s_Untapped_Bounty_080630.html