Forget economics and do us a favor

I'm trying to figure out how Bush's recent meeting with Saudi's leadership asking OPEC to increase oil production makes any sense to OPEC. The underlying argument appears to be that if the oil prices get too high, it will hurt the US economy and we'll buy less oil. So why should OPEC care? If they sell less oil at a higher price, that allows them to hold reserves of their non-renewable resource for longer, and to keep their stronger negotiating power and wealth as compared to non-oil producing nations. And just because the US is suffering over these high oil prices doesn't mean other rising and western nations won't pay the prices:

White House counselor Ed Gillespie said Mideast leaders have talked to Bush about "the vast demand that's on the world market today for oil." He said that was "a legitimate and accurate point."

So what exactly are our leaders asking for? Foreign nations, please do something not in your economic interest to benefit a leading economy that restricts visas against your population because we're worried that you're terrorists. Really, it's time to stop band-aiding the American fuel problem and instead fast-track the alternate solutions. By alternate solutions, I mean dramatic improvements in vehicle fuel economy, better public transport across the US, and farm-produced fuels. I do not mean oil drilling in Alaskan wildlife refuges.

Technorati tags: OPEC, oil+production, alternative+fuels, economics+oil





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