IMHO, crude oil will never be much less expensive than we've seen in the past few months. Critical to America's economic future is a realistic, sustainable energy policy that can be implemented soon. For now, Bush is right to keep the Strategic Oil Reserve untouched and let the price move with the markets. The Reserve is for a real emergency, not a price increase.
Why haven't the Democrats hopped on to pressuring Bush to tap the Reserve like they did last time the price of gasoline shot up? Is it because the price of gas has not shot up? If gasoline prices have not increased, heating oil increases will likely be around the corner as refineries are making that now rather than the summer supply of gasoline. Methinks they're saving this issue to air closer to the November elections. Or, perhaps they have no energy policy with any substance yet?
If I were a terrorist, I would do all I could to disrupt the Western world's oil supply and tricgger economic instability and dislocations that will result from $50-100/ barrel oil. That's where the price is headed.
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