Oil, One Step Foward....

Two steps back. Friday in "Important Oil Meeting", I shared the hope of many Americans that the meeting of big oil producing nations hosted by Saudi Arabia over the weekend, would bring relief at the pump. The results from the meeting are mixed. Saudi Arabia the world's largest oil producer, kept their promise to boost production; one step forward. Many analysts say that alone will not drive down oil prices any time soon; one step back. Wall Street today is closely watching a tense situation in Nigeria that could potentially disrupt supply from Africa's largest oil producer; two steps back. I can't stress it enough that we must do EVERYTHING in our power to drive down oil prices. Hopefully many small measures can have a cumulative effect on the oil market. Congress must reign in the oil speculators and countries must boost production to increase supply. Demand for oil has already dropped off some, in the wake of the high prices. I think most importantly, we must seriously and willfully explore alternative energies and take advantage of all our oil resources at home. Congress must act now to permit drilling in places off the U.S. coast that OTHER COUNTRIES are already taking advantage of. Sound like a good idea? Add your voice to the chorus, sign the petition:

Drill Here, Drill Now, Pay Less