23 Feb '12, 9pm

Without Competition, Oil Companies to Suck Money Out of Our Wallets

Without Competition, Oil Companies to Suck Money Out of Our Wallets

Our fundamental problem surrounding gas prices in America is a lack of choice. With few exceptions, we must all fill our cars with oil-based gasoline. If we don’t like it, too bad. As long as oil maintains its monopoly on our transportation system, we remain shackled to high gas prices, global instability and an industry that can continue to take record profits because it lacks real competition. The spike in gas prices we’re seeing now is because of two things: Increased demand from our improving economy and rising tensions with Iran. According to analysis from Wall Street , we can only expect these price spikes to continue. More drilling in the United States won’t make a difference — not now, not in the future. The United States uses about 25 percent of the world’s oil, but has less than 3 percent of the world’s known oil reserves, according to the U.S. Energy Information...

Full article: http://cleantechnica.com/2012/02/23/without-competition-o...

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