In 1972, the heads of the major oil companies declared we would be out of oil by 2005. They were "concerned" about our country's welfare.
The oil companies were only making about a billion dollars a year and Europe was paying $5 a gallon, so we should have been "thankful" for paying about 70 cents per gallon.
It was evident that gas prices were going to $5 a gallon.
Several things went wrong. A couple of Democratic presidents and a few years of Democratic congresses, plus consumer cutbacks, slowed the process.
In 2001, when the Bush administration took over, Vice President Dick Cheney had his secret meeting with the oil company CEOs and a plan was devised to make sure that gasoline prices went to $5, or more, a gallon. This was not because of oil reserves or problems in the Middle East. It was because of greed, backed by a Republican administration and Congress.
If you want oil companies to show billions of dollars in profits per quarter while collecting corporate welfare and if you want to continue paying exorbitant prices for gasoline, then by all means elect John McCain as president, and re-elect Mac Thornberry as your representative and John Cornyn as your senator.
http://www.amarillo.com/stories/051708/opi_103474573.shtmlIn Texas no less. Ha!