Investor and fund speculation in the energy markets has grown twenty-fold, from $13b to $260b over the last five years, according to CNBC. Speculators are betting there will be no substantial increase of oil supply from domestic oil drilling or new refineries built.
“The key to bringing oil and gas prices down quickly will be opening strategic areas for production which will flush out widespread energy speculation from the market. Serious government action will send speculators running for cover,” says Mr. Smith.
“If enough Americans speak out, as we did in opposing of the sale of
The number one question Americans are asking today is: “Is there anything I can do to prevent $5 to $10 a gallon gas and $150-$200 barrel oil?”
Mr. Smith’s answer is YES! His three-step plan to help lower oil and gas prices this summer begins with a call, email, letter or fax to your Representatives and Senators requesting these three immediate actions:
1) DRILL FOR OIL NOW! — Approve fast-track legislation to begin extracting oil and natural gas from the Arctic National Wildlife Refuge (ANWR), the Outer Continental Shelf (OCS) and deep waters in the Gulf, dramatically reducing foreign dependence.
2) REFINE MORE OIL NOW! — Approve fast-track legislation to build at least four new, strategically placed oil refineries throughout the U.S. as well as build new pipeline infrastructure to deliver finished product throughout the U.S.
3) STRONG U.S. DOLLAR NOW! — Demand the federal government puts a freeze on new spending and reduces our $9.4 trillion national debt and deficits. This action will immediately strengthen the dollar, helping reduce inflation and the price of oil and gas.
To assist the public in letting our voice be heard on this critical issue, Mr. Smith has created a new web site, http://www.oilsolution.org and has posted a template letter, email, fax and phone script to send to your elected officials.
“We need leaders with the political courage to take on the environmentalists blocking access to massive untapped reservoirs of
ABOUT CRAIG SMITH.
Craig R. Smith is the Chairman and founder of OilSolutions.org and author of Black Gold Stranglehold.
As a an oil and economic analyst, Craig instantly engages audiences with his common-sense perspective on national and global economic trends. Over the past two decades he has been interviewed on over 1,500 radio and TV programs including: FOX News, CNN, CNBC, ABC, NBC, CBS, PBS, TNT, CBN, TBN, Time, The Wall Street Journal, The New York Times, Newsweek and World Net Daily. He currently resides in