Who benefits from the oil crisis?

April 28, 2011

I agree with op-ed contributor Peter Morici that economic recovery will spur demand for gasoline and jet travel ("Obama's failed oil policy," April 26). However, his idea that the money Americans spend on higher gas and vehicle prices will stay home to create good jobs does not appear to be working out.

BP, for example, has posted great earnings. Yet the average American finds climbing gas prices a major challenge that fuels popular demand to drill everywhere, regardless of the consequences for the environment.

Mr. Morici claims that expanded domestic oil production won't add to our environmental problems, but that's assuming there's not another major oil spill or similar disaster.

Lastly, consider that when former President Bill Clinton and former Vice President Al Gore complained to Robert Pitofsky, then head of the Federal Trade Commission, about a few cents' rise in gas prices, the spike reversed.

Isn't it just possible that former President George W. Bush fired Mr. Pitofsky and replaced him with his own man mainly because he, Vice President Dick Cheney and former Secretary of State Condoleezza Rice were all closely affiliated with the oil companies?

The oil and gas energy elite tend to remain in power, whoever is in office.

Hilda Coyne, Baltimore

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