In writing my commentary yesterday “MID-EAST TURMOIL AFFECTS US” your Commander failed to clearly explain my two primary bullet points. Specifically when I stated – There are obvious logical solutions to these two devastating economic problems emanating from the Middle East. – I failed to clarify the cause and effect of growing food and oil prices.
In an effort to clarify let me state the following. The economically flawed promotion of corn based ethanol by Al Gore and our government has led to huge increases in food prices domestically and world wide. One of the major causes of unrest in the Middle East has been the increased price of food.
With the demonstrations across the Middle East there is a growing concern that the Suez Canal passage may disrupt the shipment of oil, which causes further inflation of per barrel prices of oil, and the price of gasoline per gallon throughout the world. We have the ability to off-set the price of oil by increasing domestic drilling immediately.
Growing unrest in Algeria, Yemen, Bahrain, Jordan, Syria, Iraq, Iran, Somalia, and Saudi Arabia are acerbated by high food prices, and inter-dependence on oil revenues. We must continue to search for an economical alternative fuel, but in the meantime America should stop the promotion of corn based fuel, because it inflates food prices. We can likewise increase domestic oil production to off-set inflated gas prices from foreign imports.
Sorry for my failure to articulate my position succinctly.
COMMANDER GRANGER
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