During a press conference last week Bush asked what he thought about economists’ predictions that we would see $4+ gas prices by early spring. He was surprised and said he had not heard that. This is frightening to say the least. The President of the United States, who started a war over oil that is estimated to cost us $5 trillion dollars before it is over, doesn’t know how much gas costs. I wonder if he knows what a burden this is for the average family- prices have tripled during his administration. And it’s not just gas. Heating oil and energy prices have skyrocketed.

Today oil passed the inflation-adjusted high reached during the Arab Oil Crisis of the late seventies and early eighties. World stock markets are in a tailspin. The House of Representatives have passed a bill ending $17 billion in handouts to oil companies (who made $146 billion in profits last year) and moving that money into alternative energy tax credits. These credits are critical to encouraging rapid development of sustainable energy alternatives that can help us end our oil addiction. Yet Republicans in the Senate are blocking this bill and the President is threatening a veto. This partisan block voting is destroying our economy in exchange for short term gain by an industry sector intimately associated with this Administration.