Peak Oil News: CNN: Linking High Oil Prices to Geology

Saturday, October 16, 2004

CNN: Linking High Oil Prices to Geology


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Julian Darley, Post Carbon Institute and political analyst Professor Larry Sabato, Center for Politics (Uva) are featured in this CNN Headline News and CNN Financial News segment addressing the real geological driver behind rising gas and oil prices.

News Anchor: Sticker shock at the gas pump. It's an unwelcome turn of events, especially to a nation of consumers historically accustomed to ample supplies of cheap energy, supplies which have become increasingly tight.

Julian Darley: We've had some of the world's lousiest discoveries of oil in the last few years, and this is putting us in a real bind. So does the average voter understand the geological thrust of this? I really doubt it.

News Anchor: But Americans are noticing. Nearly ten times as many consumers are concerned about rising energy prices now than were worried at the beginning of this year, according to the University of Michigan Consumer Confidence Survey.

Republicans are talking about it: Voice of Bush Platform: John Kerry and the liberals in Congress have voted to raise gas taxes ten times.

News Anchor: The Democrats have made a point of it, too: Voice of Kerry Platform: The powerful and well connected get what they want from George Bush and Republicans in Congress. Drug companies get a 139-billion dollar bailout. Drug prices skyrocket. CEOs get big corporate tax breaks for shipping our jobs overseas. The Saudi oil family get special favors. Gas prices soar.

News Anchor: Analysts say neither candidate is being fair.

Larry Sebato: Both men's charges are ridiculous. Neither candidate, either the United States Senator from Massachusetts or even the incumbent President of the United States controls the price of gasoline.

News Anchor: The only answers to the energy problem are producing more or using less, but neither Bush nor Kerry is selling sacrifice on the campaign trail. The last President who did, Jimmy Carter, was trounced by Ronald Reagan.

To go without or even go with less, and they certainly don't like to pay more, analysts say that when voters walk into a polling place irritated, they usually take it out on the incumbent.


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