David Crabtree on Assignment

Is it time?

Posted September 26, 2005

Even before Katrina and Rita became household names, gas prices were moving upward more quickly than anyone could imagine -- except perhaps the oil companies. Now, in the post hurricane days, once again the nation is holding its breath to see just how much the prices will rise.

In full disclosure, I am quick to point out that I believe we have brought much of this on ourselves. As Americans, we want the biggest and the best, and we often want it now. Right now! With those entitlements come responsibility and a lack of privilege to complain. (IE: If I want to drive a gas guzzler, it's going to cost close to $100 to fill the tank. If I don't like it, I can get another car.)

Having said that, I am begining to wonder why the President doesn't call a summit of the leaders of the major oil companies and talk about the near- and long-term future of energy in this country. Yes, I am keenly aware it might be all show, but at least the focus of the media would shine some light on the thoughts of these people who truly control much of the destiny of our future economy. What are the concens of EXXON/MOBIL? How does SHELL truly view the future? Does BP have any significant fears of where we might be in 25 years?

I lived overseas in the mid-80s. I saw gas prices in Israel considered a bargain at $3 a gallon -- in 1985. In a country smack dab in the middle of the Middle East.

President Bush is well versed in the business of big oil. He wants more opportunities for big oil to explore for more fuels wherever possible. Isn't it time for that exploration to begin at the heart of the matter?
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About this Blog:

WRAL anchor David Crabtree reports from around the world.