Gerald Staack: World oil collusion

Letters to the Editor
Letters to the Editor
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According to a recent NPR report, “The U.S. is the world’s largest oil producer.” Saudi Arabia and Russia, not far behind, have colluded to “increase the price of oil over the next 10 years.” It’s already happening, but people do have the power to reduce the price of oil.

Historically, every time there is a glut of “world oil,” prices drop at the pump; but, there is a way of maintaining glut by reducing demand (which also eases global warming). It’s achieved in a way that has consumers using less oil while getting paid to do so. It’s actually already done in the Canadian Province of British Columbia with great success..

It’s called “Carbon Fee and Dividend.” Ideally, implementing it in every state of our union would boost the well-being of the American society already suffering the consequences of this “world oil” collusion.

Gerald Staack

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