Oil and gas prices have risen again in the wake of OPEC's call for the price of a barrel of crude oil to rise to much higher levels.
"The price will go to $80-$90 maybe at the beginning of 2010," OPEC's Abdullah al-Badri told the Reuters Global Energy Summit.
The price of oil has risen to nearly $70 this past week.
And higher oil costs means that American motorists will continue to see higher fuel prices at the pumps.
In the past week, the average price of unleaded gas in the US rose nearly 9 cents a gallon to $2.52.
All of this means that hard working Americans will be paying more out of their pocket to fuel the economies---and politics---of OPEC countries.
This ominous warning that oil prices will continue to increase comes at a critical time for US policy makers.
In the past weeks the US has continued to borrow heavily from the Chinese government to pay for deficit spending and two great US automakers, General Motors and Chrysler, have gone bankrupt. Unemployment is rising and thousands more will soon be out of work.
Now billions more will be siphoned off from the US economy to countries who are not our friends.
The time is now for Ameria to regain its national and energy security. The time is now to build American jobs here in America.
It's time to fully endorse renewable domestic biofuels.
READ MORE
- $115 a Barrel Oil is Too Cheap
- America's Energy Source Choice: Midwest or Middle East?
- Energy Victory Through Competition
- OPEC is Not Our Friendly Neighbor
- NozzleRage Against OPEC
- Energy Victory Through Competition
- OPEC Blames Ethanol For Higher Oil Prices
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