Well, the economic news is continuing to slide and things aren’t looking good.  According to the labor department, employers cut another 62,000 jobs in June, bringing the total to around 400,000 or so since January ’08.

The cause?  Well, lets just say that I think it’s reasonable to lay the blame for so many empty refrigerators squarely at the feet of Big Oil.  The never ending, ever increasing greed that has them making record breaking profits while the rest of us spend more money to buy less fuel.

Since the fuel prices keep going up, the cost of moving anything is going up.  Add to that the absolutely ridiculous idea of adding ethanol to gasoline, which is causing the price of corn to skyrocket as well.  Then it follows that anything that’s made with corn and food animals that eat corn and corn products are going to cost more and more.

Meanwhile, we’re burning gas that’s got ethanol in it… in cars that are NOT made to burn ethanol and therefore are not getting as much gas mileage as they should.  You end up having to spend three or more times as much to buy fuel that won’t go as far.

This insanity needs to stop.  Alaskan and offshore oil reserves need to be opened up.  More refineries need to be built, at least enough to double the production capacity.  and instead of spending all their profits buying back their stock and giving raises and bonuses to executives, Big Oil needs to do some REAL research on alternative fuels.

Imagine what they might accomplish if they were to spend 40 Billion dollars on actual research into alternative fuels?

Technorati Tags: big oil, refineries, ethanol, gas prices, research, alternative fuel, jobs, alternative energy, oil prices, production capacity, unemployment, oil reserves

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