Thank you!
Your support is sustaining the future of local news in our communities.

Gas prices a challenge for Obama

Here we go again. A sudden surge in the price of gasoline and heating oil is followed by reported expressions of frustrated despair by hard-pressed consumers in the midst of silence from the oil companies and abdication of responsibility by the elected and appointed officials of federal and state governments.The price of gasoline is up by about 50 cents in the past month, according to AAA, making the average gallon go for close to $4 per gallon in many parts of the country. Prices are even higher in California. AAA says that this “is the most expensive we’ve seen gasoline in the dead of winter.”Every penny increase in the annual price of gasoline takes over $1.6 billion dollars from the pockets of American consumers. That doesn’t even count the higher prices for heating oil homeowners are paying.There was a time when even a few cents increase in the price of gasoline or natural gas would provoke Congressional investigations, actions by state Attorneys General, and condemnations of the producer countries, the OPEC cartel and Big Oil, from presidents and the heads of the antitrust divisions of the Justice Department or the Federal Trade Commission. That is, until smooth, smiling Ronald Reagan came to Washington, D.C. with his mantra that “government is not the solution; government is the problem.”Well, now the multi-layered petroleum cartel has become institutionalized, having “gotten government off its back” and put the New York Mercantile Exchange speculators at the gaming tables.u u uThere seems to be an adequate supply of crude oil in this recessionary global economy. What could be the cause of this latest price spike? The news media offer a spectrum of possible factors — restrictions on exports of Iranian oil imposed by western governments, instability in Syria and elsewhere in the volatile Middle East, oil hungry China, oil speculators on Wall Street and reduced refinery capacity in the U.S.Each price surge in recent decades seems to have different principal causes. This time it seems to have been precipitated by surging prices of crude – easily manipulated – and in the U.S. the permanent or temporary shutdown for repairs of too many refineries.Believe it or not, the U.S. is now a net refined petroleum importer because of the continuing refusal by the industry to rebuild or expand refinery capacity on the very sites where many refineries have been shut down, often in favor of offshore, cheaper installations.Whenever supply and demand for refined oil products is tight, all it takes is for one or two refineries to suspend operations, other than for repairs, and the prices surge all over the country.This happened in January to a refinery in California, due to a fire, and most prominently the closure of a key refinery in Port Reading, New Jersey, owned by the Hess company. Five dollars a gallon gas “is a real possibility,” John Kilduff, partner at Again Capital, told Yahoo! Finance, adding, “this is partly being driven by the lost refinery capacity of about one million barrels per day…that’s a lot.” (The U.S. consumes about 19 million barrels a day of refined petroleum products.)So what can our so-called representatives in Washington do about a gouge that has angered almost all conservative and liberal consumers? Well, the Democratically-controlled Senate can start by holding investigatory hearings. The President can speak out more forcefully and indicate he may release some of the government’s crude oil reserves to increase supply.u u uHe can order his Justice Department to, at the very least, subpoena pertinent oil industry information for starters.Mr. Obama can forcefully back up Gary Gensler, his appointed, savvy Chairman of the Commodity Futures Trading Commission, who has been trying to rein in excessive speculation that drives up prices and punishes the motoring public.In 2011 CFTC data showed that massive inflows of speculative money drove up prices. At that time, even Goldman Sachs analyst David Greely claimed Wall Street speculation in the futures market were driving up oil prices. Earlier, Rex Tillerson, the head of ExxonMobil, estimated that speculation was responsible for a more than $40 per barrel price increase when oil was just over $100 per barrel. Over the last month crude oil has ranged in price from $93-$120 per barrel.Admiral Hyman Rickover who, more than 40 years ago, wisely said that there should always be government-owned shipyards to provide a yardstick by which to restrain the high prices and cost overruns being charged by private ship builders manufacturing the Navy’s ships. That means, in this oil price context, that the government should own and operate some refineries for the armed forces. Any excess capacity could loosen the market with gasoline and heating oil when the corporate interests maneuver tight supplies for which they get immediately rewarded with cold cash.Were Obama to direct some of his bully pulpit heat on those members of Congress who are marinated in oil, he might find more support from Capitol Hill for all these initiatives.So call the switchboard at the White House comment line (202-456-1111) and tell the president that you are fed up and determined to drive less, carpool and walk more where possible, but that he, the president, must be more aggressive in taking on the staggeringly profitable and tax-favored big oil companies.Consumer advocate and former presidential candidate Ralph Nader grew up in Winsted and is a graduate of The Gilbert School.

Latest News

The art of getting into art school

The art of getting into art school

Hudson Valley Regional Portfolio Day returns to Poughkeepsie.

Provided

For a young artist considering college, the question isn’t simply whether the work is good enough. It’s which work to show, which school might be the right fit and even whether a creative life can lead to a sustainable career.

On Friday, Oct. 16, hundreds of aspiring artists will have the opportunity to explore those questions at Hudson Valley Regional Portfolio Day, presented by The Art Effect at the MJN Convention Center in Poughkeepsie.

Keep ReadingShow less
A colorful life together at Atelier Valla

Textile designer Justine Valla sits in her father’s chair, which she painted, alongside her husband, illustrator and muralist Victor Valla, in their Atelier Valla studio.

L. Tomaino
I lost the ability to paint after the accident. I struggled to paint again.
— Justine Valla

Husband and wife Victor and Justine Valla share a lavender and pink studio, Atelier Valla, across the driveway from their pink house, nestled into a hillside in Salisbury. The colors, said Justine, “were inspired by Monet’s house at Giverny.”

Creating art has been a lifelong pursuit for both.

Keep ReadingShow less
David Ruchman’s “Acquired Taste”

Filmmaker David Ruchman

Bleacher and Everard Photography

In a region known for its vibrant but geographically scattered arts community, discovering something new can require a little effort. The same might be said for finding a new place for an extraordinary meal. While the Northwest Corner, Berkshires and Hudson Valley have no shortage of creative talent, opportunities to experience it — whether on a stage, in a gallery or on a plate — aren’t always just around the corner.

In David Ruchman’s short film “Acquired Taste,” that challenge becomes the premise for an unlikely friendship between Nick, an aspiring young food critic living in an area with limited dining options, and a gruff New York City master chef.

Keep ReadingShow less
google preferred source

Want more of our stories on Google? Click here to make us a Preferred Source.

Follow the Clay Way for ceramic delights

Jane Herold’s beautifully simple dinnerware.

Provided

As the leaves across Litchfield and Dutchess counties rush to make it to the ground, your last chance to peep autumn is fast approaching. On Oct.17 and 18, the 10th annual Clay Way offers peepers a route to follow lined with unique art that rivals the area’s natural beauty.

The two-day event is a ceramics-focused open studio tour through northwestern Connecticut, with a few studios peppered in just over the border in Dutchess County. Featuring nine open studios and 25 participating artists, the tour promises a wide variety of work, from decorative objects to grand vessels and a whole world in between.

Keep ReadingShow less
A new home for the unexpected at Kent Fine Art

CAMERON (1922-1995) is on view at Kent Fine Art in Pine Plains through Nov. 14.

Provided

Where can one find the work of an artist associated with occult rituals, surrealist visions and the underground California art scene? In a beautifully renovated former carriage house in Pine Plains, of course.

Unexpected discoveries are, after all, part of what Doug Walla has spent his career making possible. The longtime New York City art dealer and founder of Kent Fine Art, has brought the work of Marjorie Cameron Parsons Kimmel, known simply as Cameron, to his new gallery space. The exhibition, on view through Nov. 14, introduces visitors to an artist whose life and work moved between mysticism, poetry, film and the avant-garde.

Keep ReadingShow less

A new home for Stateline Auctions

A new home for Stateline Auctions
D.H. Callahan

If you’ve driven through North Canaan in the last month, you may have noticed that the big storefront windows at the intersection of Main and Railroad Streets, usually packed with antiques and art, are empty. Stateline Auctions has moved.

Stateline was started by Tommy Matteo and Bruce Kolbacher in 2011. Matteo had already been in the auction world for 15 years and had worked with Kalbacher, an antiques store owner, before they set up shop in North Canaan.

Keep ReadingShow less
google preferred source

Want more of our stories on Google? Click here to make us a Preferred Source.

google preferred source

Want more of our stories on Google? Click here to make us a Preferred Source.