No Crisis In Oil

To the Editor:

There is no crisis in oil in the world today. For the first 200 years, United States consumed more energy each year than the year before. Since 1979, United States used less energy than the year before. That is the direction it’s going. Since 1988, many new areas became large oil producers such as India, China, Egypt, Brazil, Columbia, Syria, Oman, North Sea, Alaska, and a very large deposit around the Caspian Sea. South Yemen recently came on line with oil reserves of 611 billion barrels.

The new producers have deeply cut into OPEC’s market. This new oil club has drastically reduced the West’s dependency on OPEC [as has] new technology development such as new oil recovery techniques, new design of nuclear power plants, nanotechnology development of photovoltaic cells, new types of atomic batteries with a 20-year charge, fuel cells, etc.

The direction is overabundance of oil and energy.

Why high oil and gas prices? The answer is greed! Exxon/Mobil increased profits this past quarter by $5.76 billion, largest quarterly profits in the history of the US corporations. Texaco profits up 476%, Conoco up 376%, Shell up over 400%, etc.

In proverbs 1:19, “So are the ways of everyone who is greedy for gain; it takes away the life of its owners.” The bottom line is the American consumers is being fleeced. There is no oil shortage but the over abundance of greed. Write to your senators and congressmen today.

Marcel LeRoi

474 South Flathill Road, Southbury                             April 5, 2005