This past week, oil prices reached their highest level since 2008 and peaked at over $128 per barrel. Much like the increases last year, the concern with supply disruptions sent prices higher. This time it was concern with Iran, last year it was Libya — in the not-too distant future, we’ll be hearing about the growing demand in China putting pressure on oil prices. It is a never ending cycle.
Prices may go down temporarily, but historically, they continue a steady climb. Unfortunately, in a flat economy, these increases are especially painful. Oil prices affect so many things from food prices to consumer goods to gasoline. If we are concerned about gasoline prices that approach $5 per gallon, we should be thankful we are not in Europe where gas prices are twice as high in many places.
So what are we doing about it? Well, from our perspective — not enough.
We could digress into a political discussion about the positions of each party on the topic, but I won’t. The bottom line is we need an energy policy that considers all forms of renewable energy that reduce our dependence on oil.
We are in the bio-thermal or wood to energy business and our customers are people who want some aspect of energy independence. If you have purchased one our appliances (or another manufacturers) — thank you for making a difference. This political season, we encourage you to ask your candidates what they are going to be doing to help move our country toward greater energy independence.