Oil continues to drop

Since my last post much has happened on the energy front.  Oil prices have continued to drop as reported by CNN, Fox News, and other news outlets.  Some of the articles written include one through the Deseret Morning News entitled "Oil prices dip again on signs of waning demand".  House Speaker Nancy Paloci said on CNN's Larry King Live she would open up a vote on off shore drilling provided the vote was on a larger energy package.  In the same interview she has stated she would like to release oil from the National Oil Reserve in an effort to reduce gas prices.  Speaker Paloci has also been quoted stating Oil companies should be using their multi-billion dollar profits to invest in renewal energy and not continue to ask for tax breaks to pump oil when they are making so much money.

I may not agree with Speaker Paloci on a lot of things she has done but I do agree with .  However, we need to have Congress put tax breaks in place which will encourage energy companies to make as much of an investment into renewable energy as they initially did many years ago into pumping and refining oil.  Please take the time to write your elected officials to encourage them to make these strides.

On another front related to this energy crisis is that of mass transportation.  An example of this is what the Utah Transit Authority is doing to help bring mass transportation options to more people in the Salt Lake Area.  Their current and most ambitious project in this arena is called "Frontlines 2015".  This project, funded with a recent increase in sales tax, will build 70 miles of rail in seven years or less.  Ground has been broken for the "Mid Jordan" line, the "West Valley" line, the "Airport" line, and "FrontRunner South".  Another line called the "Draper Extension" will be started as soon as the opponents are done delaying the project in the courts.  These projects will get more people on mass transit than ever before in the Salt Lake City area.  Hopefully these projects will be completed faster than 2015.

As of late, the drop in oil and gas prices has not been in the news as much.  The topic that has been in the news more is the increase in inflation and cost of living.  The Deseret Morning News reported yesterday the cost of living in Utah is double the national average.  This increase is directly related to the cost incurred in the transportation of goods which is directly related to the cost of energy, specifically oil.  The Deseret Morning News is not the only news organization to report such an increase.  FoxBusiness has this report and CNN has this report.  Something needs to happen and it needs to happen on a National level.  Please write to your elected officials and tell them how you feel and what you feel ought to happen.