Convene a gas summit now

Thought for the day

Now that OPEC has decided to cut oil production by 2 million barrels a day, it is paramount that President Biden convene a Camp David gas summit with the Big Five oil companies now.  Their combined profits for the first half of the year have been nearly $100 billion while consumers are paying record high prices for gas at the pump.  I'm old enough to remember when gas cost 35 cents a gallon.  Today, here in California, it is virtually $7 a gallon.

To be sure, a gas summit has inherent risks.  But doing nothing will lead to far worse consequences.  I believe that was Jimmy Carter's analysis when he spent 13 days at Camp David with old warriors Anwar Sadat of Egypt and Menachem Begin of Israel in 1978.  Lest anyone has forgotten, their peace accord still is in effect today.

At the rate prices at the pump are skyrocketing, it won't be long before gas is $10 a gallon.  Joe Biden knows this is unsustainable.  I urge him to convene a Camp David gas summit as soon as possible.

-DF