Editor:
You learn something new every day from reading letters to the editor.
For example, I didn’t know the president controls the flow of U.S. money and inflation. I thought this was the Federal Reserve Board’s responsibility. I missed President Joe Biden creating shortages abroad and forcing companies to raise prices. I missed his firing the dock workers and truck drivers who get goods to consumers. I just thought enough people weren’t seeking those jobs.
I learned how the president controls oil and gas prices. Some said he stopped federal land leases, which curtailed oil production. I never knew oil is immediately extracted from leased land. I thought land leases took years before producing oil, if any oil is even discovered. And who knew the Keystone XL pipeline would have been built by now if only the president had approved the permit. I understood this project was basically a shortcut to the existing Keystone Pipeline and still had hurdles to overcome before it could have been completed. I learned that by stopping this project, U.S. oil production was curtailed even though that project was meant to carry Canadian oil to refineries.
Moreover, I thought oil prices were determined by traders dealing in the oil futures market, not by the president. Maybe gas prices would be lower if this president compelled American oil producers to use all U.S. oil solely for gas production. I’ll bet that would make oil producers happy.
Jeffery Keim
Perry Township
Source: Berkshire mont
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