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Letters to the Editor

Oil numbers

July 19, 2008

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To the editor:

We now have $4 gasoline - on its way up. In 1970, oil was $1.39 a barrel; four years later, $8.32, and, today, $140. T. Boone Pickens predicts $150-$160 oil and puts his money in wind.

Gerald Posner's 2005 book, "The Secret of the Kingdom," states: "They (Saudi Arabia) could push production to 15 million barrels a day and maintain that for a remarkable 50 years. Through the 1990s, it only cost Saudi Arabia about 50 cents a barrel to get oil out of the ground. This has grown to $2, but Saudi Arabia still makes over $300 million a day!"

Saudi Arabia is happy. Since the 1973 Yom Kippur War, they have wanted to punish American support of Israel. We need to wake up! Like a spider sucks the life from its victim, the vitality of our people is being sucked from us.

Jesse Newman,

Lawrence

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