St. Cloud Times - Write Now: War, Dollar, Inflation Drive Gas Prices

Op-Ed

St. Cloud Times - Write Now: War, Dollar, Inflation Drive Gas Prices

Today's Times Our View, "Candidates must add details on their plans," invites U.S. Rep. Michele Bachmann and her Democratic challenger Elwyn Tinklenberg to explain in detail how each of their respective energy plans will achieve the objective of reducing the price of gasoline.

While the focus on the two major-party endorsed candidates is understandable, party nomination is by primary election. For Bachmann to be on the ballot in November, she first has to win the Sept. 9 primary, in which I am challenging her for the Republican nomination.

In that context, I offer a modest proposal for reducing the price of gas: Stop printing and borrowing money to fund unnecessary foreign wars - specifically, the war in Iraq.

Printing money and going deeper into debt to pay for the war and occupation creates inflation and drives down the value of the dollar, which adds to the high price at the pump for U.S. consumers.

Yes, we need to increase the oil supply by expanded drilling; yes, we need to reduce demand by conserving energy; yes, we need to explore alternative energy sources. But reducing the price of gas cannot be achieved with simplistic solutions and empty promises.

No sensible plan to reduce the price of gas can ignore the links among war spending, monetary policies, inflation, the depreciating dollar, the dollar foreign exchange rate, and the distortion of market forces resulting from foreign fuel subsidies on the price we pay at the pump.

Aubrey Immelman

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