ENERGY COSTS DRIVE INFLATION

SHOCKER! No way is this a shocker, Hello, with oil near $150 per barrel, everything is getting more expensive. There is only so long that business can absorb this expense before passing it on to the consumer. WE NEED AN ENERGY PLAN TODAY! We ship over $60 billion a month to other companies for oil. Why? Because we have let the big oil companies keep our addiction up and high. I don't like government intervention, but if a $1 tax on gas had been applied 10 years ago at an incremental pace, then our SUV's would be getting 40 MPG today and gas would be around $3 per gallon including the tax. We would not be sending our equity to the OPEC nations.

Just my opinion,

Jeff Cameron

Inflation Rate Hits 26-Year High
By MARTIN CRUTSINGER,
AP
WASHINGTON (July 16) - U.S. consumer prices shot up in June at the fastest pace in 26 years with two-thirds of the surge blamed on soaring energy prices.The Labor Department reported that consumer prices jumped 1.1 percent last month, much worse than had been expected. Energy prices rocketed upward by 6.6 percent, reflecting big gains for gasoline, home heating oil and natural gas.The big rise in prices cut deeply into consumers' earning power with average weekly wages, after adjusting for inflation, dropping by 0.9 percent in June, the biggest monthly decline since 1984.
http://money.aol.com/news/articles/_a/inflation-rate-hits-26-year-high/20080716092709990001