July 26, 2001

Price dips aren't end of energy problems

It is difficult to believe Americans are so short-sighted and forgetful that a few cents' decrease in gasoline prices will prompt them to move energy policy reform down on their agendas. Yet analysts say that just may be happening.

Gasoline prices have dropped substantially during recent weeks. In some locations, regular-grade gasoline can be purchased for less than $1.10 a gallon. Suddenly, $2-per-gallon fuel seems to be a bad dream rather than the very real possibility it was in May.

President Bush's advisers are worried that lower fuel prices may convince Americans there is no need to take a long, hard look at decades of counterproductive federal policy concerning energy and the environment. The White House response has been to send high-level officials ranging from Bush himself on down out into the hinterlands to drum up support for the president's energy proposals. Vice President Dick Cheney moderated one public meeting on the issue in Monroeville, Pa.

The message is a simple one and, frankly, something of which no thinking person ought to need a reminder. It is that gasoline prices are subject to frequent, dramatic fluctuations. Since 1997, the up-and-down cycle has been particularly noticeable.

Also worthy of consideration is the fact that the United States now depends on foreign sources for most of its petroleum -- and other nations, led by OPEC, are mindful of the need to occasionally lower prices in order to keep demand high.

Bush has called for a reasonable national energy policy that encourages use of plentiful fuels such as coal and nuclear energy, emphasizes conservation, and calls for better utilization of domestic oil and natural gas resources.

The nation's energy crunch won't go away. Ignoring it just because gasoline prices have dipped just doesn't make sense.