On the 5th of June the full US Senate will debate limiting carbon emissions for industry. But a different debate would actually help us move away from petroleum, faster. The one on how the falling exchange rate of the US dollar is creating unnecessary inflation. And forcing OPEC countries to abandon the greenback.
Common sense says oil producers can’t stay pegged to a currency that loses its value every day. Kuwait and Iran have already moved to other currencies. So Americans need to hear how much imported petroleum will cost when—not if, when—it’s no longer priced in US dollars. THAT’s the debate we should hear.
Speculators yank us around because our way of life depends on petroleum. And we don’t feel any urgency to move away from it. But now, US$4+ per gallon has everyone’s attention. The perfect time for the senators to spell out all the reasons why we need a new energy policy.
