2.5 Percent Rise In GDP Equals 4 Percent Rise in Oil

Today the US government released GDP numbers for the last quarter.

It was an anemic 2.5%. In historical terms, a quarterly GDP number this low is alarmingly low. It is not high enough to spur employment growth. It is not high enough to outpace modest inflation. It is not high enough to pull this country out of the serious economic doldrums it has dug itself into.

And yet, 2.5 percent is enough in today's energy depleted economy to send oil prices up over 4% and to a three month high. West Texas Crude hit $93 plus per barrel today on economic numbers that would have sent them a buck or two a barrel lower only two or three years ago.

I know we are suffering from a credit crisis. I know we have a serious debt issue. I know that unemployment is unacceptably high and that the American Dream is under attack in nearly all corners of this country. But, in my opinion, it is this country's obtuse energy policy that will keep it from recovering in a healthy way over the next few years.

America can simply not recover when every modest step it takes toward a rebound results in a shovel to the head in the form of energy prices.