Put the brakes on this runaway

Editor,

Have Americans and the oil companies forgotten the Carter fiasco? He arbitrarily raised oil prices and added a surplus profits tax. The high energy costs raised the cost of everything and runaway inflation resulted.

High inflation caused interest rates to skyrocket to counter the dollar devaluation. The economy crashed, new housing ended for 10 years, the misery index reached double digits, and then the falsely inflated oil boom crashed.

The greedy speculators seem set on suicide bombing the American economy again. Somebody somehow should put the brakes on the runaway. The stupid investors crashed the world economy in 1929 and the '70s and are now getting set to do it again.

The air-headed environmentalists won't let us drill for oil in America on-shore or off-shore, but will grow the "beautiful" flowers for the funeral they are causing.

Ernest Seablom

Ronan