Pump Prices Hurt Americans: WSJ

CAPITAL JOURNAL
By GERALD F. SEIB

Both presidential candidates are focusing on the economy this week, and for good reason: $4-a-gallon gasoline has Americans sliding into pocketbook shock.

But pain at the pump is only one reason energy now should be the central issue of this year's campaign. Here's the other, more insidious one: High oil prices are shredding America's financial independence and producing a massive transfer of wealth from U.S. pocketbooks into the hands of suspect actors around the world, including Iran, Venezuela and Russia.

The U.S., in other words, now has an energy problem that is not only draining the bank accounts of its own citizens, but filling up the bank accounts of some who work against American interests around the globe. It's hard to imagine an issue that more deserves campaign prominence.

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