Posted by Lord Spatula I, King & Tyrant @ 21:50
Larry Kudlow had a very interesting observation today – one that’s nail-on-the-head right.
Democrats keep saying that it will take 10 years or longer to produce oil from the offshore areas. And they say that oil prices won’t decline for at least that long.
In a dramatic move yesterday President Bush removed the executive-branch moratorium on offshore drilling. Today, at a news conference, Bush repeated his new position, and slammed the Democratic Congress for not removing the congressional moratorium on the Outer Continental Shelf and elsewhere. Crude-oil futures for August delivery plunged $9.26, or 6.3 percent, almost immediately as Bush was speaking, bringing the barrel price down to $136.
Now isn’t this interesting?
Isn’t it, indeed? Bush lifts a moratorium on offshore drilling and just talks about it, and the price drops nearly 10%.
Kinda makes you wonder what would happen if: a) the Imperial Socialist Congress dropped its moratorium, too, and/or b) we actually started to drill.
I’m willing to bet we’d see $60 oil again within three weeks. Which is why the Demoscum don’t want us to drill – they want to keep the price artificially hight, so that we’ll be forced to “go green” as it were, and have their wishes forced upon us at the point of an economic gun.
Reason enough for us to go all Malcolm X on the lot of them, if you ask me.