Friday, October 17, 2008

Drill ourselves silly?

Isn't it more than a bit silly how politicians and some normally sensible people act during campaigns?

Just take the offshore drilling idea.

I find it is always best to follow the money and you'll understand much better.

Ignore the fact that drilling takes a decade and say we could buy that deep ocean oil tomorrow. Gas prices could drop $0.02 per gallon. But, of course, if it had any real impact, OPEC would just reduce production by 2% simply closing a valve -  that would be the end of that brilliant idea.

So why the big noise about drill, drill, drill? Simple, the oil companies get $2 Billion in subsidies for drilling offshore, but none for drilling on the land they already lease.

"If you can keep your head when all around you are in panic; you may not understand everything that's happening." - jm

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