Even Bill O’Reilly agrees with me:
The rapid rise in Oil Prices and the concurrent rise in gasoline prices was caused by speculators in the oil market, reductions in gas refinement, the drop in the dollar value because of speculators, and China stock piling diesel fuel for the Olympics. There is no way that it was remotely related to supply and demand. Demand fell as the price climbed. Even conservative estimates say that so far this year Americans have driven 50 billion miles fewer than just last year.
Even worse than that is the fact that the Congress conceded the point to an angry electorate and passed a bill expanding drilling. That inspite of the fact that there is no oil in ANWR or along most of the continental shelf, there will be no bids on the leases if they are ever put up for sale, and we don’t have any oil rigs to drill there anyway. Every last rigg in the WORLD is spoken for right now.
So given all of that why is John McCain still touting the policy below?:
John McCain Will Commit Our Country To Expanding Domestic Oil Exploration. The current federal moratorium on drilling in the Outer Continental Shelf stands in the way of energy exploration and production. John McCain believes it is time for the federal government to lift these restrictions and to put our own reserves to use. There is no easier or more direct way to prove to the world that we will no longer be subject to the whims of others than to expand our production capabilities. We have trillions of dollars worth of oil and gas reserves in the U.S. at a time we are exporting hundreds of billions of dollars a year overseas to buy energy. This is the largest transfer of wealth in the history of mankind. We should keep more of our dollars here in the U.S., lessen our foreign dependency, increase our domestic supplies, and reduce our trade deficit – 41% of which is due to oil imports. John McCain proposes to cooperate with the states and the Department of Defense in the decisions to develop these resources.
Shouldn’t we be saying “anywhere but here, anytime but now”? Like New Orleanians say about hurricanes.