Friday, June 20, 2008

Obama: Off-Shore Drilling Won't Lower Gas Prices

Okay - now this fool has me worried.

Technically he's right - it would take a LOOOOOOOOONG time for any oil to actually be produced from off-shore drilling on the east coast of Florida.

But doesn't he understand that the futures market would react ALMOST IMMEDIATELY to news that we were going to get aggressive about tapping every last drop of remaining oil?

However, his alternative of taxing the bejesus out of the oil companies and turning that money over to us I whole-heartedly agree with.

On the other hand, I don't think even Obama has the nerve to really say how bad this is likely to get.

It really is starting to look like we've hit "Peak Oil".

Also interesting that he has mentioned something that I've been hearing quite a bit here - people who have been out of work a while can't even afford the gas to make it to interviews.

I really find myself wondering what the long term game plan is with some of the people in the most trouble. How exactly DOES one go about the process of economically ditching?

I mean - are we talking a "Trail of Tears" situation here where when you finally do run out of everything and the sheriff comes to evict you that you have to HIKE from Amelia, Latonia, Mason, Liberty Township, Harrison, and Lawrenceburg to the Drop-In Center???

(Oh - and BTW - what the heck is that thing going by over the bridge at 0:28 that looks like a shuttle pod from Star Trek: The Motion Picture??)



At June 21, 2008 at 10:39 PM, Blogger Althusius said...

Just curious, why wouldn't the oil companies just raise their prices in order to pay for the increased taxes that get levied on them by an Obama administration?

It just doesn't seem to me that the solution to higher prices is higher prices.


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