So, Bush steps up before the mikes yesterday and says we gotta drill… [1]open up offshore fields… and chides congress about opening up ANWR, and what happens? Price drops $9/bbl almost at once. That’s the biggest drop in the price of oil since 1991 [2].
So, tell me again, oil haters, how our committing to drilling for our own oil, and freeing up domestic production, including ANWR, won’t have an immediate effect on the price of oil… even before such fields come online.
Here we have the mere spectre of a commitment by the US to drilling our own oil, and the price falls like it hasn’t in nearly 20 years. Can you imagine the price drops once Congress actually summons the political stones to follow up with it’s own call to drill domestically? See, here it is….This is the proof the oil-haters were hoping would never happen. And by the way, the MSM won’t report this, for that reason.
And if Congress wants further reason to do this, consider the arguments we’ve been having as regards the state of our economy. It’s in large part due to the cost of oil, and how much of it we import, right? Well, how, in the face of that, can we claim that it’s not in our interest to drill domestically?
Drill domestically, the price of oil goes down, as does inflationary pressure, and thereby the recession gets avoided.
You’d think the Democrats would be able to figure this out. Or perhaps theyr’e just waiting for the election, so they can credit a Democrat President for the fix actually being implemented?
Update: (Bit)
As of noon, the price of crude had dropped another $4.50/bbl. [3] Again, all on the reaction to Mr. Bush’s comments yesterday. The market is taking off, too. All of which goes directly to my arguments, here.