atomic_fungus (atomic_fungus) wrote,
atomic_fungus
atomic_fungus

#5158: Holy crap, it WAS during the Bush administration.

Quoth Fungus #1138:
Opening ANWR the offshore areas for exploitation, we are repeatedly told by Democrats and the media, won't do anything about the price of oil now, so we're not supposed to try these things.

We're also told by the Democrats that the high price of oil has nothing--nothing!--to do with the law of supply and demand; oh no, it's those evil speculators who are causing this! The speculators are keeping the prices artificially high! If it wasn't for the speculators, oil wouldn't cost so much!

But some say otherwise, that if we opened our deposits to exploitation, it would take the wind right out of the speculators' sails. So even if speculation is the reason oil costs so much--and it's not--opening our deposits is the best way to shut them down. Open the deposits and drive the price of oil futures down.

But Democrats don't understand economics. If they did, they'd understand why tax, tax, tax, spend, spend, spend, and socialized medicine, and big welfare, and the Great Society, don't fix anything.

If oil should cost $60 per barrel, making a move to increse the supply of oil will drive prices toward that figure. Standing in the corner and refusing to allow it--because it'll take a few years for the oil to start flowing, thus benefitting some other politician--sure as hell doesn't fix the problem.
And, rather unexpectedly from a vantage point in mid-2008, drill baby drill (fracking) ended up creating an oil glut, with the result that gas is at least a dollar cheaper per gallon even after six years' worth of serious inflation.

It does, however, demonstrate how much stake the Democrats had (and have?) in keeping energy expensive in the US.
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