Oil prices are high because of supply and demand.
Demand is high - worldwide: China and India are buying huge amounts, and the whole world is growing and using more energy.
Since we shouldn't reduce demand (because that would reduce economic growth and hurt the poor and the working class), we MUST INCREASE SUPPLIES if we want to reduce prices.
People who block the expansion of supplies make the prices go up.
OPEC only controls supplies from OPEC - and OPEC members only produce 40% of the world's supplies of oil (and a lower percentage of what the USA buys!). And OPEC has NO control over coal or nulcear or wind or solar.
To lower the price of energy we only have to increase the supply of oil - and other energy sources.
We can do this with the stroke of a pen: all we have to do is approve oil-drilling in ANWR and off the coast of Florida and California.
The DEMS are blocking this.
BUT THEY HAD HELP.
THEY HAD HELP FROM JOHN MCCAIN.
The bill to open up ANWR lost on the Senate by ONE VOTE.
And John McCain voted AGAINST it - he's proud of that vote.
McCain was the ONE VOTE.
(Here's a link to a youtube video.) He wouldn't fight Florida's lefties or California's lefties to allow oil-drilling MILES of their coasts in AMERICAN WATERS (YEAH: THE WATERS ARE AMERICA'S NOT THE STATES!)
McCain voted against Bush and the GOP and - IN EFFECT- voted for HIGHER OIL PRICES.
Think about THAT next time you fill up your car's gas tank or you home's oil tank.
Great post, Reliapundit.
ReplyDeleteHere's another stat not many people know. China and Europe get over 50% of their oil from ME nations. The U.S. gets less than 20% of its oil from ME nations.
The U.S. government has not bought oil from Iran for 28 years, BECAUSE THEY THINK IRAN IS AN IMMORAL COUNTRY.
In other words, the United States energy policy is based, at least in part, on morality.
What other nation can say that?