Saturday, June 14, 2008

Right Here. Right Now. Let's Drill.

Sign this petition demanding that:

. . . the U.S. Congress to act immediately to lower gasoline prices
(and diesel and other fuel prices)* by authorizing the exploration
of proven energy reserves to reduce our dependence on foreign
energy sources from unstable countries.

The first thing out of Madame Pelosi's mouth will be that this won't help because it will take 10 years before the oil will flow. That argument is irrelevant for three reasons.

First, even if that is true, all the more reason to start now. Who knows how bad things might be in ten years? Besides, most of those 10 years would be caused by bureaucratic red tape which Congress could easily cut through.

Second, much of the increase in oil prices is due to speculation in the futures market. If the USA begins to tap its own reserves, it will likely result in a drop in oil prices due to the expectation of increased supply in the future. Buy low, sell high.

Third, the oil producing countries which we are currently dependent on will have less incentive to restrict current production. They love the high price of oil and that they have the USA over a barrel (no pun intended). It was embarrassing to watch President Bush go over to our so-called friends, the Saudis, and beg them to increase production, only to be told (and I'll paraphrase here) "Go pound sand." If we start moving towards more domestic production, I think they will be more interested in producing more oil in the hope that it might discourage us from becoming too enthusiastic about cutting the petrol-umbilical cord.

And now, for your YouTube viewing pleasure, a message from Chuck Norris:

HT: Powerline

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