So pumping petroleum out of the ground from wells is beyond the pale because CLIMATECHANGE! And moving low-cost petroleum from Canada through safe pipelines is a crime against humanity? But pumping it out of the Strategic Petroleum Reserve is just A OK? The reserve that is intended to provide petroleum during national crises like war and natural disasters? Not man-made price dislocations caused by a profoundly stupid and malign political philosophy!
Of course that political philosophy is socialism. Let us not pretend that the attempted destruction of domestic oil production is anything other than part of the long march, in which petroleum — a product inextricably linked with American independence and individualism — is demonized and made scarce. It will also create economic shocks that are profound; driving people into the cities where transportation is subsidized and, at least on the surface, cheaper than burning expensive fuel in one’s own car.
The logical disconnect is obvious, yet our media are marching in lockstep with the Democrat party in support of restrictions that do absolutely nothing other than increase the price of energy in America. We’re still burning it…it just costs more. Fuel has an inelastic demand curve…it has to get extremely expensive before people start decreasing their usage. But they reduce their demand for other goods, and that damages growth. Which is the point.
It’s also amazingly stupid, and maybe the American public, which has been asleep for generations, will finally notice that there is an easy and cheap way out of the huge economic issue of high fuel prices, and it isn’t dipping into emergency supplies of oil!
Open the Keystone pipeline, sell oil leases, remove restrictions on fracking, and we will once again be net exporters of oil. It won’t take long.
Read more here: http://acecomments.mu.nu/?post=396604
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