Coyote blog has a great explanation of why oil isn't being driven up by speculators here. Its definitely worth the time reading.
A couple of my own thoughts: Obama doesn't support off shore drilling because it will have no immediate effect. This is ironic for a couple of reasons. First isn't he touting himself as the long range visionary. Second if the democrats had been allowing us to drill off shore and in the arctic we wouldn't be in this bad of a predicament. Lastly their is nothing that will provide immediate relief. It takes time for consumption to come down or production to go up. These off shore well do take a few years to find and develop.
Next thought. People are changing the cars they purchase to more fuel efficient models. However with the average age of registered cars in America being 8 or 9 years the US auto fleet is going to take at least that much time to turn over into more efficient models.
Lastly for our own national security we ought to be increasing our domestic oil production capacity. That to me seems like a no brainer.
2 comments:
YEAH!!!! FORD ESCAPE HYBRID!! HURRAY
When Kevin bought his little truck he debated between the ford ranger or the ford hybrid car. He calculated it out and to justify the cost gas would have to be $4 a gallon....that was 4 years ago!!!
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