We might be headed for $4 gas again - Hurricane Ike, although weaker than expected, has substantially lessened refining capacity in the Gulf region, causing gas prices to spike back up to about $3.80/gallon. This comes on the heels of Gustav, which first cleared the workers out of oil rigs. These latest storms really emphasize [...]
Continue reading...Wednesday, July 23, 2008
McCain has said that Bush’s removal of a ban on offshore drilling was largely the cause for a recent drop in oil prices that has lowered gas prices by 5 - 10 cents per gallon in many areas of the country so far. Bush recently lifted the executive order banning offshore drilling that his father put [...]
Continue reading...Wednesday, July 23, 2008
Ok people, let’s make this simple . Really simple. Oil is a commodity. Commodities become more expensive when demand exceeds supply. Demand for oil has exceeded supply. Oil has become expensive. Oil comes from the ground, where it is drilled and pumped out. So, we need to…uhhh…spin the dredel? Boil corn? NO! There ya go! We need MORE OIL, people! [...]
Continue reading...Monday, July 21, 2008
The latest TV commercial for John McCain places drilling front-and-center as a solution for our current gas price problems, and points to Obama as a significant factor in holding back additional oil exploration. Although it doesn’t much elaborate on the specifics of how or why, the commercial does bring home a single issue that the [...]
Continue reading...Friday, July 11, 2008
Lately we’ve been hearing a lot of talk about how bad high oil prices are for the economy, and how we’ll all be lining up at the soup kitchen if we don’t "drill now". Obviously capitalism is quite capable of adapting out of a heavy dependence on petroleum, but people are characteristically afraid of new [...]
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Monday, September 15, 2008
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