Wednesday, February 23, 2011

Oil hits $100/barrel

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3 comments :

CMAR II said...

When are the states going to sue the Obama Administration for refusing to lift the drilling moratorium in defiance of a court ruling?

Iraqi Mojo said...

I thought the moratorium applied only to offshore drilling.

CMAR II said...

The EPA has other tools to lock up reserves on land and on the continental shelf.

Here's the deal: As long as anyone in the world is using a petroleum, gas, or coal product, I want to see that need being met with an American job.

Drilling (or anything else) won't drastically affect the price of oil long-term. But if oil is selling for $100 a barrel, I see no reason that only dictatorships should be recouping that money.

Those are lucrative blue collar jobs. Locking them away with an illegal moratorium or with irrational regulations is _cruel_. And if the children of our ruling class were in that industry rather than investment banking and real estate, there's no way these policies would continue.