Wednesday, February 23, 2011

Oil hits $100/barrel

Visit for breaking news, world news, and news about the economy


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.