POLLIWOG (Tadpole): the early stage of an animal that will eventually become a frog, hoping to be kissed by a princess, turning into a prince! POLIBLOG (Political Blog): the early stage of a center-right political blog that may eventually become a full blown blog of the center-right. Join in if you find any merit in the comments. If you are on the left and disagree, feel free to straighten me out! Who knows, with effort from all of us this blog may turn into a prince!

Location: San Diego, California, United States

Sunday, May 04, 2008

Understanding Oil

"Windfall Profits for Dummies" explains the irrationality and pandering of our Presidential candidates. It is critical for all of us to understand basic economics and recognize who will do the correct things to minimize the dislocations caused by higher oil prices - and, yes, there will be higher oil prices!

The key paragraph:

"This tiff over gas and oil taxes only highlights the intellectual policy confusion – or perhaps we should say cynicism – of our politicians. They want lower prices but don't want more production to increase supply. They want oil "independence" but they've declared off limits most of the big sources of domestic oil that could replace foreign imports. They want Americans to use less oil to reduce greenhouse gases but they protest higher oil prices that reduce demand. They want more oil company investment but they want to confiscate the profits from that investment. And these folks want to be President?"

Read the whole thing! Any comments on why the four points in the above paragraph do not make sense?



Post a Comment

<< Home