Well, it is a Republican idea so is anyone really surprised that “Drill Baby Drill” is “Dumb Baby Dumb?” I know I’m not.
On the campaign trail, Newt Gingrich keeps insisting that if America drilled for more oil, we could return to the days of $2.50-per-gallon gasoline. Michael Conathan says this is dubious, noting that drilling has been booming since 2009, yet gas prices keep rising:
Why is this? Because oil prices are set on a world market, and there are a whole bunch of factors that affect prices. A healthier global economy means more global demand for oil. That pushes prices up. A new wave of middle-class consumers in China and India have been replacing their bikes with automobiles. That pushes prices up.
I just love it when Conservatives act all stupid and pretend they don’t understand how markets work. Morons… Of course Democrat and Progressives have been advocating a reducing in dependency on oil (not just foreign oil!)
By and large, though, the country’s main option is the hard, boring option — the United States could try to become less dependent on oil, so that rising prices aren’t quite as difficult to cope with.
But we couldn’t possibly do that!