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!
3 thoughts on ““Drill Baby Drill” is “Dumb Baby Dumb””
I love the rhetoric about increasing domestic production or tapping the reserves to lower gas prices…when in fact our biggest export since 2010 is gasoline and aviation fuel…apparently we have enough or are selling enough at a high enough margin for big oil…we can export it.
There was even a pundit (with tongue in cheek) who recently suggested that the US has increased oil production to such an extent, we should join OPEC
What? Price has something to do with demand? You mean the President can’t change the demand for oil with a snap of his fingers? Or if they discovered vast reserves under Kansas, the oil companies wouldn’t want to sell it on the world market at world prices?
Like I said. Stoopid is as stoopid does…
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