thinkprogress.org — Gingrich touted the work of an intern at the right-wing American Enterprise Institute, who he claimed “understands more more about economics than most of the politicians in this country.” His proof? The intern found a paper arguing that “the price of oil will drop almost immediately” if the U.S. expands domestic drilling.
Aug 6, 2008 View in Crawl 4
d2drake_Aug 7, 2008
Don't feel bad, a lot of people have the same misunderstanding that you have on this issue. Untapped oil quantities are always estimated taking into consideration the current economic and technology situation. With today's technology some oil is there but won't pay for itself to get. As technologies improve and/or prices go up, that oil then becomes part of the estimate. Also, all of the oil deposit have yet been discovered. And lastly, nature did just quit making oil at a certain time - the process hasn't stopped.
kigcoopa84Aug 7, 2008
Oil companies permitted to do exploritory drilling, not production drilling. Sorry if Nancy Pelosi failed to mention that.And the deregulation of energy has nothing to do with the goverment taxing oil exports more heavily.
kigcoopa84Aug 7, 2008
don't worry I don't expect a reply. "Once again they're using their influence over the right and the corporate media to strip the American people of our natural resources to enrich themselves " 1. They are only natural resources if we use them as resources.2. Shows how crazy and radical you are = complete loss of all credibility.
cuchanuAug 7, 2008
Calm down Newt! I don't think that having a car that runs on piss and s**t makes you morally superior. Of course we will need oil. But this isn't about us, it's about Big Oil having more oil to sell. All of the experts who say we'll have oil and cheap gas in as little as a year (ahem FOX) are employed by the oil companies, and they are the ones driving the call for drilling. If we had pulled our head out of the sand years ago and stopped listening to the oil people we could have avoided this mess. We would probably be flying to work in our piss and s**t fueled cars.
Closed AccountAug 9, 2008
Here's a question: if there was a headline saying that Iran had closed the Straits of Hormuz, where most oil goes through, would the price of oil immediately go up? Of course.So if there's news that the USA has decided to take of the handcuffs and, as fast as possible, start drilling for oil in our own backyard, would the price immediately start down? OF COURSE !!Solar doesn't work. Wind doesn't work. If we don't start drilling we're going to be broke and cold sitting in the dark. While China and India laugh.