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Blame Washington, Not Oil Companies

ibdeditorials.com — Congressional ignorance of basic laws of supply and demand is at once bizarre, breathtaking and frightening. ... A report released Thursday by the Department of the Interior notes that most of the oil and 40% of the natural gas under public lands in the U.S. is off-limits to drilling. That's about 19 billion barrels of oil...

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  • mvpel, on 05/23/2008, -1/+2A million barrels more per day from Saudi Arabia might lower oil $25, says Schumer, but a million barrels per day from ANWR is "the failed policy of yesterday," according to Pelosi. Bizarre, breathtaking, and frightening isn't the half of it.
  • MadKennyP, on 05/23/2008, -1/+1Drilling in the Arctic National Wildlife Refuge would lead to a drop in gas prices of about 2 cents per gallon. And we wouldn't see that oil or the drop for about 10 years.

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