Gas prices have come down dramatically in the last few months following a dramatic decrease in the price of crude oil.
Good for you and good for me.
But not so good for OPEC and the League of Enemies of America. So the cartel which controls 40% of the world's oil supply wants to make oil prices go back up by cutting back production.
Though there is a general agreement on the need for reducing production, there is no agreement on the quantum.
Such talks have already had their effect. Crude rebounded for a second day on Monday, rising by $2.43 a barrel to $74.28 till the report was filed. With several investment banks paring 2009 demand projections and estimating a bottom price at $60/barrel — or lower if economic conditions deteriorate — a production cut of at least a million barrels a day is certain.
If the price of oil goes up, it benefits Iran, Venezuela, and Russia but not us.
In order to mitigate the influence of OPEC, we in the US need to drill everywhere we can and do it now.
You know, the fact that Obama does not want to drill everywhere now is not the only problem. If we elect McCain who does want to drill more, a Democratic-controlled Congress will block any efforts.
You know, you really need to look at the guy or gal you are sending to Congress. If they are an incumbent, and they are against or waffling about doing EVERYTHING possible to move us towards energy independence, including drilling, nukes, and renewable, vote against them.
Just do it.
