Good old George W. is at it again: today, he lifted the executive ban on offshore oil drilling, citing increasing gas prices as the reason. His rationale: Every dollar that is spent towards gas could be spent towards putting food on the table.
Sure, I suppose this is true, but I don’t particularly have any confidence in Big Oil companies that they will lower prices as supply increases…do you? They have a long history of greediness.
I thought these quotes were good:
From Senator Barbara Boxer:
President Bush is giving another gift to the oil companies that will do not one thing to lower gas prices for the American people. This proposal is something you’d expect from an oil company CEO, not the President of the United States.
Senator Dianne Feinstein said the President was “deluding the American public” into believing that new offshore drilling is a quick fix to $4 per gallon gasoline.
Nothing could be further from the truth. We cannot drill our way out of this problem.
I totally agree.
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