As gas prices continue to edge up past $3.60 per gallon, President Obama went to Florida and made a scoffing speech about energy, in which he insisted that more oil was being produced during his administration and we should just shut up about the current price of gasoline.
Of course, the decisions that made the higher oil production levels today were made during the George W. Bush administration(!)
The president sneered about Newt Gingrich’s promise to reduce gas prices to $2.50 per gallon by opening drilling in the gulf, on Federal lands and in ANWR. “Drill… Drill… Drill…is all they can say”– I’m paraphrasing what the President said — but I say, “Duh, Duh Duh!”
What could be more obvious than the fact that increasing supply, or even threatening to drill where we aren’t currently allowed to, would bring down the price of crude immediately, as OPEC would panic? As it is OPEC has little reason to moderate the price of crude oil.
