Cole on Drilling
From the campaign of Christopher Cole, Libertarian nominee for US
Senate
704-605-5905
Elizabth Dole recently changed her position on offshore drilling. In response Democrat Kay Hagan complains that production from new fields offshore or in ANWR won’t come in to the market for approximately ten years. Dole was right in changing her position, and Hagan is right about the time lag for new gasoline at the pump.
But where Hagan is wrong and Dole is silent is about the impact of such a policy change on CURRENT prices at the gas pump. Only Libertarian Christopher Cole explains how that FUTURE production can lower CURRENT prices, prices which are dragging down our economy and
strangling the family budget.
What Hagan ignores is the role of expected FUTURE supply on current price. Due to OPEC intransigence and possible interruptions due to Bush policy against Iran, speculators fear interruptions to oil supply for years to come. They have therefore bid up prices on present shipments, in order to assure their future inventory. With
that future supply assured by increased access at home, that price pressure will be removed, resulting in immediate easing of pump prices.
Cole supports open access to offshore oil and natural gas deposits, as well as those under federal lands, such as the Alaska National Wildlife Reserve. Not only would that assure future oil supply, but it will provide economic growth and high-wage jobs in such regions as North Carolina’s coastal plain. Cole also disputes the alarmist
response of some on the left who complain of ecological risks, pointing out that major spills, such as the Exxon Valdez in Alaska, have always come from tankers, not rigs or modern land-based pumps.
For further information, Cole recommends this article from the Ludwig von Mises Institute, a free-market economics think tank, based at Auburn University:
http://mises.org/story/3047
–
Christopher Cole
Libertarian nominee, US Senate
Huntersville, NC
For information on Libertarian candidates from around the country, check here.
Popularity: 15% [?]
Possibly similar posts - The Foreclosure “Crisis” - Democratic Senatorial Campaign Committee - House Democrats Raise Gas Prices - Democrats Vote to Raise Gas Prices - Senate Democrats Demand Higher Gas Prices
Ten years, ten years. Every democrat in the country has been struck stupid by something. If they never start they will never get there. The 10 year statements are starting to grate on my nerves like fingernails on a blackboard and sometime I get right near a killing mood. I look for the temporary insanity murder rate to hit a high level never seen at anytime.
“…I will stand with them (Muslims) should the political winds shift in an ugly direction.” B Hussein Obama,
page 261 of his book, Audacity of Hope…
Obama is a BIG supporter of Muslims. HUGE. He loves them. Seriously. He even supporters Muslim government in Africa TODAY that are slaughtering Christians because they’re Christian.