Natural Born Drillers

Economist's View by Paul Krugman | Mar. 16, 2012 (Opinion)
Why are Republicans turning to "Drill, baby, Drill"?

Unlike natural gas, which is expensive to ship across oceans, oil is traded on a world market... Oil prices are up because of rising demand from China and other emerging economies, and more recently because of war scares in the Middle East; these forces easily outweigh any downward pressure on prices from rising U.S. production. And the same thing would happen if Republicans got their way... Full Story »

Posted by Tanya J. Maurer

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Subjects: Politics, Business, Sci/Tech
Topics: Republicans, Money and Politics, Oil and Gas
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# Tweets: 3 (as of 2012-03-16)
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Posted by: Posted by Tanya J. Maurer - Mar 16, 2012 - 12:51 PM PDT
Reviewed by: Tanya J. Maurer (review), Randy Morrow (review), Sirajul Islam (review)
Content Type: Article
Edit Lock: This story can be edited
Edited by: Tanya J. Maurer - Mar 16, 2012 - 12:55 PM PDT

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Sirajul Islam
3.9
 by Sirajul Islam - Mar. 18, 2012

The professor has articulated well his interpretations of the situation, and it's an opinion piece. My opinion is: once oil demand gets within range of oil production, the speculators can cover the gaps and gouge the market. Increasing production doesn't help if it can't expand the gap quickly enough to deter the speculators. Conservation and demand reduction maybe the best possible way to keep the price down.

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Tanya J. Maurer
4.7
 by Tanya J. Maurer - Mar. 16, 2012

The repugnantcons have been spreading the big lie about more drilling, and the minstream news and readers have been buying it. This pointed insight helps set out the facts.

Tanya posted this story.
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Randy Morrow
4.4
 by Randy Morrow - Mar. 16, 2012

Strange to say, however, while natural gas prices have dropped, rising oil production and a sharp fall in import dependence haven’t stopped gasoline prices from rising ... More »

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