Thursday, April 3, 2008

Politicians - Especially Democrats - Fail to Understand Oil and Oil Business

The media circus, where Congress brought Oil executives of big companies before them in a show of ignorance about business and the oil industry was pathetic.

All it has done is revealed their ignorance, and underscore why politicians are so bad at allocating financial resources.

Even though the oil industry has been unfairly singled out, as all American manufacturers get tax breaks, the idea that they need to spend more money on so-called "renewable" energy is ridiculous. That's politician speak for "if you don't know what to do, throw more money at it." The record of politicians wasting taxpayers dollars is legendary.

Jeff Eshelman, vice president of public affairs for the Independent Petroleum Association of America said, if Congress really wanted to decrease prices, they'd change the outrageous policies of restricting oil companies from drilling on U.S. land owned by the government. And he's right!

"If oil companies are given the ability to go into federal lands and produce crude oil, that would increase supply," Eshelman told UPI. "The more supply we have on the market, the more stable prices will be."

That's the first step in taking care of oil prices today, and the near future.

When you consider government interference in their feeble and dangerous attempt to promote the destructive ethanol additive, they need to take care of things like protecting U.S. citizens, and leave the oil market to business.

Democrats are especially ignorant in not knowing how to handle these things. Congress overall is attempting to find scapegoat to deflect the publics dissatisfaction with their performance, which is at all-time lows.

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