A Quick Note on New Domestic Oil Drilling

Posted by GlazednConfused on Aug 12th, 2008 and filed under Business, Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry from your site

This author recently popularized the phrase “Disaster Capitalism” – Wow, does any one phrase better sum up the current climate in the U.S.? Anyway, she talks in a recent interview about how we may increase all this drilling on American soil, yet what guarantees WE get the oil? This is an important point – these oil companies are global. They can sell to the highest bidder, no matter where they get the oil. Sure, we can charge them up the wazoo to drill, but it will have little to no effect on oil prices. Wherever the profits are higher, which is probably China at this point, they will send the oil.

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