"It's a nice positive, but the U.S. still has a big difference between its consumption and indigenous production," said Art Smith, chief executive of energy consultant John S. Herold. "We'll still be importing more than 50 percent of our oil needs."
So much for dreams of energy independence…. and I was hoping finally to get that Chevy Suburban so I could support U.S. auto manufacturers and put a big support the troops sticker as well as a Bush/Cheney2004 oval sticker in the bottom left of the rear window. That was before I made it to this statement.
"The successful test well does not mean a huge supply of cheap oil will hit the market anytime soon."
So why is it in the paper, if it doesn't mean anything other than an increase in share price for the developer?
The GOP is facing a touch campaign season. Most respondents to polling express dissatisfaction with the direction the country is heading, and stories like this make people less worried, even if there are no short term benefits. In Washington, the GOP candidates are walking a fine line between pretending to be something other than Republicans and embracing President Bush, or his top political architect, Karl Rove. In the past three months, the triumvirate of Cheney, Bush, and Ted Stevens have all stumped for local candidates, Dave Reichart, and Mike McGavick, who have done everything they can to convince voters that they would not be rubber stamps to unpopular policies.
In the end, when oil men are the most powerful in the land, you can expect good things to happen at the right times, but at no other times. I imagine the price at the pumps will continue to fall until some crisis will give the industry reason to increase them in early December or late November. I don't even want to imagine what will happen should the GOP lose one or both houses. At the very least, I could imagine the DOJ might spend billions sniffing out a sinister blow-job plot.
No comments:
Post a Comment