The Road Not Taken or Drill Baby Drill!
Thank goodness sanity won out last November.
While we are all focused on what is going on the Presidential election is anyone still listening to what President Bush has to say? Dean Baker over at The American Prospect asks a very very important question – Is it News When the President tells Untrue Statements (i.e. lies)?
Despite the promises from Saudi Arabia, that increase in production will have no real effect on the fundamental supply of oil available to market. This week has seen attacks on the oil production infrastructure in Nigeria that has cost the African nation its position as the top oil producer in Africa. It is now #2, after Angola.
A bipartisan group of seven coastal governors are reiterating concerns about offshore drilling as Congress actively considers proposals that would revoke a 27-year moratorium on the practice.
When it comes to the future of the airline industry, the question is not whether there will be a downturn, but how bad the downturn it will be.