Sunday, May 15, 2011

Price Of The Pump

Why bother with drilling leases if it won't help lower the price of gasoline?
"There is practically nothing that Washington can do that would materially change the price of fuel in this country," said Raymond James analyst Pavel Molchanov, noting that the United States produces about 5 percent of the world's petroleum while consuming about 20 percent. "Given that imbalance, there is simply no policy shift that could plausibly come from the federal government that can significantly change that dynamic."
It's good that Obama wants to put an end to oil company subsidies; perhaps they can use those revenues to give the public tax incentives to buy hybrid cars.  

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