Scott R. Sullivan

July 9th, 2008 by Scott

There’s a light at the end of the tunnel and it’s not the headlight on the train. It’s actually something I was not expecting to happen at all.

The Democrats are starting to see the light. First some back story. Oil prices have been driven up by several reasons.

First are the speculators. They buy and sell on what they THINK the price of oil will be 25 years from now. This has been pushing the price up.

Second is increased demand from the growing China and India. Increase demand, price goes up. Economics 101.

Third are the laws pushed on us by the environmentalists that restrict our own oil companies from drilling off our own coasts. We have more oil in America and off our coast than Saudi Arabia and many other oil producing companies.

Well, the Republicans have been pushing hard to have that restriction lifted to allow a boost in production. Increase supply, you lower the price. Economics 101.

Finally, the Democrats are starting to realize the error of their ways and are beginning to open their minds to the idea of lifting the restrictions they created to allow drilling.

NEW YORK (Reuters) - A top U.S. Democratic senator said in a newspaper interview published Wednesday that he would consider supporting opening up new areas for offshore oil and gas drilling.

“I’m open to drilling and responsible production,” Senate Majority Whip Richard Durbin told The Wall Street Journal, adding that Senate Majority Leader Harry Reid could also support the move. (Source)

I’m glad to see the Dems finally seeing what the Republicans have been saying for years.