Wednesday, April 27, 2011

Your "Silver Bullet " is a Fountain Pen

Mark Tapscott shares a chart which shows how a "silver bullet" can work against oil prices.  What is it?  A fountain pen:

Notice what happened on July 14, 2008? Oil prices suddenly plummeted from their historic high of $145 a barrel. Why?Because that was the day President George W. Bush signed an executive order lifting the moratorium on off-shore drilling in the eastern half of the Gulf of Mexico and off the U.S. Atlantic and Pacific coasts. Overnight, the price per barrel of oil plunged, and that plunge was reflected at the pump soon thereafter. 
In other words, Obama could with the stroke of a pen sign an executive order telling his appointees at EPA, the Department of Interior and the Department of Energy to stop throwing up obstacles to increased U.S. oil and natural gas production and instead work with the energy industry on a crash program to "drill here, drill now."

Read the rest and see the chart here.


Charlene said...

Gosh, don't you just wish GW was president. SMILE

G. R. said...

Compared to what we have now? YEP!
I only thought I hated Clinton.