Politics of oil: 'Let's face it'

[papapi]

Bush's Plan
Let's face it.
No more lies, Mr. pResident.
You fucked up and now you
don't know how to fix it.

by Mark Silva
Just a few months ago, President George W. Bush said he "hadn't heard" that gas might reach $4 per gallon...

Anthony Cordesman, an expert on energy and security at the Center for Strategic and International Studies, a Washington think tank, said estimates of the potential oil reserves in the Outer Continental Shelf may be exaggerated, and it will be years before anyone knows the real amount of oil in that area.

Meanwhile, he said, world demand for oil and limited supply will only add to pressure on prices.

"Let's face it, this is politics," Cordesman said. "If there is going to be a real world change in U.S. energy policy, it is going to come with a new Congress and a new administration."...

McCain has taken a step that, before this year of soaring gas prices, would have been considered unthinkable: supporting offshore drilling as a remedy.

more...Bush's Plan

[uponit7771]

1. I work for a financial institute, it's the "Enron Loophole" and weak dollar due to low interest ...

...rates and over borrowing (think Iraq) that have giving us high oil prices.