In Praise of the Oil Companies

The oil companies are demonized. They are seen as exploiters of the people who get rich off of high oil prices while the people become poorer.  The Democrats can't wait to get their hands on the windfall profits of the oil companies. The truth is that oil companies tend to spend their profits drilling for more oil so that they will make more profit. When they discover oil and produce more of it the price of oil goes down. The price of almost everything depends on the price of oil.  When the price of oil goes up people in poor countries can't afford enough food anymore.

The Democrats oppose drilling for oil.  When it was clear that Barack Obama was in danger of losing to McCain the Democratic congress agreed to drilling over 50 miles off shore.  The majority of oil is within 50 miles of the shore.  The resolution required that the windfall profits go to solar. 

     Itís shocking that 3 Democrats went to Iraq and interfered with the oil companies developing Iraqi oil fields. As a result the Chinese got the job.  The Democrats are preventing the economy from recovering and then blaming it on Bush.

 

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