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Letters June 26, 2008  RSS feed

It's time to drill oil in the U.S.

Several days ago, when asked whether the high oil prices would help us, U.S. Sen. Barack Obama replied that he "would have preferred a gradual adjustment." In other words, high oil prices will force us to conserve, and the higher the prices, the better.

There are a multitude of reasons being offered to explain the high oil prices. The truth is that it's just a supply-and-demand situation. Increasing the demand and/or decreasing the supply will raise oil prices and vice versa.

The current energy policies are set by radical environmentalists. They forbid us to go where the oil is. The same applies to natural gas, coal, nuclear and hydroelectric.

This limits the supply, raising the prices and causing us to conserve. They don't want to let normal market forces take effect, therefore the prohibition. And with the next crisis, prices will go much higher. For the same reasons, be ready for similar action in the prices of electricity and water in the years to come.

The cry for energy independence sounds hollow since every barrel of oil produced domestically is a barrel we don't have to import from the Middle East. Even a caveman can do the math.

We have the ability to increase oil supplies by utilizing our reserves here in California, in Florida, Alaska and elsewhere. The oil can be extracted in an environmentally safe manner with 21st century technology.

It would also give California billions of dollars in royalties, which our state government badly needs, and boost our economy. Cooked into the supply/demand cake is the knowledge that America is setting its large oil deposits off-limits. Only a policy of aggressively going after this oil will send the markets a clear sign and will drop the price of oil substantially. Now. Diego Cruz Thousand Oaks