Lesson in supply, demand

August 16, 2013 

Have you ever wondered why the price of oil on the world market is so high? Do you understand that this price being so high is the primary reason that fuel for your vehicle, fuel to heat your home, fuel to cook and the fuel to ship just about everything you buy has went up about $2 a gallon since Barack Obama became president?

Supply and demand account for most of that increase. According to the Bureau of Land Management under Bill Clinton during 1992-2000, approved drilling permits went up 59 percent. Under George W. Bush during 2000-2008, approved drilling permits were up to 116 percent but under Obama, approved drilling permits from 2008 to 2011 were down 36 percent. Supply and demand people.

Also Obama failed to act on drilling for oil in ANWR and has made no effort to approve the Keystone pipeline. Not only would these two projects have increased oil supply on the world market, driving down prices, but thousands of good jobs would have been created for Americans that would have helped our floundering economy.

It's way past time for Obama to stop race baiting, get off the campaign trail and stop going on vacation all the time and try real hard to get to the business of running this country.

Larry McClintick

Collinsville