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Tuesday, July 15, 2008

Blaming Big Oil is not the answer

By W.F. Walker Johanson

"So what's going on with the world's oil prices?

It's simply that demand for oil is exceeding the currently available supply. And why is that? It's not because demand is too great. It's because the available supply is too small. And that's because Democrats in Congress have prohibited U.S. oil companies from getting the oil we already own from out of the ground!"

1 comment:

Anonymous said...

Elephant Herd is right in pointing out in the commentary titled -"Blaming Big Oil is not the answer" - that W. F. Walker Johanson's statements are on target.

In addition it could legitimately be pointed out that United States does not even have "big oil" companies.

To illustrate: In U.S. House and Senate committee hearings only days ago testimoney showed that Exxon Mobil - the largest American oil company - is only the 14th largest in the world and that Exxon Mobil is DWARFED by the really big oil companies - all owned by foreign governments or government-sponsored monopolies that dominate the world's oil supply.

That perspective is important when we talk about oil supplies so vital to the American economy.