Monday, September 22, 2008

The One Question Someone Needs to Ask John McCain

It is not quite hard to play "stump-the-candidate" as Sarah Palin called it, while being stumped. But McCain, and apparently all Republicans cannot grasp economics. I never want to hear the phrase free-market economy from the right ever again. Really, people who still believe in it should get a CAT scan and a full psychological evaluation. Without going further off into a tangent the question I want asked:

After we drill, drill, drill, and have barreled the between 20 to 60 billions barrels of oil... Then what? Let me clarify, let's say when all is said and done it cost ten dollars to produce one barrel of oil. Then it goes to the market. At which point China (being communist) could offer to buy it all for fifty dollars a barrel. Oil sell for what Wall Street says it will sell. If someone is willing to buy it for a hundred dollars that's what it's selling for. Saudi Arabia can produce a barrel of oil for something like three dollars. It still is selling high. Industries in the free market will attempt to manipulate said market to get the best bang for the buck. Usually with disastrous results - Mortgage crisis.

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