Wednesday, June 18, 2008

Stop Digging

As I'm sure you know, there's an old saying that if you're in a deep hole, stop digging. Well John McCain thinks we need to keep on diggin'.

Set aside the facts of global warming due to petroleum burning, and set aside the fact that new oil drilling takes years to have any impact on prices, let's take a look at the impact of bringing our largest proposed oil field on stream:

See that itsy bitsy bump in supply at the bottom that occurs in about ten years? That's the impact of drilling in the Artic. Meanwhile, in terms of demand, the hole just gets deeper and deeper unless we do something to realign our economy away from petroleum.

No comments: