iBankCoin
Joined Nov 11, 2007
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Obama seeks more drilling in Alaska and Gulf of Mexico

(Reuters) – President Barack Obama, under pressure from Republicans and the public to bring down gasoline prices, announced new measures on Saturday to expand domestic oil production in Alaska and the Gulf of Mexico.

High fuel prices have dented Obama’s ratings in opinion polls and threaten to dampen the economic recovery that is critical to his re-election in 2012.

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5 comments

  1. Marc David

    Is it really all about getting re-elected? I guess so.

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  2. Pete

    People are stupid.

    They think the earth has an everlasting supply of oil.

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    • Jakegint

      Simple economics tells us that the earth indeud has an “everlasting supply of oil.”

      A day will come when the last barrel is economically too dear to extract, and so it will be left in the earth with its dinosaur brethren.

      But your comment mimics that of Bryn the Bard’s criticism from back in 1267, in a letter to his father the Lord of Shrewsbury, regarding the clearcutting of Sherwood Forest in Northumberland…

      Tis treuly, sed, sirrah, yon smallfolk are faible en theyre brayns. They believeth that yonder woodlands they byrn for theyre cookfires arrah inexhaustible! Tis folly!

      ________

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  3. irishpitbull

    ATPG should rip on this news.

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