Presumptive Democratic presidential nominee Barack Obama made a major gaffe when he said checking tire pressure and tuning engines would save as much oil as new drilling would create.
He missed the whole point of the argument, showing his economic illiteracy and leftist slant that will not allow him to understand the supply-and-demand dynamics of the free enterprise system.
As Presidenti Bush showed by lifting the presidential ban on offshore oil drilling, it scared the Arab shieks and petty despots who control the international oil market to the point that they shaved some $27 a barrel off oil prices. That's merely the threat of increasing domestic supply--not a single drop of actual oil had been created.
A similar congressional action on their ban on offshore drilling, would undoubtedly drop oil prices even more. The point is, the discussion is about actions that immediately drop oil prices, not necessarily actual drilling.
These are subtle nuances of international economics we're talking about here, not actual barrels of oil. That Obama is unable, or unwilling, to grasp such complexities does not bode well for his understanding of world affairs.
You have the McCain people out handing out tire pressure gauges as a symbol of Obama's energy policy. Combined with the Paris Hilton-Britney Spears commercial making fun of Obama's rock star celebrity image, this shows a shaky beginning for the Obama campaign juggernaut.
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