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Wednesday, May 10, 2006

IS thinking obsolete?

Thomas Sowell has an excellent article on the hysteria surrounding the current high gas prices.

"If the profit per gallon of gas were reduced to zero, would that be enough to reduce the price by even a dime? If the oil company executives were to work free of charge, would that be enough to reduce the price of gasoline by even a penny a gallon?

Surely media loudmouths making millions of dollars a year and the multibillion dollar TV networks they work for can afford to get some statistics and buy a pocket calculator to do the arithmetic before spouting off nationwide.

But this is the age of emotion, not analysis."

WOW - I don't think truer words have been spoken in the media.

"The very politicians who have piled tax after tax on gasoline over the years, and voted to prohibit oil drilling offshore or in Alaska, and who have made it impossible to build a single oil refinery in decades, are all over the television screens denouncing the oil companies. In other words, those who supply oil are being denounced and demonized by those who have been blocking the supply of oil." (emphasis mine)

OK maybe truer words HAVE been spoken in the media! Please go read the whole thing! There is nothing more to add, other than we need to hold Congress responsible, not "big oil". Congress needs to get off of the dime and allow drilling in ANWR and off-shore exploration and more refineries!


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