Aug

20

A little debate brewing in the ethos-sphere about drilling in Anwar (the artic national wildlife refuge). Now I wonder who could be behind that? Someone who stands to profit from the involuntary transfer of assets from the people of the United States to them.

One of the arguments in favor of drilling in Anwar is that it will help suppress to cost of oil domestically. But consider we not only went through the Deepwater Horizon spill, bu a moratorium on drilling in the Gulf of Mexico. That drilling WAS purportedly being done to suppress the cost of oil domestically.

If that was a valid argument, I would have expected prices at the pump or on the futures exchanges to have risen and risen noticeably. But the contrary happened. So why should drilling in Anwar be any different?

I propose that exhange rate manipulation (an entirely legal and sino-time-tested tactic) would have far greater influence on oil prices."A matter of national security?" Really? That presupposes that the oil producing countries can shut off the taps or store the stuff, when in fact, they burn through that revenue daily just to maintian themselves. They HAVE to sell it and they don;t care who the buyers are. It is a far different world and market structure than it was 40 years ago. Additionally, we don't make cellphones in America, but rather, most in suicide-inducing Sinosweatshops. No one seems too concerned about national security on the myriad of other products we now import.

Drilling or not in Anwar will have essentially zero-effect on oil prices, just as drilling in the gulf showed us. These are fake arguments with a private agenda behind them and have no effect on markets.


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