The oilman's president | Arkansas Blog

Monday, July 14, 2008

The oilman's president

Posted By on Mon, Jul 14, 2008 at 9:37 AM

He's failed at just about everything else, but Bush has fattened the bottom line of the oil bidness. He does more of their bidding by lifting the ban on offshore drilling. It's just a preliminary step, but good for demagoguery in the coming election. A friend of mine who represents oil companies -- and who supports offshore drilling -- notes that opening the drilling will have nil impact on oil supply for probably a decade, given the lead time to explore, lease and develop potential reserves.

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