Friday, February 25, 2011

Oil Prices Surge on Middle East Unrest

If there ever was an argument for opening up our own shores and land for development of the oil resources waiting for us, this article should be on every democrats and President Obama desk. I’m sure Sarah Palin knows these numbers. I have touched on this subject before.  We have the ability to be self sufficient, not with just opening areas closed to drilling and exploration, but using our technology such as nuclear power and clean coal.  And yes, even a small portion of our power generation could come from the so-called green sources such as wind and solar (but only if the greenies get out of there own way).

Oil has risen above $100 a barrel for the second time in history and it is due to the jitters being felt in the market due to the violence in the Middle East. No oil is being shipped out of Libya, the recent unrest in Egypt has folks concerned about shipping through the Suez Canal, and the unsettled across the entire region is causing speculation to drive up the price of a barrel of oil.

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