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Michael Der Manouel, Jr.

Economist Arnold: Increasing Oil Supply Won’t Help

Governor Arnold Schwarzenegger, taking a much needed rest from running California into a $15 billion dollar deficit, weighed in on the oil/gas price crisis by emphatically stating his opposition to offshore oil drilling.  The Governor, steadfastly refusing to believe that increased supplies of a commodity results in lower prices for that commodity, proclaimed his knowledge superior to that of 5,000 years recorded history, in which, in every instance, increased supply of a commodity has resulted in lower prices!

No wonder California is in such great shape!

Update:  11:05 pm – I just saw Arnold on TV explaining his position on drilling.  I want to report that he is even more incoherent on his position on this issue than on the State budget. 

5 Responses to “Economist Arnold: Increasing Oil Supply Won’t Help”

  1. ttanton@fastkat.com Says:

    WhAt is also interesting is the Governor’s inconsistent thought regarding technology. While he seems to refuse to accept the advances in technology for drilling which is available TODAY, he has a religious embrace for various renewable technologies that require mulitple miracles to advance–and MAY be economic in 10 or 20 years if ever.

  2. CliffUnruh@aol.com Says:

    I watched the movie, The Villian, the other evening. Arnold plays a character named “Handsome Stranger” (he was named after his father), a good looking, well meaning, imbecile who never quite fully understands things that are happening around him. Handsome Stranger never understands Anne-Margaret’s sexual advances. He helps an old lady (Ruth Buzzie) cross a busy street when she didn’t want to and races to stop a “runaway” horse drawn wagon which was actually the fire engine en route to extinguish the town’s burning cathouse. No doubt the role helped to prepare him for today’s role as governor. If you haven’t seen the movie, it is good for a laugh.

  3. elaning@msn.com Says:

    As long as he has enough gas for his Hummer. Sounds like a modern day “let them eat cake”. This was a quote by Marie Antonette during the time leading up to the French Revolution. The general population were starving in the streets. By the way Marie Antonette was Austrian. What a coincidence.

  4. marksheppard@verizon.net Says:

    Ironically, it is not historically certain that she said that, but we know what Arnold just said.

    What an elitist yutz!

  5. elaning@msn.com Says:

    It is a quote that accurately reflected the disconnect between the general population and the aristocracy of that time. Very similar to the elistists today who will not allow drilling, nuclear power plants, offshore gas terminals. This attitude is literally taking food out of peoples mouths. That is unforgivable.