
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.… Read More