The National Association of Manufacturers discusses Iain Murray's writings on oil exploration.
Iain Murray of the free-market advocacy group, Competitive Enterprise Institute, reviews 2008 and finds it awash with economic foolishness, energy idiocy and global warming folderol, and the Conservative Party in Britain didn’t do so well, either. With respect to energy, he observes:
For one brief, shining moment, it looked like even this Congress would be forced to relax idiotic restrictions on oil exploration, but “Drill, baby, drill” was retired as the oil price collapsed and so we will have to go through the whole thing again on the next oil price spike, when we will be told it is too late to explore and drill (again).
Maybe Iain’s right on this and history will repeat itself again and again and again. (You know, all those arguments from the ’80s and ’90s: Don’t drill in ANWR. That oil wouldn’t flow until 2004 at least. There’s no point!). But, envisioning that optimistic, allegorical infant of 2009 taking the stage, we still say, drill, Baby, drill.
Read the full article at the Shopfloor.