“This is because the solution to the energy crisis is so blindingly obvious. The solution is: allow the oil companies to drill for oil—in Alaska, in the Gulf of Mexico, off the coast of California, on all the land mass of the United States now set aside as “wild-life preserves” and “wilderness” areas. Allow the construction of new atomic power plants! Stop interfering with the strip mining of coal! Stop interfering with the construction of refineries, pipelines, and harbor facilities necessary to the supply of oil and natural gas! This will increase the supply and reduce the demand for oil (this last because substitutes for it will be more readily available). All this can be summed up in very few words: Politicians and environmentalists, get the hell out of the way!”–George Reisman, author of Capitalism: A Treatise on Economics and Pepperdine University Professor Emeritus of Economics
I don’t understand how drilling for oil in Alaska will reduce demand. What substitute for oil will be available by increasing the supply of oil.
I feel that increased drilling should be enacted. I aslo feel that any part of that legislation should include stricter fuel efficiency standards for automobile makers. Increased incentive for lower demand increased credits for consumers for buying more fuel efficient cars.