Monday, August 4, 2008

Murphy On Obama's Shift In Favor of Some Offshore Drilling

I emailed Bob Murphy, economist with the Institute for Energy Research, for his take on Obama's latest stance on offshore drilling. He wrote back:

It's great that Senator Obama has reversed his earlier opposition to offshore drilling, and now recognizes that proper tire inflation is not enough. However, one suspects that his reversal is simply a political move, given the public's support for such drilling. Who's to say what new information will change his mind back again if elected?

Of course, Murphy is referring to Obama's stance just days ago that proper tire inflation would result in oil savings equal to that of oil production from offshore drilling.

Murphy writes that IER will soon have a response in the works to Obama's announcement of *last* Friday, when he called for $1000 rebate checks to families, paid for by windfall profits tax on big oil.

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