OxBlog

Sunday, December 28, 2003

# Posted 11:15 PM by Ariel David Adesnik  

A COMMON MISCONCEPTION: As Matt Yglesias point out, we are not dependent on foreign oil. We are simply dependent on oil.

Since oil is a commodity, it doesn't matter where you get it from. There is a global market for the stuff, so even if we got all of ours from Mexico, events in the Middle East would still determine the price.

In theory, if we had enough oil here in the US to provide for domestic demand, the government could force producers to sell below market price. Of course, that is probably neither a good idea nor one George Bush has any interest in taking.

PS Kudos to Matt for the new photo on his homepage. I didn't think the whole unshaven Josh Marshall-esque thing worked for Matt anyway. I think the new progressive yuppie look is much better. Of course, the real test is whether Matt starts getting more play from his groupies. ;)
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Comments:
Great Article.. Completely agree with the flow. Thanks for sharing. I am sure other too would benefit from it. Cheers…!!!
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