Read time: 1 minute

McCain: My Offshore Drilling Gimmick Would Be Have Big "Psychological Impact"

John McCain admits that his energy policy consists of nothing other than mind games. "I don’t see an immediate relief,. But I do see that exploita

John McCain admits that his energy policy consists of nothing other than mind games.

"I don’t see an immediate relief,. But I do see that exploitation of existing reserves that may exist, and in the view of many experts that do exist off our coasts, is also a way that we need to provide relief. Even though it may take some years, the fact that we are exploiting those reserves would have a psychological impact that I think is beneficial."

McCain's argument is that speculators will magically drive the price of oil down when they learn that the federal government has opened up ANWR and other offshore drilling sites; in other words, treat the market like a crap shoot and hope things fix themselves. Here's an idea: Why don't we go after these irresponsible crooks and bring the price of oil down to it's legitimate supply and demand level? In fact, according to experts, these people are directly responsible for artificially inflating gas prices to the extent that it's costing Americans a half trillion dollars a year.

Salt Lake Tribune:

Gasoline should cost about $2.25 a gallon, and everything above that is ''funny money'' largely tacked on by and manipulation, testified Mark Cooper of the Consumer Federation of America.

''The speculative bubble in energy commodities has cost households about $1,500 over the past two years in increased costs for gasoline and natural gas,'' said Cooper, estimating that the total cost to the U.S. economy has been more than half a trillion dollars.

$500,000,000,000 and all John McCain has to offer is "psychological" relief.

Can you help us out?

For 16 years we have been exposing Washington lies and untangling media deceit. We work 7 days a week, 16 hours a day for our labor of love, but with rising hosting and associated costs, we need your help! Could you donate $21 for 2021? Please consider a one-time or recurring donation of whatever amount you can spare, or consider subscribing for an ad-free experience. It will be greatly appreciated and help us continue our mission of exposing the real FAKE NEWS!

More C&L Coverage

Discussion

New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.

Please Do Not Use the Login Link at the Top of the Site.

In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.

We will be retiring our Crooks and Liars user account system in January, 2021.

Thank you.
C&L Team