McCain’s Issues With Oil
Source:Posted on Friday, June 20th, 2008 | In Current Market News, Energy Markets, Politics & Your Money
It seems that almost every day there is an editorial urging John McCain to relieve the American people of their high gas price burden. But rather than an endorsement of his gas tax vacation, the average conservative citizen is urging McCain to drill for domestic oil. If he indeed decided to drill for more oil on American soil, he would be embraced by the right.
But how much good would it do? The Wall Street Journall’s Real Time Economics has an article indicating that even if we were to drill in the massive ANWR reserves, it would not be likely to impact gas prices now.
Furthermore, 2008 Central has a humorous bit of an exploitation article on the same issue. In 1985, McCain insisted (very strongly) that offshore oil in states like California should be distributed to Americans on a national level. Now he claims that he wants to do the exact opposite. On top of that, the most optimistic projections for offshore drilling is that it will lower gas prices by eight cents a decade from now.
In the past, McCain has supported initiatives for research into alternative fuels and seems to have a fair grasp on our energy crisis worldwide. In order to maintain that image, he needs to get his act together regarding gasoline.
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Alternative Fuels, american soil, Current Market News, Domestic Oil, energy crisis, Energy Markets, gas price, Gas Prices, Gasoline, john mccain, Offshore Drilling, offshore oil, optimistic projections, Politics & Your Money, wall street journall
 About Jeffrey Miller (http://www.oldprof.typepad.com)
Jeffrey A. Miller, Ph.D. is a former college professor with a hands-on, real world attitude. His quantitative modeling helped inform state and local officials in Wisconsin for more than a decade. A Public Policy analyst, he taught advanced research methods at the University of Wisconsin, and analyzed many issues related to state tax policy. In 1987 Jeff began work for market makers at the Chicago Board Options Exchange. His approach included finding anomalies in the standard option pricing models and developing new forecasting techniques. Merging these quantitative techniques with specific company analysis, Jeff also generated trading ideas from sell-side analyst reports. Through his years of experience in trading options, futures and equities, Jeff has come to be regarded as an expert in interpreting the effect of news on the markets and individual stocks. Jeff has served as a forensic expert in several cases involving such issues. He has also written a series of papers on investment management, describing both quantitative methods and those related to behavioral economics. |
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