David Strom

Oil prices will only drop if oil supplies can increase, and oil supplies can increase only if oil companies are allowed to drill for oil and be handsomely compensated for extracting and selling it.

Congress should be opening up the continental shelf and the Arctic National Wildlife Refuge for oil extraction instead of raking oil company executives over the coals for not selling their product below world market price.

Consumers will benefit only if oil companies can extract, sell, and handsomely profit from the sale of oil that is currently under ground. No amount of complaining by Congressmen can change the laws of economics that makes that so.

David Strom

David Strom is the President of the Minnesota Free Market Institute. He hosts a weekly radio show on AM-1280 "The Patriot" in Minneapolis-St. Paul, available on podcast at Townhall.com.

Be the first to read David Strom's column. Sign up today and receive Townhall.com delivered each morning to your inbox.