Setting the Record Straight on Energy

Posted: Jul 07, 2008 10:50 AM
I wish I saw this before the 4th of July recess, but Investors Business Daily had a great editorial entitled, Energy Myths.

They take 4 popular talking points that the Democrat Congressional leadership have been using against domestic drilling and exploration and give you the truth about America's energy reserves and their impact on prices and supply.  It's a must read.

Here are the myths they dispel:

"We can't drill our way out of our energy crisis."
"Actually, we can"

"Oil companies are sitting on 68 million acres of oil leases and refuse to drill."
"It's completely dishonest"

"Even if drilling works, it'll take a decade or more for the oil to flow."
"It worked before, and it'll work again."

"Record profits by big oil companies are the reason for soaring prices."
"As a share of revenue, profits aren't so high."