ANOTHER HILLARY PROMISE, BUT IS SHE REALLY THAT STUPID?

She either talks like this because she’s pitifully and dangerously stupid, for a presidential candidate; or she knows too well the ignorance of her adoring fans!

Read this article from the Daily News and you decide:

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ELECT ME AND OIL PRICES INSTANTLY DROP, SAYS HILLARY CLINTON IN IOWA

BY MICHAEL McAULIFF
DAILY NEWS WASHINGTON BUREAU

Sunday, December 23rd 2007, 4:00 AM

MANCHESTER, N.H. - Hillary Clinton predicted Saturday that just electing her President will cut the price of oil.

When the world hears her commitment at her inauguration about ending American dependence on foreign fuel, Clinton says, oil-pumping countries will lower prices to stifle America's incentive to develop alternative energy.

"I predict to you, the oil-producing countries will drop the price of oil," Clinton said, speaking at the Manchester YWCA. "They will once again assume, once the cost pressure is off, Americans and our political process will recede."

Clinton argued that former President Jimmy Carter in the late 1970s actually started moving in the right direction toward energy independence, but his successor, Ronald Reagan, "dismantled" that work.

"Because costs were low, people didn't care, didn't complain," she said.

She warned that folks shouldn't be grateful now if oil countries cut prices from near $100 a barrel to $60 or $70, and compared it to trying to boil a frog.

"You put him in hot water, it jumps right out, you put him in cold water and turn up the heat - he's a goner," she said. "We've got to figure out how were going to not be the frog in the cold water anymore."

mmcauliff@nydailynews.com

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She will say anything to anybody and promise everything to everybody! But wait! Isn’t the price of oil set by the world’s commodity exchanges from Tokyo to Chicago? Yes, it is.

Hillary says “oil-producing countries will drop the price of oil.” Huh?
The Organization of Petroleum Exporting Countries (OPEC), which I think she is referring to, actually regulates the production of oil, not the price. If “oil-producing countries” simply moved the price of a barrel of oil up and down, then I suspect the United States, an oil-producing country, would have weighed in by now and lowered the price of oil.

OPEC regulates the production of oil because – Get this you anti-capitalists – supply and demand determine the price of oil! More oil production, lower prices. Less oil production, higher prices.

Since that is the way it works outside of Washington (as in the real world), I’ve got a great idea for increasing oil production. DRILL FOR OIL! Drill for oil in the United States of America!

We’ve got vast oil reserves in Alaska and off our shores where rigs don’t have to stick out of people’s back yards. China is here drilling for oil off our shores, presumably because they understand capitalism better than the buffoons in Washington who don’t want to upset the sensibilities of non-thinking people in their hometowns.

The world’s oil production currently stands at a capacity to produce 85 million barrels of oil per day. That’s it. To increase production by 1 million barrels per day, 1,000 wells would have to increase output by 1,000 barrels a day. That isn’t likely to happen, there’s no incentive. We will continue paying higher and higher prices until we reach a breaking point, at which, well….we’re screwed!

How do you increase production? Drill new wells. Expand oil production in the good ole U.S. of A.
ANWR anyone???

JD.