Thursday, April 20, 2006

Oil Prices Keep Rising

The cost of crude oil continues to rise, and filling up the old LaBaron at $2.89 a gallon today has the topic fresh on my mind. Much about the price of oil we have little control over. But, even in the areas we do (or should) have control, environmentalists are digging in their heels and trying everything that they can to keep the crude in the ground. Many of the loudest arguments of today are purely recycled hysterics of a few decades ago when oil was first discovered in Prudhoe Bay.

Townhall pointed me toward a report yesterday by R. Warren Anderson at the Free Market Project which examines many of the oft used 1970's arguments.

After the discovery of oil in Prudhoe Bay, Alaska, it didn’t take long for environmentalists to cry gloom and doom and for the media to hype those claims. From caribou dying to earthquakes to “all hell breaking loose,” there was no shortage of catastrophic predictions – though the Alaska pipeline now boasts great success roughly 30 years later.
An interesting read.

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