Wednesday, September 24, 2008

Drill Baby Drill? In Brazil Anyway

Don't look now but the lame duck in the White House may be chalking up an incremental victory in the battle to open up America's coastline to drilling next Tuesday. Democrats in Congress are surrendering on the issue. This does NOT mean drilling begins tomorrow, but it does mean one huge impediment is removed. Of course, an Obama/ Reid/ Pelosi Washington DC would try to reverse the progress.

Meanwhile, in Brazil, they are amped up today because there has been an enormous new offshore find. 110 Billion barrels-- more in this one find than all of Venezuela's proven reserves. The US is rare indeed. Our elected officials refuse to use our own abundant resources to the fullest. How many times in history has a thriving republic refused to exploit her resource advantages? It seems quite bizarre. Clearly Brazil isn't in the grip of petrophobia.