It's good news from Rancho Cucamonga tonight, folks, and you have to read between the lines a little to understand why:
The OPEC cartel is set to jack the price of oil because demand has fallen! Yep, that's right: in addition to a major economic crisis and two wars, the United States is about to see a major artificial hike in the price of oil.
This is going to happen for a lot of different reasons, most notably because Arabs want to build tall buildings and Russia is hurting really, really bad and doesn't want to see the price of their most precious commodity fall too far. And instead of just encouraging Iran to lob a missile into the Persian Gulf or down a Hungarian (!) passenger jet, they're just going to have it done by fiat.
The good news is that any artificial hike in the price of oil from our Arab friends should give a lot more momentum to the DRILL HERE, DRILL NOW, PAY LESS movement, which I wholeheartedly support, and so does Newt Gingrich.
Because let's face it folks, if we don't explore our own resources, we're always going to be at the mercy of people at meetings in Vienna, or from Amsterdam and to Paris, just as Bob Dylan once said.
From Slow Train Coming:
All that foreign oil controlling American soil,Look around you, it's just bound to make you embarrassed.Sheiks walkin' around like kings, wearing fancy jewels and nose rings,Deciding America's future from Amsterdam and to ParisAnd there's a slow, slow train comin' up around the bend.