Tuesday, December 16, 2008

More Good News From the Pump

This story by Dick Morris is a must read.

I'll admit it's not a subject I'm terribly knowledgeable about, but if he's on the money about this it's good news. What he lays out is how the slumping oil prices are creating hardship for all the right dictators (namely Chavez, Ahmadinejad, Morales, and the general Russian machine).

He points out that many of these leaders are not so popular in the first place and could easily fall out of favor with their electorates if the goodies they pass out (paid for by plump oil revenues) were to dwindle. He suggests that oil prices will stay low as these dictators increase production to maintain their spending status-quos.

In my mind this is all the more reason for our leaders to ditch the whole "green recovery" nonsense and charge full steam ahead towards squeezing out every last drop of oil that we can. All we have to gain is a lower cost of living for our citizens and a crippling of our worst enemies - a no brainer?

UPDATE: Via Conservative Grapevine comes another more detailed analysis of the situation as it pertains to the Middle East. This one's no more rosier for the dictators, but it's also suggests future problems for the West in dealing with the military adventures such economic strife could give rise to.

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