DougM

Recession? I've Got a Solution

Well, then why not expand domestic oil production by allowing states to open up costal areas and ANWR to drilling? Because of inelasticity in both supply and demand, a small increase in domestic supply could bring the market price down by a large percentage and have the effect of lowering our imports as measured in dollars. OPEC leaders must be laughing their arses off when we ask them to increase production but won't produce our own reserves.