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Opinari - Latin term for Opinion. Opinari.net is just what it seems: a cornucopia of rants, raves and poignant soliloquy.

Friday, April 22, 2005

I read this question in the comments on Michael Silence's blog:

"How can we realize an impact on oil prices from ANWR drilling when the product of that effort will not enter the supply stream for another ten years?"

In terms of real output, there will be no immediate impact. However, the market right now is poised for a bubble burst. Inventories have risen due to ramped up production, yet prices have risen too. Why? Institutional speculation. And such speculative practices would be mitigated by the promise of new sources of oil that are not tied to the OPEC cartel. I am no economist, but such authorities as Frederick Leuffer and Larry Kudlow have echoed these sentiments. It's high time policymakers listened.


.: posted by Dave 6:10 PM

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