The Fossil fuel Myth: Again or Still?

Oil prices are falling. Falling prices proves the conspiracy paranoids wrong again. Democrats and their radical secular progressive told us day in and day out in the liberal media, that the days of cheap oil were gone. In fact, left thinkers that manage trillions on Wall Street predicted $200 a barrel cost within a few month's time. They were wrong. And it has caused the demise of at least one if not two major hedge funds.

Today along comes the Washington Post staying the coarse of yelping that oil is more evil than even grubby money and wealth. The Post laments the decline in barrel cost to less than $60 by telling us in its editorial comment that using less oil will defuse world tensions. Tensions they say, are caused by lots of dough flowing to Venezuela, Iran, and even Saudi Arabia. Does the Washington Post really feel that keeping petro-nations poor will stabilize the world?

The argument is still over the myth that petroleum supply is decreasing. There's little question that the easy to produce petroleum, that just under the surface of the earth, is produced faster than it is replaced with new finds. But new finds are now announced with regularity because technology allows for drilling deeper in more inaccessible places. These technological advances might otherwise end the Carter style malaise of "The end is near," but it doesn't because politics skews science.

In reality today's Post comment starts the Euro-push for high taxes on fossil fuels to reduce their use. We all know that this strategy doesn't just reduce petroleum use, it also starves the world economy driving most developing countries back to poverty and guarantees to drop the United States into the slow European economic death spiral now under way. Seems to me that liberal thinkers actually have no solution to their straw man problem: Fossil fuel consumption.