This was started by Jessi Olson of Wake Up America back when most of the country was off-limits to oil exploration. I’ve sort of fallen off the wagon once the off-shore ban expired, and really fell off after the election.
Price of regular unleaded in south-suburban Milwaukee – $1.899
There is actually some hopeful news today, which is why I brought this thing in from the dustbin. The Salt Lake Tribune reports that the Interior Department has finalized the rules for opening up the Mountain West’s oil shale reserves. Royalties will start at 5%, then increase by 1 point a year after the 5th year of commercial exploitation to the standard 12.5%. Also, 49% of those royalties will be shared with the state in which a particular mine is.
Naturally, the no-drill crowd is all up in arms, but at least they have to actively reverse course now to get oil back up their dream of $140+/bbl and gas to their $4-$10/gallon dream.
