McCain to push for offshore oil drilling, China cuts fuel subsidies, Saudi Arabia to host Opec meeting in Jeddah on the weekend (visions of Star Wars denizens' meeting at the desert bar) - whats this, a global conspiracy to talk down oil. No one knows what Opec production is, nor what their reserves are. Sure the Saudis will agree to raise output (just don't check us up on this), or will they, can they? Oil is scarce and getting more difficult to suck out of the ground; floods in the US cornbelt will drastically reduce ethanol (silly and desperate idea in the first place, burning food for fuel). High oil price, unfortunately, and most probably is here to stay.
McCain to push for offshore oil drilling, China cuts fuel...
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