Oil Execs Fear Market Solution to Oil Crisis

Now that Shrub has taken the walk of shame after his Arabian night, oil executives are back in Washington, calling on Americans to “send a signal to the world about the United States’ resolve to deal with its own energy problems.” Their visionary plan calls for smaller cars, more public transportation, substantial tax credits for hybrids—

Oops. Got that mixed up with the Tralfamador news feed.

No, what they want is to suck Alaska dry, or what’s left of Alaska after global warming takes care of the rest. A few more million barrels a day should do it:

“If the nation set a goal of increasing domestic production by 2 (million) to 3 million barrels a day by opening up new sources of exploration and production, we could demonstrate to the world that we are in control of our own destiny,” Shell Oil Co. President John Hofmeister told a Senate panel today.

The problem, of course, is that Americans are already taking matters into their own hands: Because of high prices, oil imports are expected to fall for the first time since 1977.

Oil execs ask Congress to allow more U.S. drilling [Houston Chronicle]