Economic Stupidity

Well, Obama has shown his true colors. He is in favor of a windfall profits tax. Last time it was done, under the Carter administration, it caused an increase in the price of oil and oil products, a decrease in domestic production, and an increase in dependence on foreign oil. The worst possible economic situation. So why is he in favor of doing something that is just plain stupid economics? Because he is owned and operated by the far left socialist wing of the Democratic party. Only they would support something that stupid. And they support it because it is anti-capitalist and all they care about is tearing down capitalism.
Harry Reid, Nancy Pelosi and the rest of the Democrat members of the House and Senate believe the same. They talk about nonsense like wind power and solar power because that is what the extreme left of the Democrat party wants to hear. It doesn't matter that it is economic nonsense. They echo what their supporters want to hear.
They say that drilling won't help because we can't pump enough new oil to make a difference. They are wrong again. The world uses about 86,000,000 barrels of oil a day. It consumes about 86,000,000 barrels of oil a day. By increasing our production, we increase the supply and that decreases the price because there is more supply than demand. That is a law of economics. It is called simply supply and demand.
Liberals, Socialists, Communists don't believe in the law of supply and demand. The proof is simply that they refuse to drill here and drill now, because it is their belief that increasing supply will not decrease price. They don't believe that there is such a thing as cause and effect in economics, all they believe in is government forcing things to happen by passing laws and new regulations.