The N.Y. Times posted an article that probably ran tingles up the editor’s leg.  Oil Industry Sets a Brisk Pace of New Discoveries but these discoveries were not American job producers. They were finds in “northern Iraq’s Kurdish region, Australia, Israel, Iran, Brazil, Norway, Ghana and Russia”.

            The cost of drilling for oil in the seas can cost up to $100 million, according to the article. No price comparison was made to extracting the same amount of energy from land wells.

            Because drilling in deep water well is so expensive the price of crude must be $60 a barrel or higher.

            So why are we in the United States not extracting energy from our domestic supply in these times of economic chaos?