Seals needs lesson in basic economics
For someone who claims to have a degree in international economics, Dan Seals doesn't seem to know much about how markets work. Just look at his energy policies.
Mr. Seals loves to mug for the cameras and wax hysteric over the cost of gas. Yet he opposes every measure designed to reduce prices. He opposes exploring for oil off the coast of Florida, something even Sen. Durbin agrees is necessary. We haven't built an oil refinery since the 1970s, creating a bottleneck that drives up the price of gas; yet Mr. Seals criticizes Congressman Kirk for supporting new refinery construction. How are we supposed to lower the price of gas when we don't increase our supply of oil or our refining capacity, Dan? Magic?
It is simple, high school economics: if you want to reduce the price of a product you must either increase the supply of said product, or reduce the demand. Demand for gas is not likely to fall anytime soon, so we must increase the supply. And that cannot happen when people like Dan Seals stand in the way. Luckily he isn't the position to do so, and if he doesn't change his tune he probably never will be.
Jacob Klein
Deerfield