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CORRESPONDENT OF THE DAY

By Staff Reports
Published: December 16, 2008

To Foil OPEC, Drill Here

Editor, Times-Dispatch:

It is obvious that OPEC is secretly delighted with the results of the large drop in the price of oil. Last summer OPEC stated that it was going to cut back production. This was when oil was at its highest price per gallon. OPEC never did cut back, because the U.S. had not renewed the ban on offshore drilling and politicians and newspersons were demanding, "drill now." This worried OPEC, because it could see that success by the U.S. could reduce its control of oil. So it began to cut prices so that there would be less demand for the U.S. to begin drilling.

At present there is no demand in the U.S. to drill for oil. OPEC is delighted.

Whatever the price is for oil, $1 per gallon or $140, OPEC makes tons of money. In a year or two, when the present recession is over, you will see the price per gallon go up and up until we scream, "drill now!" Then everything will repeat.

Bill Whitaker. Charlottesville.