John McCain states that drilling offshore will lower gas prices. He is either deliberately misleading us for votes, or he is woefully ignorant of economics. These aren’t good traits for a president.

The global price of oil depends on the worldwide supply and demand, and oil production from offshore drilling will be much too small to affect the global price.

In 10 years, when these wells might be in full production, Bush’s Energy Information Administration estimates that their oil would increase the world’s annual oil production about three-tenths of 1 percent. That’s about one-half cup more in a 10-gallon fill-up. This tiny increase might reduce the pump price of gas two or three cents per gallon.

We can’t reduce the global price of oil by drilling because we have less than 4 percent of the global oil reserves. When McCain shouts, “drill here, drill now and lower gas prices,” he is hoping you won’t think it through.

Unless we smarten up, our ignorance will make this cheap and dishonest political ploy successful in getting votes, but it won’t reduce the price of gas and heating oil.

John Alexander

Old Town