Tuesday, July 29, 2008

Yes! There Is Intelligent Life In D.C!

I'm in a slight state of shock at the moment. It isn't terribly often that I agree with something that comes out of the mouth of a senior government official, regardless of the administration. However, I just read the transcript of a speech that Under Secretary for International Affairs, David H. McCormick, recently made concerning the oil market.

I don't know where this government employee gets off thinking clearly and making sense. Perhaps you're still permitted these luxuries when you're a mere Under Secretary. Perhaps he's positioning himself for a cozy job at a think tank in a few months. Perhaps he was drinking. Regardless, the piece is a little dry, but Mr. McCormick does a very nice job of summarizing what's been happening in the oil market in recent years.

If you'd like a nice little primer, the full article can be found here.