Fox and Kristol claim McCain’s VP choice will cause gas prices to ‘plummet.’
Fox and Kristol claim McCain’s VP choice will cause gas prices to ‘plummet.’
On Fox News today, host Alexis Glick previewed an interview with Bill Kristol by claiming that the Weekly Standard editor believes “the second John McCain announces his VP pick, gas prices will plummet.” During the segment, the Kristol Ball’s “prediction” turned out to be that he thinks McCain might pick Alaska Gov. Sarah Palin as his running mate. Here’s why Kristol claims such a pick would lower gas prices:
KRISTOL: First, I think she would help him get elected, which would be a good thing if you want gas prices to come down. Then she’ll persuade him that we have to drill in ANWR and have an aggressive drilling program across the board.
That’s all Kristol offered to support his and Fox’s ridiculous claim. Watch it:
One major flaw in Kristol and Fox’s claim that drilling in the Arctic National Wildlife Reserve would lower prices immediately is the fact that it would take 10 years for the oil to hit the market, and even then, the reserve is estimated to have only enough oil to satisfy six months demand.
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It may not be a ridiculous claim. McBush’s friends in the oil biz may be prepared to drop prices just to make him look good.
June 30th, 2008 at 7:20 pmThis Kristol Ball is cracked and not functioning properly.
Note to America : Kristol thinks you’re stupid.
Note to Trolls : You are stupid.
June 30th, 2008 at 7:20 pmYes, GAS will be 5 cents a gallon! VOTE GOP! 5 CENT a gallon gas!
June 30th, 2008 at 7:21 pm1. I fear you’re right. Look what they did before the 2006 elections and then prices rose immediately after the election…after weeks of decline…
June 30th, 2008 at 7:21 pmIf you make sense to the right side, they will instictively re-write the words to fit their agenda. Experts say it will take ten years to get the miniscule amount of oil to the pump; the right side reads it as it will take less then ten months to put enough oil in the marketplace to lower prices.
Its all the same words, the right side just does not do ‘accurate’ very well. They like lies, it makes the FEEL better about themselves. Kristol makes them FEEL better about themselves, Torturing innocent humans makes them FEEL better about themselves. Fox news makes them FEE better about themselves. History will piss on them.
June 30th, 2008 at 7:22 pmWhy should we do more drilling in Alaska? Last I heard the oil currently in the Alaskan pipeline goes over to Asia and not here to us in the States. Also, what about the 68,000,000 acres of federal land that the gas and oil industries currently hold drilling leases for. Why don’t they start there?
June 30th, 2008 at 7:26 pmI know Faux news is a laughing stock, but when did they get bought out Comedy Central?
June 30th, 2008 at 7:27 pmI predict McCain’s VP choice will cause gas.
June 30th, 2008 at 7:28 pmThese guys are so full of garbage, unless they lie & manipulate to make themselves look good. Do they realize the vast majority of Americans, and virtually ALL the rest of the world, just don’t believe their lies any more? Repubs are two-faced flip-floppers & backtrackers on any promises. And, of course, they pander constantly to their big oil friends. These comments, such as, gas prices will “plummet”, are hollow vows with no factual backup– not to mention the fact that many of them, especially Fox “News” viewers, will think “plummet” is a new mini-plum, or a type of bird.
June 30th, 2008 at 7:29 pmSo there is a magic wand after all.
What happened to that “supply-and-demand!” broken record of theirs?
June 30th, 2008 at 7:29 pmFor Kristol’s predictions, he’s what; 0-345?
Bill Bennett must love playing poker with this chump, after they finish the weekly world domination meeting.
June 30th, 2008 at 7:30 pmMs. Palin must be a VERY STRONG woman in order for the Right Wing to select her…
;)
June 30th, 2008 at 7:39 pmFox and Kristol claim McCain’s VP choice will cause gas prices to ‘plummet.’»
atleast more than Obama.
June 30th, 2008 at 7:42 pmBut But, what about the Mitter? He could deliver Mass. (Heh heh).
But maybe Palin does have a secret valve she will turn and instantly, 4 million BBLs/day will flow right to the refineries.
And I still believe in the tooth fairy.
June 30th, 2008 at 7:43 pmJayzus, Rog2, do you believe EVERYTHING Faux says?
Get some professional help, this is past serious.
June 30th, 2008 at 7:48 pmupside99 Says:
I didn’t source fox.
June 30th, 2008 at 7:50 pmNo, but you are defending their stoo-pid comments on this thread.
And your article didn’t reflect one way or the other on Obama and oil prices, only his (shared) frustrastion with the lagging of investments in alternative energy.
June 30th, 2008 at 7:55 pmHas anyone besides me noticed that every new version of Rog that pops up here is more mentally impaired than the last version? Isn’t it time for the RNC to put this model out of it’s misery and try to recruit new blood?
June 30th, 2008 at 7:57 pmO.K. I never thought I would defend Bloody Bill, but, his record at “predicting” the actions of neocons isn’t too bad because he’s in on the planning. It’s the reaction of the rest of the World that escapes his powers of divination.
That being said; I’m dead certain there’s a neocon plan to reduce gas prices, and give the credit to McPander Bear, at some point before the election. And Bloody Bill’s ego won’t allow him to keep his yap shut until they can enact it. Mr. Kristol just might end up as an effective ally for Obama.
June 30th, 2008 at 7:58 pmupside99 Says:
he didn’t say anything about lowering gas prices when asked, just they’re effects.
June 30th, 2008 at 8:00 pmWhen asked by Harwood if higher gas prices were an incentive to shift to alternative means of energy, Obama said the U.S. has “been slow to move in a better direction when it comes to energy usage.” When Harwood followed up and asked if the higher prices then could actually help, Obama responded this way:
“I think that I would have preferred a gradual adjustment. The fact that this is such a shock to American pocketbooks is not a good thing. But if we take some steps right now to help people make the adjustment…we can come out of this stronger and have a more efficient energy policy than we do right now.”
June 30th, 2008 at 8:05 pmrozerze Says:
upside99 Says:
he didn’t say anything about lowering gas prices when asked, just they’re effects.
it’s their poor
spelling that
holds them back.
;)
good luck.
¢
June 30th, 2008 at 8:06 pmFor west coast C-Span viewers, C-Span 2 is now rebroadcasting a focus group, run by Dem. pollster Peter Hart.
It will be a good way of seeing what a demographically-diverse group says about the issues…
June 30th, 2008 at 8:06 pmThe troll is not here because it feels strongly about expressing its views. It gets a kick out of flaming the thread and diverting attention from the topic. We respond to its incoherent ramblings when a translator is in the room, but only because we don’t want its claims going unchallenged.
This more of a TP admin problem than it is our lack of ignoring the trolls. TP admin expects us to hide our frustration and adjust our habits to accommodate the babbling. Hold your reich-wing views, trolls, but you can’t even post in half-decent English, it should be treated as spam, and you should be banned.
June 30th, 2008 at 8:07 pm*This is more of a TP admin problem
*but if you cant even post
June 30th, 2008 at 8:09 pmWell gee roz. Don’t you think it’s possible that Sen Obama realizes that the people with the power to affect gas prices (various representatives of the international energy industry) are a bit beyond the reach of a single U.S. Senator, even if he’s the nominee for President?
Like it, or not, gas prices aren’t fixed (or regulated sufficiently, but that’s a different subject) by the U.S. Senate much less any single legislator. Indeed, the only entity on the planet which can affect gas prices is collecting profits unmatched in the history of humankind. Do you really think a Senator from Illinois could persuade them to reduce that level of profit?
June 30th, 2008 at 8:12 pmMcWars Says:
The troll is not here because it feels strongly about expressing its views. It gets a kick out of flaming the thread and diverting attention from the topic. We respond to its incoherent ramblings when a translator is in the room, but only because we don’t want its claims going unchallenged.
This more of a TP admin problem than it is our lack of ignoring the trolls. TP admin expects us to hide our frustration and adjust our habits to accommodate the babbling. Hold your reich-wing views, trolls, but you can’t even post in half-decent English, it should be treated as spam, and you should be banned.
it is apparent that english
is not rog’s first language.
n’est pas que vrai, rog ?
•
rog, vos chaussettes sont descendues
vos chevilles encore et votre mère est
une prostituée très simple.
*
good luck.
™
June 30th, 2008 at 8:13 pmI see your point McWars. However, the trolls do serve to hone our arguments even when theirs are so weak or non-existent. So long as their assaults on reason are stupid, rather than abusive, I really don’t mind too much. I can ignore or engage dependent on mood.
June 30th, 2008 at 8:17 pmRog2 is beyond the bounds of logic and reason. It just lives in a tightly sealed bubble, devoid of any connection with reality.
June 30th, 2008 at 8:17 pmpete Says:
yes, I suppose being a one-term senator, he can’t do much.Not like he’s president, or will be, so how could be possibly effect gas prices?.
June 30th, 2008 at 8:22 pmI was on vacation for a few days, just returned, Bill Kristol is still a blithering moron. At least some things are still right with the world (sarcasm over)
June 30th, 2008 at 8:22 pmDon’t forget fear, upside. They are so completely terrified their world view might be wrong that they are incapable of processing information which challenges their preconceptions.
Their plight drives me more to pity than anger in most cases.
June 30th, 2008 at 8:24 pmRoger 2 It’s affect (cause), effect is the result. I guess you missed that in about 6th grade, or did you not reach that grade before knocking up your sister?
June 30th, 2008 at 8:24 pmKristol Loves Israel…not America!!!!!!!!!!
June 30th, 2008 at 8:30 pmPete,
I agree, and I keep wondering how some of these 23%ers will react come January. Because ….. their world will NEVER be the same!
June 30th, 2008 at 8:33 pmYou miss the point (huge shock there!) roz. Sen Obama isn’t running for King, ruler, or even leader of our country. We elect Presidents. That has a specific meaning and was carefully chosen to avoid the excesses of Kings, rulers and leaders. If you want a leader? Vote for Hitler.
Legislators also are not rulers or leaders. They are representatives of their constituents. Here’s an exercise for you roz. Identify, with documentation, a U.S. Senator who has ever, single-handedly, set the price for any commodity.
When you do that we can consider Sen Obama’s relative effectiveness.
For extra credit: Identify any U.S. President who has, single-handedly, set the price of any commodity.
June 30th, 2008 at 8:34 pmupside99 Says:
….. their world will NEVER be the same!
June 30th, 2008 at 8:33 pm
That’s a double plus all around!
June 30th, 2008 at 8:35 pmHelen Hussein Rainier Says:
Why should we do more drilling in Alaska? Last I heard the oil currently in the Alaskan pipeline goes over to Asia and not here to us in the States. Also, what about the 68,000,000 acres of federal land that the gas and oil industries currently hold drilling leases for. Why don’t they start there?
Correct, most, if not all of the North Slope oil goes to Japan, etc., some even to China.
June 30th, 2008 at 8:38 pmAgain, opening up ANWR is not about the oil that lies under it, but the logistical fact that it is the ideal location for a seaport energy/security city once the Arctic Ocean is navigable year round.
The millions of acres of leases in the US are like money in the bank for the oil and gas companies. All they need is the judicial precedent of saying to hell with a National Wildlife Refuge and the creatures in it, endangered species included, and it’s drill rigs away. The Bush administration has already exempted the oil companies from liability if a few polar bears (now an endangered species) and walrus’ are “harmed or inconvenienced”.
Once environmental impact statements are rendered passe, there will be a drill rig in every backyard. It has already begun here in the West. About 7 1/2 years ago.
upside99 Says:
Pete,
I agree, and I keep wondering how some of these 23%ers will react come January. Because ….. their world will NEVER be the same!
June 30th, 2008 at 8:33 pm
I believe that could be the definition of “scary thought”. Rigid thinking (to use the term loosely) has probably killed more people than smallpox. As their fantasies are exploded, one by one, the 23%ers will become more and more dangerous. After all, once their utter defeat becomes official, they will have nothing to lose.
June 30th, 2008 at 8:39 pmIf Rog2 is really waiting for his Repugs to lower gas prices, he will be long dead before that happens. Why TF would anyone invested in the oil business or supported by them, EVER want to lower prices.
But maybe Rog2 feels he can just wish it so. GO for it Rog!
June 30th, 2008 at 9:11 pmThe only thing that will cause oil prices to plummet is the total and complete shutdown of unregulated electronic oil futures trading in markets in the US, UK and Dubai.
ENRONed again: this time by oil futures contracts speculators who are unnecessarily and very profitably driving up the price of crude oil and hence retail gasoline prices.
We’re being ENRONed again. Curious as to why you are suddenly paying over four dollars a gallon for gasoline? No, it’s not due to “supply-and-demand,” no, it’s not due to “OPEC,” nor is it due to “peak oil.” It’s due to totally unregulated electronic oil futures trading in world markets. Check out the very lucid article that explains the unseen financial machinations in oil futures markets written by F. W. Engdahl on May 2, 2008, entitled, “Perhaps 60% of Today’s Oil Price is Pure Speculation.” It may be viewed at http://www.financialsense.com/editorials/2008/0502.html.
In a nutshell, he suggests that the Bush Administration dropped the ball in January 2006, when they allowed totally unregulated electronic trading of oil futures contracts in New York. Previously these electronic trades had been made at the London Intercontinental Exchange (ICE) Futures Market. With that decision by the Bush Administration, all of the world’s oil prices were then opened to upward pressure from speculative futures contracts.
In essence, oil futures contracts made by speculators, banks, hedge funds and pension funds all competed with real demand on the spot markets and had the effect of driving up both wholesale oil prices and retail gasoline prices. Speculators have made billions of dollars on their trading of oil futures contracts. All of their profits come right out of our pockets.
Even with a stable oil supply, there is a slow worldwide increase in demand for oil, which creates a long-term upward pressure on oil prices. However, with the relentless saber-rattling and war-mongering by Bush and Cheney in the last several years, and the more recent war talks by McCain and the Israelis, the oil futures markets are rife with speculation and paranoia. This war talk keeps ratcheting up the prices on the oil futures contracts and hence the wholesale spot market prices. It is an endless spiral of greed and paranoia.
As long as there is no tough and effective oversight of the electronic oil futures markets by the Bush Administration, the oil prices will climb endlessly. These oil prices will be quickly followed by hikes in the retail gasoline prices at the pump. The 60% speculation share of the $4.25/gallon gasoline price, is about $2.55/gallon, which is what we consumers are paying to these oil speculators as a “service fee.” Not a bad “fee,” since the speculators produce no usable goods or services…Just a few large greedy oil futures traders helping themselves to your gas money.
Without this added-on oil futures “service fee,” you would be paying about $1.75/gallon for gasoline. Write, call or smoke-signal your Representatives and Senators today and suggest that they read the June 2006 report by The U. S. Senate Permanent Subcommittee on Investigations entitled, “The Role of Market Speculation in Rising Oil and Gas Prices.” Then demand that they investigate and then force the Bush Administration to firmly regulate the computerized oil futures contracts trading in New York, London and Dubai.
These unregulated electronic oil futures trading markets should be completely shut down immediately. They serve no social purpose, they only enable corporate greed. These same greedy corporate speculators are probably also responsible for the rapid rise in the prices of basic food commodities, such as wheat, rice and corn. No one who is not prepared to accept physical delivery of one thousand barrels of oil on their front doorstop should be allowed to participate in the oil futures markets. Same goes for wheat futures, rice futures and corn futures.
June 30th, 2008 at 9:20 pmWow!
Just like that, eh? McCain announces his VP and wham! -prices come down.
I wonder if gas prices will come down further in proportion of the votes that the McCain ticket will get in the election, or if it’s an all-or-nothing type of situation.
What a ridiculous, preposterous claim. Then again, it’s no more ridiculous than the claim that Iraq had stockpile over stockpile of WMD and that Hussein posed a unique threat to the US and the world.
I’d be laughing at these morons were they not so dangerous…
June 30th, 2008 at 9:22 pmPrices will come down, like magic.
I think we have all had enough of Republican “magic” these past 7 years to know what will happen if McCain gets elected: Not only prices won’t come down, they will go further up after more-of-the-same McCain bombs Iran.
June 30th, 2008 at 9:25 pmWell, look at it this way; if BushCo can take the prices from $22 to $143 in 7 years, by invading a country, then maybe McDepends has the same power to reverse that trend.
Right, Rog?
June 30th, 2008 at 9:28 pmKristol, always predictably wrong.
Just like the trolls in this thread…
June 30th, 2008 at 9:32 pmI wish the Kristol ball would implode like Johnny McWars campaign is currently doing……….
June 30th, 2008 at 10:09 pmI would like to point out that “johnsom” has repeatedly stated he will no longer post at TP. The troll in this thread has stolen his identity and is trying to make the real “johnsom” look like more of an idiot. Please TP. Bring this blatant name-jacking to an end.
June 30th, 2008 at 10:23 pm06/23/2008 – 11:06am. Alerts
A BUZZFLASH NEWS ALERT
by Meg White
Sen. John McCain (R-AZ) recently switched his policy on offshore drilling, calling to increase federal leases last week at a campaign stop in Texas.
This switch, after years of opposing such action in the Senate, puts McCain in line with President George W. Bush’s energy policies. In his weekly radio address this past weekend, Bush called for Congress to act. Like McCain, Bush cited Americans’ pain at the pump as a reason for Congress to lift the ban on offshore drilling.
Which is funny, because there is no ban.
What the president and McCain want is for Congress to lift a moratorium on the issuance of new drilling leases.
Which is funny, because the oil companies aren’t using the leases they already have.
According to a special report released by the House Committee on Natural Resources earlier this month, the amount of drilling permits issued between 1999 and 2007 increased by 361 percent. But that doesn’t mean actual drilling has increased. The committee noted that there are almost 10,000 unused drilling permits already issued by the Bureau of Land Management. The report says the leases are being “stockpiled” by oil companies.
The report goes on to note that little more than 27 percent of federal land leased to oil companies and almost 24 percent of offshore federal drilling sites are currently producing oil and/or gas. In total, the committee estimates there are 68 million acres worth of leased but unused drilling sites. Should energy companies put these areas into use, domestic oil production would nearly double and natural gas production would increase by 75 percent.
According to the U.S. Minerals Management Service, 79 percent of the offshore oil reserves and 84 percent of onshore reserves in the U.S. are already available for leasing without lifting the moratorium.
So instead of lifting the moratorium, Rep. Nick J. Rahall (D-WV) has a different idea. On June 12, Rahall introduced The Responsible Federal Oil and Gas Lease Act (H.R. 6251). The bill, which has 35 co-sponsors, would prevent the Secretary of the Interior from issuing new leases to companies that aren’t pursuing the leases they already have. Additionally, the bill proposes such companies give up leases they aren’t using.
June 30th, 2008 at 10:24 pmOh yeah. The “leftist sources” pseudojohnsom refers to include spokespeople from the oil industry who confirm that, regardless of any possible action by the U.S. government, it will be at least 3-5 years before a single additional well can be drilled. Unless Exxon wants to hire the Chinese/Cubans there are no available drilling assets.
June 30th, 2008 at 10:27 pmThat’s the funny part, Keith. The oil industry and the Republicriminals haven’t coordinated their stories. Maybe the oil companies are the real “leftists”? sarc/off
June 30th, 2008 at 10:29 pmIn the 1992 campaign I was living in NC and paying 95 cents per gallon. Because of record budget deficits under Reagan and GHWBush, candidate Clinton proposed a nickel tax on gas. Every Republican squealed “gas will be $2 a gallon if Clinton gets elected!”. About eight years later, I was still paying about 95 cents a gallon and Clinton had taken us from record deficits to record surpluses.
During the 2000 campaign, the Repubs said all our energy problems would be solved if their energy experts were elected. Bush blamed Bill Clinton for oil being $20 per barrel in 2000. Now I am in California and the cheapest gallon is $4.60. Bush and Cheney’s energy buddies are laughing all the way to the bank.
June 30th, 2008 at 10:35 pmjohnsom says: “… because we are a peace loving nation, before we act in our own self interest. We’d rather be with our kids at the ballpark, minding our own business, but sooner or later some rouge elements force the issue.”
We have 750 military bases in 130 countries. We spend more than the rest of the world combined on our military. We spent 500 times as much as Saddam (who we put in power in the first place). All things considered, we spend near $1 Trillion per year on our military—there is so much spending outside the Pentagon budget. We’ve been overthrowing peaceful democratic governments for a long time–just to take their resources or strategic positioning. Phillipines in 1898. Iran in 1953. Guatemala in 1954. Chile in 1974. Nicaragua in the 80’s. We have killed 1.3 million violently in Iraq which had no WMD’s, no connection to 9/11, and no ties to al Qaeda. They do have the #2 oil reserves. Iran (next) is #3.
Pentagon document JOINT VISION 2020 calls for FULL SPECTRUM DOMINANCE of the world by the US military by the year 2020. Total control of land, air, sea, information, and space.
June 30th, 2008 at 10:53 pmJohnsom,
You are totally delusional. I have been in the oil business and was involved in the North Slope development. Your optimistic statement is just that: We won’t see any significasnt production from ANWR for 8-9 years, at the best.
And guess what; it is not easily refrined, is not ’sweet’ crude and will most likely end up in China or Alaska, just like our North Slope crude is as we speak.
It will have MAYBE a 2-3 Cents/gallon impact on our refined gas price but no more.
Anyone buying into this fanatsy, is just lining the pockets of the multi-nationals.
June 30th, 2008 at 10:58 pmWait, I thought invading Iraq would cause gas prices to plummet – oops, on to the next idea.
McCain – The Plummeter.
June 30th, 2008 at 11:00 pms/b ‘China or Japan. Sorry.
June 30th, 2008 at 11:00 pmOh. I thought that if McIIIrd selected the Alaskan, Kriztol would sacrifice his body and provide the nation with a month’s worth of rendered ego to burn.
June 30th, 2008 at 11:01 pmJohnsom likes him some rouge elements. Mostly on his cheekbones.
June 30th, 2008 at 11:02 pmdrick23 Says:
whats the solution to gas for dems. using our food supply. more propaganda, and whining with no solutions.
And what is your answer for 170 dollar crude by December?
Blow some out your arse? That should work.
June 30th, 2008 at 11:13 pmBefore the elections the Bush or Israel will attack Iran. The price at the pump will go up to $8 or more per gallon. Get used to it.
June 30th, 2008 at 11:14 pmdrick23 Says:
whats the solution to gas for dems
We build a time machine, go back to 2002 and DON’T FU(KING INVADE IRAQ!!!
One expert said putting regulation on speculators would cut $2 off a gallon.
Don’t give tax breaks to pay one third of the cost of an accountant’s SUV.
Increase mpg on cars. I’ve been saying this for 25 years.
Plug-in electric cars with a solar panel on your garage. EV-1’s worked fine in the 1990’s everyone who had one loved it! roof.
June 30th, 2008 at 11:19 pmon your garage roof.
June 30th, 2008 at 11:21 pmWhere are the gasoline shortages?
I don’t see them–do you?
The American public seems to be doing its bit–oil consumption is down. Shouldn’t that relieve the scarcity? Doesn’t seem to be working.
If it’s not scarcity, then what?
June 30th, 2008 at 11:47 pmOh, I don’t know–what about the PLUMMETING DOLLAR?
The fact tthat The Republicans are spending money like the entire Rusian Navy docked at the Atlantic City Casinos on a Free Drinks tourist plan?
Just dropping pallets of hundreds into contractors’ flatbeds, while dropping the tax burden on the wealthy? Borrowing from the Communist Chinese as if they were Uncle Prescott?
You know, if our dollar became stronger, elementary economics would tell you that the price of imports would go down.If the dollar suddenly jumped 20% in value, oil prices would get 20% cheaper. Just like that!
So what Kristol is talking about could happen, if Sarah Palin gets up and says “Vote Republican, because as soon as the geezer kicks it, I’m going to whomp up the income tax, dividend tax and estate tax on the rich until our budget gets balanced. Oh, and withdraw from Iraq.”
That could actually do it, you know.
johnsom,
Whatever it is that you are smoking, I’d quit it if I were you.
It is unsettling to read how divorced from reality you actually are. The US has more oil reserves that Saudi Arabia? Wow! You would be the world’s greatest magician if you can produce that much oil in the US out of thin air…
July 1st, 2008 at 12:08 amBloody Billy makes stuff up…that is why he is never right about anything, EVER!
July 1st, 2008 at 1:09 am.
When will McMaverick start laying golden eggs?
Maybe the McMedia knows…
.
July 1st, 2008 at 1:17 amA little tidbit on Alaska. The Alaska Gov. Sarah Palin actually governs a state that has the highest gas prices in the U.S.
July 1st, 2008 at 1:44 amOil prices will go down because Republican crooks can manipulate the market to make it go down. They want to help elect John McCain and controlling oil is just one way to do it.
The Republican Party is a criminal organization.
July 1st, 2008 at 5:42 amNevar Says:
Also, what about the 68,000,000 acres of federal land that the gas and oil industries currently hold drilling leases for.
Most of that property is miles off the coast or on some scrubland in Montana. Who wants to spend years exploring for oil in godforsaken places like that? All the oil company execs want is some nice beachfront property in Malibu or West Palm Beach to set up shop.
July 1st, 2008 at 8:51 amUncapping the Naval petroleum reserves in Alaska will help, but lets get away from foreign and domestic oil and really concentrate on alternatives that are not food related, lets stop the Enron loophole, let`s throw the Shrub and his crime family in Jail.Phuck the neocons and let them rot in hell,let`s bring our soldiers home to thier families.
July 1st, 2008 at 8:52 am#45 Oval12345678 aka James K. Sayre above has it right. House Representative Bart Stupak held an energy oversight subcommittee hearing last week that revealed it beyond all doubts. Every one of tho sworn witnesses testified that ol speculators were unnecessarily doubling the price of gasoline, diesel, and natural gas in the U.S.
As a remedy, he introduced H.R. 6377, the Energy Markets Emergency Act, which, if passed, directs the Commodity Futures Trading Commission (CFTC) to use its existing authority to investigate and limit excessive energy speculation.
Joe Lieberman is even eager to get in on the action. He’s trying to bar funds from commodities speculators altogether. Which is a BAD idea as hedge funds are historically necessary for commodities providers (particularly the smaller industries) to hedge against severe market price drops after bubbles.
Lieberman is also drafting separate plans to prohibit private and public pension funds with more than $500 million in assets from investing in agricultural and energy commodities traded on a U.S. futures exchange, foreign exchange or over the counter. Also a stupid idea because those same companies can form legal “swaps” with brokerage firms with less-than $500 million in assets to get around this loophole.
My theory is that he wants to get out front on this so as to protect his congressional insider trading friends’ cash cow.
If McCain picks her Alaska Gov. Sarah Palin, he’ll do it just as Bush signs the Farm Bill, which will also close the Enron loophole, held by industry experts as largely responsible for speculators causing the present-dayy oil price bubble.
July 1st, 2008 at 9:02 amUh, just an observation, but on Fox News Sunday, didn’t Kristol call the Alaska Governor Sara Taylor?
July 1st, 2008 at 9:54 amNever mind. I went back and listened closely to the video. Kristol said it correctly.
Still amazing though that the neocons still don’t see a problem with prolonging the country’s dependence on oil.
July 1st, 2008 at 10:13 am