Posted on 03/18/2011 12:55:01 PM PDT by Nachum
Thank you. Price is only part of the equation. Think of what energy independence would do to our trade balance, the jobs situation, etc.
Well, NOT drilling has made the price rise.
Not sure how one figures the opposite wouldn’t be self-evident.
(I know, liberals aren’t logical)
He knows that as long as he keeps his nose up Obama’s ass and says what he is told to, he keeps the best paying job he has ever had.
Exactly. So we would make more money domestically and foreigners would make less.
This is the slap-on-the-forehead obvious fact that the greenies always want us to forget when they keep telling us domestic oil production will not have any effect.
Richard Newell, administrator of the U.S. Energy Ministry of Truth
Someone missed Econ 101. Increase supply (not to mention less transportation cost because of domestic production vs. importing from half-way round the globe), and the price goes down.
This “Energy Information Stooge” is undoubtably bought-and-paid for by the crack-heads in charge who DON’T WANT lower prices of energy and a strong America.
You see - that is what this whole scheme is about - bringing the USA to her knees. A cripple America is one ripe for “rescue” by a one-world system of government. As long as we are strong - that can’t happen.
Of course it won’t drop prices, since the government will simply raise the taxes to make up for the difference.
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This just in: Newell is an envirowenie, academician, no practical experience to speak of, New Jersey big city, global warming, lower your carbon footprint, economist.
I submit for your consideration his profile:
http://www.whorunsgov.com/Profiles/Richard_G._Newell
I’m sure this comes as a shock to all of us here at FR.
“Newell said that because oil is a global commodity dependent on global trends, domestic production would do little to ease prices at the pump in the near future.”
Imbeciles reign supreme in the Obama Amateur Administration.
Idiots like Sen. John Kerry and Cantwell said the same thing years ago that it “takes too much time”
You have to start a journey with the first step. You never get to the destination immediately.
Common sense, which is devoid in Democrats.
When you have MORE SUPPLY, you are in a position to limit the impact of the cartels ability to raise prices.
Did restaurants learn to lower prices, when people started eating at home more often?
And announce 20 coal to oil plants and 100 nuclear plants that are safe and clean. THEN watch energy prices fall.
For some reason, the concept that people act rationally when faced with incentives is simply lost on leftists.
‘Drilling Unlikely to Lower Oil Prices, Energy Information Chief Says’—
only in the ‘age of Obama’.
PS... typical economist... on the one hand this, on the other hand that. Never does give a clear answer, just options.
BTW, I worked with ICF Resources on a project years ago. Washington think tank pimping for government project dollars on force account (no bid) projects. High IQ people low on experience. They are all about data and little else.
Because if we paid below world-market prices, there would be less incentive to drill. A lot of what we have left could not be profitably extracted at less than $100 a barrel.
And if we sold at less than the world price, companies and individuals would have an incentive to smuggle oil out of the country.
Remember in June ‘08 Bush lifted the offshore moratorium on drilling and the next day, oil prices drop by $10/barrel. By the end of ‘08 gas was $1.70 (from $4 six months prior).
Commodities traders act on perception and the mere idea that the US will open closed areas for drilling drops the price.
He forgot to mention that he’s in the pocket of the royal family. This traitor is spreading blatant lies.
The basic forces behind human nature and economics are always present, the socialist simply chooses to ignore them.
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