Posted on 10/09/2015 11:26:48 AM PDT by Olog-hai
Defying a White House veto threat, the Republican-controlled House on Friday approved a bill to lift a 40-year-old U.S. ban on crude oil exports.
The House approved the bill on a 261-159 vote. Supporters said an ongoing boom in oil and gas drilling has made the 1970s-era restrictions obsolete. Lifting the export ban would lower prices at the pump, create jobs and boost the economy, said House Speaker John Boehner, R-Ohio. […]
The White House called the bill unnecessary and argued that a decision on whether to end the ban should be made by the Commerce secretary. …
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By this time Congress should have peppered Obama with at least a dozen ‘common-sense’ popular bills begging him to veto.
I totally agree. If Boehner and McConnell had worked to send Obama bills to veto they would not be in such low regard now. Its not unreasonable that we expect our leadership to lead the charge against the President.
It’s high time this rancid legacy of the Second-Worst President in U.S. History, Jimmah Carter, is thrown into the garbage dump of bad enviro-nazi ideas.
Good news, make take a position on US oil now...
Tension in the Gulf drives the commodities prices upward as the way out for tankers is limited and it does not take much to turn off the spigot...
Side benefit for those at the top who can and will play it going up, and down, they know what is coming as they planned it
We have to import oil every day to meet demand. So I don't believe this for a minute.
Even though I’m not sure I agree with this bill (I would need to read up on it more), I find it amazing that even in this Dear Leader is baffled by Constitutional process. Seriously, the Commerce Secretary?
Did you forget the pipeline the Saudis built to bypass Hormuz?
Considering that the Saudis have double crossed OPEC by pumping oil to depress prices, we might as well help them out. The more we do to achieve independence by throwing off the Saudi yoke, the better. It helps us by having additional outlets for our oil surplus to our needs. That supports activity in the oil patch.
Capacity is not there to meet demand I believe, and perceptions of escalation will push it higher...
Oh looky. The "institution" isn't broken yet. Boehner continues to "save" it. Why now does he seem not to care about a veto? Geez.
Obviously that campaign highlight of Obama as a constitutional scholar was bogus. I’d love to see his records from Harvard. I’d also like to see his bar exam results.
Carter wasn't in office when the ban was put in place. That would have been Gerald Ford with his signing of the 1975 Energy Policy and Conservation Act.
My question is was he even there? Or is that another lie he had to ‘hide’?
So now to get the senate to hold a vote, more dopey windmills must be added to the bill.
Anything we can do to drive down the cost of a barrel of oil is good for us locally and bad for our adversaries globally.
I believe this bill would allow more potential supply in the global market. This should have the effect of again driving down the price of a barrel of oil.
Add to that public perception of Obama when he vetoes legislation they want, and the Republicans could have put themselves in a position to win something. There is definitely something rotten in the GOP leadership.
The oil export ban creates an artificially high oil price for oil sold on the world stage, and an artificially low oil price for oil sold in the US.
There is a price difference between the oil we import and the oil we produce in the US, with the oil we produce being cheaper. There is a bottleneck in the US with the crude we produce, so our crude sells at a discount to the world crude price.
You need to know that a lot of refineries are set up to refine imported heavy crude. Refineries are converting to be able to refine more light sweet crude, but the process takes time.
Dropping the oil export ban would do two things-
Increase the price of our domestic crude creating or saving jobs. Then it would drop the price of imported crude as world supply would increase.
“Settled law”, eh?
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