Posted on 02/23/2012 4:47:41 PM PST by Marguerite
Kennewick, WA – Newt Gingrich issued the following response to President Obama’s speech on energy at the University of Miami.
“Instead of offering a real plan to lower the cost of gasoline, President Obama offered excuses and fantasies.”
“Blaming instability in the Middle East for high gas prices is not leadership. Neither is promising magic future technologies that won’t satisfy today’s energy needs. The fact is that President Obama could today, with a stroke of his pen, begin the process of bringing online 2.4 million new barrels of oil per day to US supplies – more than is transported through the Straits of Hormuz from the Middle East – simply by authorizing the construction of the Keystone Pipeline, re-opening the Gulf of Mexico, and permitting exploration and production in the Chukchi Sea and National Petroleum Reserve of Alaska.”
“This would completely wipe out our dependence on the Persian Gulf, dramatically increase our energy security and significantly reduce prices at the pump.”
I wish this was set in a living room with Gingrich in a cardigan comfortably seated next to a fireplace talking to us like friends - and as a friend how he would like to return this country back to us, the American people. Enough of those could get him elected.
“I wish this was set in a living room with Gingrich in a cardigan comfortably seated next to a fireplace talking to us like friends - and as a friend how he would like to return this country back to us, the American people. Enough of those could get him elected.”
It will be aired in many states next week. Gingrich super PAC has bought 30 minute slots to run it on TV.
Basically, it's our tough luck.
Then I hear Tom Sullivan say that the increase in gas prices since Obama took office amount to approximately $200 billion dollars.
That's $200 billion stripped away from other elements in the US economy, and now spent by people simply buying gas for their cars.
I guess when Obama says there's no silver bullet, he means the wooden stake in our hearts will have to suffice.
The D.O.E was of no help. I've been to BP’s & Exxon web sites to look at their financials for a clue.
I see the difference in price between Brent and other oil classifications.
I see we've reduced dependence on Saudi oil and increased dependence on Canadian.
I see we export approx 2 million barrels a day and produce about 10 million barrels a day.
We (the oil companies) import 126 million barrels a month from opec.
We have 22 billion barrels of proven reserves. and supposedly 2 trillion un-proven reserves ( shale ?)
What I don't see is, how does any of this weens us from mid-east\opec oil ? It still seems to me it's the oil companies that have to be weened from mid-east oil.
If the feds open up the whole country to drilling and fracking, how does that stop the oil companies from still buying mid-east\opec crude and selling it here ?
“What I don’t understand is: how do we buy oil from opec? Isn’t it the oil companies that buy from opec ?
Even if we drill everything (and we should) how does that stop the oil companies from buying from opec ?”
The oil companies are happy to buy oil on the world market, because they can sell it in America at the highest price, with maximum profit for themselves.
But if the country oil production would dramatically increase and the oil at the pump will be cheaper than the one imported, free market rules will make the companies to buy and sell ONLY American-produced energy.
OK, fair enough. This is simple Econ 101 - or supply and demand.
There is simply not enough supply in the world and too much demand - therefore, the price is high and the places you can buy the oil are limited.
It really doesn’t matter “where” our oil companies buy the oil, the fact that the middle east sits on much of the supply makes us dependent on middle eastern oil period - because middle eastern oil sets the price for the entire world.
Thus, if we developed our own supply, and more reserves have been discovered in the USA in the past 10 years than all of Saudia Arabia put together JUST in the Dakota’s - we would be free of our dependence on middle eastern oil because the world oil supply would be much bigger and the world price much smaller and the places you could buy your oil much expanded.
More consumer choice, if you will, with the consumers being big companies or countries - at this level.
Now, it seems to me you have a bit of a liberal phobia about “big oil” - the way you talk about it. The oil companies ARE the USA for all intents and purposes of this discussion.
Newt would need Rubio on ticket to take Florida.
That's not exactly correct, and sort of smacks of anti oil company liberal invective, which I do not expect from you. The oil companies would prefer to develop their own resources here and control the entire chain - even at a much lower ultimate price at the pump - than to do what they are having to do now. They realize that high prices can screw up our entire economy and our entire future, and these are companies who invest billion and billions of dollars on long term ventures and are not at all happy about anything the jeopardizes our economy.
Before he became Obama’s Energy Secretary Steven Chu’s comments that American gas prices should be as high as in Europe (9 to $10 the gallon) : “Somehow, we have to figure out how to boost the price of gasoline to the levels in Europe.”
Senator Obama’s comments of Jan 17th, 2008 – “Under my plan, of a cap and trade system, electricity rates would necessarily skyrocket.”
Obama had already indicted himself on the gas prices front.
Obama has no interest in lower prices for energy. How else could he pour the country’s billions to his green energy donors?
In Colorado the price is $2.98 for a gallon of regular. WHY? Because they have a pipeline that connects directly with Canada. They don’t use Saudi, Mexican, Nigerian, Venezualian oil for the gasoline production.
“Instead of offering a real plan to lower the cost of gasoline, President Obama offered excuses and fantasies.”
Blaming instability in the Middle East for high gas prices is not leadership. Neither is promising magic future technologies that won’t satisfy today’s energy needs. The fact is that President Obama could today, with a stroke of his pen, begin the process of bringing online 2.4 million new barrels of oil per day to US supplies – more than is transported through the Straits of Hormuz from the Middle East – simply by authorizing the construction of the Keystone Pipeline, re-opening the Gulf of Mexico, and permitting exploration and production in the Chukchi Sea and National Petroleum Reserve of Alaska.” — Newt Gingrich
But if the American people think Obama hasn’t done everything possible to buffer oil shocks, there’s reason: He hasn’t.
The administration on Tuesday blamed last month’s shelving of the Keystone XL pipeline on “political” acts by Republicans in Congress. In fact, Obama ditched Keystone — which would have brought Canadian crude oil to Gulf Coast refineries — to keep his greenie base happy.
And the pipeline is but one of many Team Obama decisions that have left America’s oil supply more vulnerable to the vagaries of world events.
* Under Obama, the American Petroleum Institute notes, leases on federal lands in the West are down 44 percent, while permits and new well drilling are both down 39 percent, compared to 2007.
* In the wake of the BP oil spill, Obama shut down most Gulf of Mexico drilling; there’s been a 57 percent drop in monthly deepwater permits over the last three years, according to the Greater New Orleans’ Gulf Permit Index.
* The EPA continues to block drilling off the coast of Alaska — where an estimated 27 billion barrels are waiting to be tapped.
http://www.nypost.com/p/news/opinion/editorials/bam_gas_price_plan_B1bfwSlY9X99J1gwZYctGM
If I’m not mistaken, there is another FR Thread bashing Charles for agreeing with the President on his Algae proposal.
Obviously we need an automatic SARCASM tag added to the existing Spell Check function. We had better get Jim right on it while he is upgrading the Servers.
Do I need to add /s?
thanks, but liberal ???? bahahaha ! sheesh ! and nowhere did I use the term ‘big oil’. bakken is being worked by lesser known US oil\energy companies.
I know mid-east sets their own production levels but they haven’t set the actual price since the mid 80’s.
supply\demand I understand, and I can agree with you re: larger world oil supply reaping a smaller price. and I should probably stop right here...but...
as long as it’s cheaper for the oil companies to buy existing than to drill new, they’ll likely continue to buy.
Politicians are saying we need to reduce our dependence on foreign oil...blah,blah,blah, like this Gingrich article about what we could do with a stroke of a pen.
But what is not mentioned is, it can’t be done without the oil companies buying in. Oil being a global market, that’s probably not going to happen.
if it even looks like Gingrich’s idea might take hold, opec will ramp up production so much that they’ll glut the market as they have historically done in these situations.
how can the rhetoric become reality ? I don’t see how it can made to happen.
I guess I’ll just keep my tires inflated...oh wait, now it’s algae.
Yep, the nekkid truth.
We would all be “peeing” down our legs-—yuck-—when Obama wins again. She and McCain were the reason in ‘08. So go right ahead with your suicide pact by throwing her hat in the ring; I should rather have Newt & Allen, at least we would get many extra votes with tough rhetoric these two will offer-—it’s about winning right now, she can have her position in higher government after we sweep the floor with Obama and the rest of the socialists and czars.
If I remeber right, he said gas should be eight dollars a gallon.
I voted against Obama in '08', so it is those that stayed home or voted for Obama that performed that suicide pact. How about instead of insulting Sarah for her lack of 'popularity', those that can't and do not 'win' with their candidates of choice hold the same responsibility.
The PROUD GOP establishment are the losers and without principled conservatives votes they will forever be losers. Liberals already know the leadership of the PROUD are in step and in line with them outside of party names. The PROUD have fallen, they cannot get up and I am NOT interested in playing their stuck on stupid games any longer.
You still seem lost on the fundamentals of market economics and you are connecting dots that don’t connect the way you connected them and therefore reaching some wrong conclusions.
If the United States signaled that we were serious about taking advantage of our own resources, it would send downward shocks on the world oil markets immediately in the short run and then would totally alter the supply and demand curve in the future, meaning much lower energy prices period.
Oil is fungible. If there’s more of it, regardless of where it is, there is a lower price. Period. There is no way around it. And the US has the ability to insure that there is more of it. Lots more of it.
Wow, and I just posted that idea yesterday. His guys must really be paying attention here. Glad to know somebody is listening...
:)
Note Gingrich's staff: Not just one, but a SERIES.
Pray for funding...
Newt Gingrich Campaign Rally in Spokane, Washington – February 23 2012 - Newt Gingrich holds a campaign rally at the Bing Crosby Theater.
http://electad.com/videos/newt-gingrich-campaign-rally-in-spokane-washington-february-23-2012/
And to pile onto that, whatever percentage of the oil supply is produced in the US means that much more currency remains circulating within the US (or is added to the circulation, if we somehow become a net exporter), which boosts the economy and the tax base instead of sending that wealth to other, and in many cases unfriendly, countries.
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