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Newt Gingrich Slams President Obama’s “Excuses” On Energy
newt.org ^ | February 23, 2012 | Newt Gingrich

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.”


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KEYWORDS: gasprice; newt
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To: Marguerite

Hmmm...

Now I’m really confused.

How is it that Colorado is enjoying $2.98 regular? Do they have a refinery close thereabouts that turns that Canadian oil into gas?

Regular is $3.47 here in central Texas and we not only have oil but refineries scattered all about.

Someone please enlighten me.....


41 posted on 02/24/2012 5:36:07 AM PST by LastDayz (Tar and Feathers come to mind.......)
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To: LastDayz

Pump price is a wide combination of factors — state and local taxes, property values, operating costs, etc. As the price of oil rises and falls, all of these prices will rise and fall in tandem with them, but they will still have these variances based on the local costs of doing business.


42 posted on 02/24/2012 5:43:31 AM PST by kevkrom (Note to self: proofread, then post. It's better that way.)
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To: Marguerite
WAKE UP GOP!

And stop this “pure social CONservative” garbage immediately! This country is on the ragged edge of being lost, with only one chance left to fix itself.

Right now, Birth control, abortion, women's role in combat, etc,,, is not only stupid, it is all just a smoke screen to disguise the incompetence and inept abilities of a Big Government, insider politician who is every bit as unqualified to fix this mess as Romney is.

The real man for this job is being allowed to slip through our fingers, and hardly anyone seems concerned over what they are allowing to happen.

GO NEWT! GO!

43 posted on 02/24/2012 5:50:28 AM PST by PSYCHO-FREEP (If you come to a fork in the road, take it........)
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To: stylin19a
Newt is DEAD ON on this one. He is truly wise and understands what the problem is. The Williston Basin, (what you incorrectly call “bakken”) is a vast and widely spread field with small to moderate volume wells, that will take decades to get producing. The field is also isolated in regards to getting the oil to market. It is also extremely expensive to drill there. Add to that, the increase of EPA restrictions and what they refer to as “effort”, production will drop significantly.

In addition to that, the recovery rate of the target formations is under 4%, which is also a problem. Without the Keystone Pipeline, you can bet that the Williston Basin is very close to it's peak ability and it will take a President like Newt Gingrich to understand the process in getting the pipe line built ASAP.

Your opinion of the World Market is also off. The reason for the recent increase is due to unrest in the Middle East as Speaker Gingrich says. And you are wrong about the Oil Company's preference to buy cheaper oil first. The facts are, American Oil Companies have no other choice at the moment, because there is simply not enough Oil being explored for or produced here, to meet the demand for what we consume.

Most of our oil already comes from Canada and Mexico, and by forcing the Oil Companies to buy from other sources is a major factor in the current crisis.

I hope this brief explanation was helpful in giving you better insight as to what the real problem is. I know that it would not be necessary to explain this to highly intelligent candidates like Mr. Gingrich, who is acutely aware, as well as amazingly qualified to take the correct measures.

44 posted on 02/24/2012 6:18:31 AM PST by PSYCHO-FREEP (If you come to a fork in the road, take it........)
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To: kevkrom

Yep, you are 100% right about that...


45 posted on 02/24/2012 6:36:44 AM PST by C. Edmund Wright
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To: Marguerite

Has anyone heard that the Sierra Club has joined with Chesapeake Energy to promote the use of natural gas instead of coal. I think that Chesapeake paid them $26 million for the deal.

That’s on the East Coast, though, The Sierra Club and the other NGOs have struck a different deal in WA State. They have agreed to allow the coal to be shipped to China through a gigantic coal terminal in Whatcom County, as long as the NGOs get to control the environmental mitigation funds, all of them, and guess who gets to pay those mitigation funds??? We do, the tax payers, not Goldman Sachs, who owns the terminal, not Warren Buffet who owns the RR, not Peabody Coal, who owns the coal, WE , the TAXPAYERS will be paying for the privilege to of a horrible, dirty coal terminal, and the Sierra Club is sitting back and letting this one happen.


46 posted on 02/24/2012 7:30:57 AM PST by Eva
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To: Joshua Marcus

First off, I can’t throw Palin’s hat into the ring. I wish I had the power to make Gingrich the nominee and her as VP choice, but alas...

Palin definitely boosted the ticket in 2008:

60,000 greet Sarah Palin at Florida rally (September 2008) http://www.youtube.com/watch?v=XbWLLLyDEvI

Unfortunately, there was a loser in the top position, so it wasn’t meant to be.

I am no Palinbot. I’ve had my issues with her at times as I have had with Gingrich, but I like that they both take on Obama and the media. I think they would make a dynamic duo. But all this is wishful thinking so don’t get wee wee’d up over anything I post.


47 posted on 02/24/2012 7:58:52 AM PST by beaversmom
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To: stylin19a
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 ?

aren't we really dependent on the oil companies ?

Competition and reliable/independent sources are critical to purchasers maintaining stability in a given market.

48 posted on 02/24/2012 8:09:04 AM PST by bondserv (Regarding Mitt Romney: I could not warm up to this guy if we were cremated together.)
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To: PSYCHO-FREEP; C. Edmund Wright
Thanks. Cripes....not incorrect...I AM talking about the Bakken formation. - it's part of the Williston Basin. Bakken is set ( if hasn't already) to exceed Alaskan output and it's still going up.

http://www.theoildrum.com/node/3868

I don't disagree re: the unrest in the Mideast.

Single countries: Canada, Saudi Arabia and Mexico- in that order - are our largest importers. provides OPEC combined provides approx. 44% of crude imports...and that percent keeps going down - and the Persian Gulf sub set of OPEC
only provides approx. 21 %

maybe I AM connecting dots that aren't there.

thanks for the input.

maybe I should just sit back and watch supply\demand finish
the job of us become less dependent on Mideast oil......until OPEC floods the market.

49 posted on 02/24/2012 8:44:48 AM PST by stylin19a (time to Obamanos)
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To: stylin19a

Well, if OPEC flooded the market, which I’m not sure they can do now, then everyone’s price will go down quickly.

The two key things to watch are supply and demand, and the strength/weakness of the dollar versus gold and versus the Euro.

The next to watch is the US Economy over all, which is really part of the demand side.

Then watch price, and if price goes up, you will see demand go down, and thus you’ll always see price go back down. The economy might surge a bit on low prices, but will stall on high prices.

Meaning, the only way to get meaningful long range lower prices that will stay low during an economic recovery is to have more supply. More supply will dominate every other factor if we would but achieve it.


50 posted on 02/24/2012 8:54:28 AM PST by C. Edmund Wright
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To: stylin19a
Are you trying to educate me?

My fault, I failed to let you know that I have spent over 30 years between both Alaska (Prudhoe Bay) and North Dakota, working as a drilling engineer. (Since 1976)

Initial daily production is always the highest in a new field, withing the first 2 to 3 years. The projections you are hearing are mostly wishful thinking. The real mechanics of the Williston Basin are very limited. The target formation you refer to has an extremely low recovery rate. Most of the “Projections” you are reading about, are just that; “Projections”. These projections are based on immediate yield, from wells that will drop sustained production to less than 50% within 2 years, due to the nature of the geological physics.

And You did not listen to me the first time, when I pointed out that America uses far more oil than it produces, which is why we still import more than we produce. Yes, it is, just that simple.

51 posted on 02/24/2012 9:04:45 AM PST by PSYCHO-FREEP (If you come to a fork in the road, take it........)
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To: PSYCHO-FREEP; C. Edmund Wright

Thanks...didn’t mean to offend. just trying to make sense of all the crappola i’m seeing\reading. I’m trying to educate me. Gingrich made a bold statement.

i’ll sut-up now and listen.


52 posted on 02/24/2012 11:08:52 AM PST by stylin19a (time to Obamanos)
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