Posted on 05/16/2008 11:34:10 AM PDT by Sub-Driver
Releases Contact: Brendan Daly/Nadeam Elshami 202-226-7616 For Immediate Release 05/16/2008 Pelosi Statement on President Bushs Failure to Pressure Saudi Arabia to Increase Oil Production
Washington, D.C. Speaker Nancy Pelosi released the following statement on record oil prices as news reports indicate that Saudi Arabian officials have rejected pleas from President Bush to increase oil production. In trading today, oil reached a record more than $127 a barrel:
As record oil prices continue to burden American families and businesses, reports indicate that the Presidents visit to Saudi Arabia today to push for increased production has failed. Despite considerable influence, the Bush Administration has been ineffective in pressuring Saudi Arabia and, yet again, has failed to effectively use diplomacy to exact short-term relief for American consumers.
Next week, the New Direction Congress will send legislation to the President to suspend deliveries to the Strategic Petroleum Reserve, a tool that has in the past reduced prices for consumers. As the President returns from the Middle East, I urge him to reverse his opposition and finally take this action, signing legislation that has passed the House and Senate by veto-proof margins.
"Next week, the House will also act on legislation that will extend and expand tax incentives to invest in renewable energy and create the green jobs of the future, as well as revised NOPEC legislation to crack down on OPEC-controlled entities and oil companies for oil price fixing.
As the Presidents drill and veto policies and diplomatic efforts with respect to OPEC have only led to increased gas prices, the New Direction Congress will continue to take legislative steps to help ease the pain at the pump.
They should drill in Pelosi’s head for oil.
Like the remedies she recommends, it wouldn’t lower the price of gas, but it would sure make me feel better.
Let her go to them, then. She has no problem going over to negotiate with the Syria, sureky, she can convince the Saudi’s to increase production.
I canot wait for the day when we finaly wake up as a country and become self-sufficient in enrgy production, whatever the source. I can’t wait for the day when we can tell the collective Middle East to pound sand..and their oil.
Open ANWR - then worry about the rest.
Take care of business at home first.
Stupid and a hypocrite...no surprise. It’s amazing that in the same 5 minute span she can whine about being beholden to foreign oil, then criticize Bush for not begging the sheiks to turn on the tap.
“It is better to be quiet and be thought of as perhaps a fool, than to open one’s mouth and remove all doubt.”
Pelosi is living proof of this ancient rule.
Keep talking Nancy, you preside over the most unpopular congress ever! The more face time you get the more democrats will lose office.
By that time Saudi Arabia may be making more from worldwide non-oil investments than from oil.
Nancy, honey, why don’t you just hop on a plane and make those Saudis pump more oil.
Clueless beotch.
My understanding is that the Saudis are almost at their capacity right now. Even with a massive effort at increasing capacity by spending some 60bil they might be able to go from 9.5 to 10.5 in a year or so and no more than 13mil when finished. Like everything else obvious to most but the sheep and dumbles, oil is not just a water tap. It takes time.]
[No, not clueless...just an opportunist to make people think she and her party have some answers. and an excuse to slap W again.]
I had a thought this morning. I wonder if by refusing to lower the price of oil the Saudies are hinting to the democRats and enviro whakoes to let the American oil companies drill off the coast of Florida, California and at ANWR?
I suspect that we have an interesting “play” going on currently. All of the “experts” in oil that Saudi employs...are either British or American...and it is to their advantage to say 100 percent is being pursued and 100 percent is being pumped. The Saudis likely believe that statement entirely, and merely passed that along to Bush.
When you look at the profit line of every single oil company..its way above what it was four years ago. They’ve grasped the entire game of pricing and how to play the OPEC card to the max. Everyone is getting rich off the oil...so why not continue playing this game....even at $200 a barrel.
No No...her words need to be played on loud speakers at every gas station 24/7.
Anwar + the Coast of FL and CA 50% of the problem solved. Just the news of doing such would bring the cost of oil down $30 a barrel.
Suspending the deliveries has NEVER reduced prices. What HAS reduced prices is releasing oil FROM the reserve. When they site proof, that's what they point to, when Clinton dumped a lot of our oil on the market at cut-rate prices to drive down the cost of gas to help get Al Gore elected in 2000.
As the President returns from the Middle East, I urge him to reverse his opposition and finally take this action, signing legislation that has passed the House and Senate by veto-proof margins.
The President has already said he is going to sign the bill, so she is essentially "urging" him to do what he already said he would do. That way, she can take credit for "influencing" him.
I think we should call them the "wrong direction" congress, in honor of their "New Direction" which is decidedly making things worse.
Agreed. Especially considering that the Saudis have, in fact, agreed to increase production by 300,000 barrels per day.
A token amount to be sure. Yet big enough to get Pelosi to STFU.
If stupid ever gets up to $100 a barrel I want the drilling rights to Nancy's head.
Bush: “SA, could you drill more of your oil?”
SA: “Why don’t you drill more of your own oil?”
Bush: “Congress won’t let me”
SA: “Well, that’s pretty good for us, isn’t it?”
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