We're all gonna turn into flesh-eating zombies.
This ridiculous grandstanding by Congress is going to get NOTHING done except inflame the masses of sheeple into voting for Obama. Meanwhile, our way of life will continue to circle the drain while the fat cats in Washington ignore our plight.
Its really quite hypocritical of our Congress to legislate suing OPEC for not producing enough oil (to keep prices down) while Congress is restricting the supply of domestic oil. After all, aren’t the greenhouse gases from OPEC oil just as bad for the polar bears as greenhouse gases from domestic oil?
We're all gonna turn into flesh-eating zombies.
This kind of statement is fairly common now since everybody who buys gasoline for his SUV is an expert economist. "Price is up 4X but demand isn't up 4X: must be some collusion going on here." A closer look at the supply/demand chart reveals that the price line is not a straight line. We have difficulty of comprehension when the equation is not linear, and we also lack the concept of velocity; the difficulty is a result of failure of education in the Gummint schools.
Can't have that, you know, with a Polar Bear crisis and all.
Al Gore was their dupe WITH BENEFITS.
The American people have been duped by COngress AND HAVE NO SAY!!
What ever happened to "We The People"...
HOw stupid are Americans to put up with the shenanigans of these Congress folks? When will the SHEEP (enviro nazis as an example) learn that THEY created this along with Congress and take the fall for it?
Neither Obama or McCain are running on the idea of addressing our domestic oil exploration and production issues. If they stay true to their word (ha!), then it will be 4-5 years before we have any reasonable plan to make us energy independent.
If on the other hand this is just a short term market issue, much like the California electric power issue of a few years ago, we will do nothing to address the core supply issues. One day we will have to deal with it however, it is going to be painful.
schu
“But a top executive from BP said the high prices are being driven by global forces.”
That’s a bald faced lie. The U.S. purchases and consumes over 50% of the world’s oil. As the largest consumer we control the market and it’s time for the oil execs to stop lying about that.
Increased demand + stable supply = increased price. See Economics 101.
The fricking idiot senators should look in a mirror and they would see what the problem is.
OPEN ANWR, build 100 nuclear plants for starters.
Then Senator explain why WORLD market prices are over $120 per barrel. Any student of econ 101 can explain that high prices are largely a result of tight supply and increasing demand. If Sen.Leahy and friends had allowed drilling in ANWAR and off the Florida coast world market prices would be at $55-60 per barrel. The Democrats are bound to bring back the economics of the Carter administration with stagflation, economic malaise and long lines at the gas pump for high priced gasoline.
The only reason the price of oil is up is because the value of the dollor is way down and easy credit.
With the devaluation of the dollor aka inflation, and no increase in oil production to offset we get inflation in the price of oil
It makes you wonder if they really can’t sell the crude or are they waiting to sink the tankers in the Straights of Hormuz should a conflict with the US break out.
It is not just gas you congressional dolts. Look around and see if you notice any plastic components. They are everywhere in your house, office, computer, automobiles, and your lobbyists private jets. It takes oil to make all plastics and plastics are the backbone of the non-steel based manufacturing industry.
Tires, plastic forks and kitchen ware, Xboxes, toothbrushes, the list is extensive and the economy is booming all over the world not just here.
Plastic demand has a lot to do with overall oil demand.
1. Remove the restrictions on drilling offshore, in ANWR and in the mountain states.
2. Increase the minimum margin requirements on commodity accounts from 25% to 50%.
3. Immediately repeal the 8,000,000,000 barrel mandate for ethanol use and remove the subsidy for corn growers, ethanol refiners and ethanol dealers.
4. Freeze the wages of Congress until inflation goes back under 1%.
5. Repeal the $1M cap on tax deduction of CEO pay (Clinton did this in 1993 and it directly caused the practice of paying CEOs with stock options which sent CEO compensation through the roof and led to the massive corruption in accounting which boosted stock prices temporarily).
6. If Congress can’t do these things, then ritual suicide is always an option.
BS.. Futures trading GREED TAX is what the price is all about.. the execs saying its simply a supply issue is just as idiotic as the tobacco execs standing up there and saying cigarettes aren’t addictive.
While I believe we should be tapping our domestic supplies, and securing this hemisphere, mainly so we aren’t dealing with a part of the world that makes 800 ad look modern. Blaming the current price of gas on shortages of supply is no less a lie than the cigarettes aren’t addictive line.
Now that the democrats control congress they can no longer blame Republicans for the rise in prices. As a matter of fact the price was $2.19 a gallon when they took control saying they would fix the problem. Well, here we are at close to $4.00 a gallon and Nancy and Harry bitching about how all Bush wants to do is drill, drill, drill. If they continue to block domestic drilling I see $8.00 to $10.00 gas.