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Dems Kill Chances for Energy Independence? - Pelosi Stops Latest House Drill for oil Bill
Cramer Mad Money ^ | 06/11/08 | Tom Brennan

Posted on 06/11/2008 11:00:12 PM PDT by Fred

Dems Kill Chances for Energy Independence? A congressional subcommittee struck down an important bill, which could have opened up reserves worth billions of barrels of oil and trillions of cubic feet of natural gas, on Wednesday, Cramer said.

The measure would allow drilling between 50 miles and 200 miles off the U.S. coastline. Estimates for the reserves there were as high as 8.5 billion barrels of oil and 29 trillion cubic feet of natural gas, in addition to potential undiscovered resources of 86 billion barrels of oil and 420 trillion cubic feet of gas.

Needless to say, Cramer’s a bit perplexed. Especially since increased supply is the only way to bring oil prices down from almost $137 a barrel. American consumers need that. So do American businesses. And not just the users of oil, but those service companies involved with bringing it to market. The measure would have been a boon to Transocean , FMC Technologies , National Oilwell Varco and Schlumberger . Not to mention, Cramer’s favorite nat-gas names: Apache , Anadarko , Chesapeake , Devon and others.

Rep. John Peterson, a Republican from Pennsylvania, had high hopes for the bill. He was “surprised” it didn’t pass, he told Cramer today. “There’s a lot of members of the committee that were learning toward voting for it,” Peterson said. “There were some who had voted for it in the past.” But in the end “Pelosi power” prevailed, the congressman continued, referring to Democratic majority leader Nancy Pelosi of California.

“She has great control of her caucus,” Peterson said. “And when they decide not to vote for something, they all vote no. I was disappointed in that.”

The bill has two more chances to pass. While it did not make it past the Subcommittee on Interior and the Environment, the full Appropriations committee still has a chance to push the bill through next Wednesday. Then there’s the floor of the House.

“It’ll be interesting to see if all the Democrats will follow her lead there,” Peterson said.

What’s at stake here? America’s dependence on foreign oil.

“We’re really lagging. We’re not producing,” Peterson said. “We are now 67% dependent on foreign [oil]. And every time we vote not to produce energy, we are now more dependent on foreign. And those same people say, ‘We must wean ourselves away from foreign dependence.’ Well, we’re going to be 80% foreign dependent if their policies prevail.”

The outer continental shelf was blocked off from drilling 27 years ago. With oil and gas prices so low then, it might have made sense. But with the price per barrel for oil near $137 now, it’s “foolish policy,” Peterson said. U.S. companies could be forced to send business overseas where prices are as low as a tenth of what they pay here. Case in point: Dow Chemical . Back in 2002, that company paid $8 billion a year for natural gas. Now Dow is paying $8 billion a quarter.

Another factor worth mentioning: The U.S. used to hold 8 million to 10 million barrels of oil for emergencies. “That’s not there today,” Peterson said. So if a major hurricane strikes, a oil-producing country topples or terrorists attack the supply system, “we’re talking $200 tomorrow for prices for oil.”

Cramer’s call: “We cannot see lower prices until we do far more drilling. But the big places to drill are off limits. Rep. John Peterson makes sense. I think you should write your congressman and say that.”


TOPICS: Politics/Elections
KEYWORDS: 110th; energy; energyindependence; environment; envirowhackos; obstructionistdems; oil; pelosi
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Bill is H.R.2784

TITLE:
To greatly enhance the Nation's environmental, energy, economic, and national security by terminating long-standing Federal prohibitions on the domestic production of abundant offshore supplies of natural gas, to dedicate fixed percentages of the resultant royalties for environmental restoration projects, renewable energy and carbon sequestration research, and weatherization and energy assistance for those in need, and to share a portion of such royalties with producing States, and for other purposes.

How do we get this thing thru the Appropriations Subcommittee

Here is the video interview on Mad Money with Congressman John Peterson, who introduced the bill

1 posted on 06/11/2008 11:00:12 PM PDT by Fred
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To: Fred
Links to all Appropriations Committee Members
Democrats

David R. Obey, Wisconsin, Chair

John P. Murtha, Pennsylvania

Norman D. Dicks, Washington

Alan B. Mollohan, West Virginia

Marcy Kaptur, Ohio

Peter J. Visclosky, Indiana

Nita M. Lowey, New York

José E. Serrano, New York

Rosa L. DeLauro, Connecticut

James P. Moran, Virginia

John W. Olver, Massachusetts

Ed Pastor, Arizona

David E. Price, North Carolina

Chet Edwards, Texas

Robert E. "Bud" Cramer, Jr., Alabama

Patrick J. Kennedy, Rhode Island

Maurice D. Hinchey, New York

Lucille Roybal-Allard, California

Sam Farr, California

Jesse L. Jackson, Jr., Illinois

Carolyn C. Kilpatrick, Michigan

Allen Boyd, Florida

Chaka Fattah, Pennsylvania

Steven R. Rothman, New Jersey

Sanford Bishop, Georgia

Marion Berry, Arkansas

Barbara Lee, California

Tom Udall, New Mexico

Adam Schiff, California

Michael Honda, California

Betty McCollum, Minnesota

Steve Israel, New York

Tim Ryan, Ohio

C.A "Dutch" Ruppersberger, Maryland

Ben Chandler, Kentucky

Debbie Wasserman Schultz, Florida

Ciro Rodriguez, Texas

Republicans

Jerry Lewis, California, Ranking Member

C.W. Bill Young, Florida

Ralph Regula, Ohio

Harold Rogers, Kentucky

Frank R. Wolf, Virginia

James T. Walsh, New York

David L. Hobson, Ohio

Joe Knollenberg, Michigan

Jack Kingston, Georgia

Rodney P. Frelinghuysen, New Jersey

Todd Tiahrt, Kansas

Zach Wamp, Tennessee

Tom Latham, Iowa

Robert B.Aderholt, Alabama

Jo Ann Emerson, Missouri

Kay Granger, Texas

John E. Peterson, Pennsylvania

Virgil H. Goode, Jr., Virginia

Ray LaHood, Illinois

Dave Weldon, Florida

Michael K. Simpson, Idaho

John Abney Culberson, Texas

Mark Steven Kirk, Illinois

Ander Crenshaw, Florida

Dennis R. Rehberg, Montana

John Carter, Texas

Rodney Alexander, Louisiana

Ken Calvert, California

Jo Bonner, Alabama

 


2 posted on 06/11/2008 11:07:48 PM PDT by Fred (The Democrat Party is the Nadir of Nilhilism)
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To: All

A guy who works for an oil company said that since ANWR is so close to the pipeline in Alaska that’s already built, we could easily add the ANWR oil to the market in less than three years.

In the meantime, we can supplement with NUKE power.


3 posted on 06/11/2008 11:14:14 PM PDT by Sun (Pray that God sends us good leaders. Please say a prayer now.)
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To: Fred

“pelosi stops latest house drill for oil bill...”

scu&bag(s) extraordinaire that belong in institutions for the criminally insane or jails as traitors.

(imho with a big barf)


4 posted on 06/11/2008 11:29:57 PM PDT by ripley
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To: Fred
Rep. John Peterson, a Republican from Pennsylvania, had high hopes for the bill. He was “surprised” it didn’t pass, he told Cramer today. “There’s a lot of members of the committee that were learning toward voting for it,” Peterson said. “There were some who had voted for it in the past.” But in the end “Pelosi power” prevailed, the congressman continued, referring to Democratic majority leader Nancy Pelosi of California.

“She has great control of her caucus,” Peterson said. “And when they decide not to vote for something, they all vote no. I was disappointed in that.”

So Republican lawmakers take another 14 year snooze:

Photobucket

The RNC should be screaming bloody murder!

5 posted on 06/12/2008 12:04:39 AM PDT by Cobra64 (www.BulletBras.net)
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To: Sun
In the meantime, we can supplement with NUKE power.

Really? Where do we flip the switch?

6 posted on 06/12/2008 12:15:09 AM PDT by Cobra64 (www.BulletBras.net)
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To: Fred

It’s a good thing some of us either voted Democrat or didn’t vote at all back in 2006. That ought to teach the Republicans a lesson!


7 posted on 06/12/2008 12:15:50 AM PDT by Neoncon (I am disrespectful to Socialism! Can you see I am serious?)
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To: Fred


8 posted on 06/12/2008 12:22:48 AM PDT by jws3sticks (Hillary can take a very long walk on a very short pier, anytime, and the sooner the better!)
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To: Fred

Just listened to the video. That guy Cramer is really annoying. I can’t forward that link to anyone. They’d think I’m a whack job.


9 posted on 06/12/2008 12:25:36 AM PDT by Cobra64 (www.BulletBras.net)
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To: DAVEY CROCKETT

Ping.


10 posted on 06/12/2008 12:37:09 AM PDT by nw_arizona_granny ( http://www.freerepublic.com/focus/chat/1990507/posts?page=451 SURVIVAL, RECIPES, GARDENS, & INFO)
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To: Fred

11 posted on 06/12/2008 12:40:03 AM PDT by lowbridge ("I have never learned to fight for my freedom. I was only good at enjoying it" - Van Den Boogaard)
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To: Cobra64

LOL. I can’t listen to Cramer. I used to catch his show occasionally, he does sometimes say interesting things, but he got wackier and wackier. I don’t know if he’s losing his mind or if he thinks hysteria = ratings, but I got sick of him quickly and never listen to him anymore.


12 posted on 06/12/2008 1:05:02 AM PDT by Enchante (Barack Chamberlain: My 1930s Appeasement Policy Goes Well With My 1960s Socialist Policies!)
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To: Neoncon
It’s a good thing some of us either voted Democrat or didn’t vote at all back in 2006. That ought to teach the Republicans a lesson!

Took the words right out of my mouth.

Thanks for raising the price of oil democRATS AND perfectionist Conservatives!
Really nice job! Good thinking! Let's try to loose some more elections so that some day we'll win really big!!

You damned morons.
13 posted on 06/12/2008 1:12:54 AM PDT by dbehsman (I'll take a "third Bush term" over a second Carter term ANY DAY!)
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To: Fred; All
http://theanchoressonline.com/
 

Oil Inventories short; prices soar

And people are getting killed

Today Dems rejected
a plan to open US waters to drilling>

Gateway Pundit says:

Oil Prices Soared Today As Inventories Dropped–
Do you think the Democratic plan of raising taxes on oil companies will help?
How about the Democratic plan to sue OPEC over gas prices?… Do you think that will help increase inventories?

Yeah! Raise taxes! That will make more oil! Sue OPEC! They’ll listen to a court!

How about we just, finally, allow Americans to have access to their own oil and oil shale deposits?

Gateway’s helpful chart on Democrat and GOP energy plans:

Had enough, yet?

Yes, it’s absolutely true: if we started drilling today, it would take years to get the oil refined and into the market…we should have started 30 years ago...


As Atlas Shrugs likes to say, "Read the whole thing" at the link-- the Anchoress is quite a good writer.


14 posted on 06/12/2008 1:16:42 AM PDT by backhoe
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To: Fred

The RATS won’t give any kind of ‘victory’ to Pres Bush or to the Republican Party, especially during an election yar..The House and Senate DimocRATS have acted in the most disgraceful behavior since the Vietnam era...Their anti-war, anti-American sentiment has worn American’s patience to a thin edge and we hope they are all booted out in Nov ‘08 along with their cowardly, know nothing pres candidate..

What they are doing is affecting the rest of the world along with the USA..Gas prices are through the roof because OPEC and foreign countries control the price of oil..Every country in the world is paying higher prices and many countries are suffering as a result..This could result in a world wide depression...So much for the RATS caring for the poor and the impoverished..Their first and only care is for their backside...


15 posted on 06/12/2008 1:23:42 AM PDT by billmor (The American Voter--the Sleeping Tiger. Kicked in the back end.)
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To: dbehsman
I believe Rush said this one time, and I'll say it again. The primaries are where we teach moderate Republicans a lesson!
16 posted on 06/12/2008 1:32:27 AM PDT by Neoncon (I am disrespectful to Socialism! Can you see I am serious?)
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To: Fred

I just don’t understand how the dems can pick up more seats after this. I can’t believe my fellow Americans are that ignorant.


17 posted on 06/12/2008 1:37:13 AM PDT by beckysueb (Jimmy Carter is the skidmark in the panties of American history.))
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To: jws3sticks

She was really a skank.


18 posted on 06/12/2008 1:39:56 AM PDT by beckysueb (Jimmy Carter is the skidmark in the panties of American history.))
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To: Fred

DRILL and REFINE....NOW!


19 posted on 06/12/2008 4:16:54 AM PDT by Ann Archy (Abortion.....The Human Sacrifice to the god of Convenience.)
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To: Cobra64

In the meantime, we can supplement with NUKE power.

“Really? Where do we flip the switch?”

That’s the problem, NO SWITCH. Call your reps.


20 posted on 06/12/2008 2:49:49 PM PDT by Sun (Pray that God sends us good leaders. Please say a prayer now.)
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