Posted on 02/27/2011 12:58:17 PM PST by kristinn
The uncertain situation in the Middle East could send world oil prices to $200 or $300 a barrel even as the Obama Administration fails to promote domestic energy development, Gov. Rick Perry (R-TX) warned today.
Gov. Perry spoke to bloggers at a briefing in Washington, D.C., this morning. (Present were Rob Bluey of the Heritage Foundation, Jen Rubin of The Washington Post, and your Shopfloor.org correspondent.) The governor, who is chairman of the Republican Governors Association, is in town for the winter meeting of the National Governors Association.
In light of oil crossing the $100 a barrel price this week, we asked about the Obama Administration’s policies and attitudes toward development of domestic energy. The governor responded:
Gov. Rick Perry Putting America’s future at jeopardy by basically hand-cuffing ourselves because of our lack of focus on domestic energy policy I think is devastating to the future.You said hundred-plus-dollar-a-barrel oil. Yes. That’s today. It certainly could go to $200 or even $300 a barrel if the situations in the Middle East – Libya, into Syria, Jordan, Iraq, Iran, Saudi Arabia, Yemen all of those countries – if we’re to see continued deterioration of peaceful conducting of business in the drilling and transportation of oil….
I don’t think it’s out of the reach of possibility to see oil even twice or three times what it is today –- devastating to the world economy.
America really needs to get on, and this Administration needs to respect that we can drill safely, cleanly, and get America independent.
SNIP
(Excerpt) Read more at shopfloor.org ...
Good for Gov Perry.
Obama has been thwarting energy efforts in Texas from the very beginning.
The want to crash the greenback, make us beg for new IMF tokens.
“They want to crash the greenback, make us beg for new IMF tokens.”
Actually, if we get out of this mess at even $300, I’ll be happy.
The way I see it, the cut-off of Mid-East oil (which will hit mid-March) will drive the price up to $300, maybe a bit more...then it will sloooooooooly drop as demand and supply shift to compensate.
But also, even without a cut-off of supply, the crash of the dollar will have us paying $300 also (basically, the dollar will lose two-thirds of its value in the world market).
If the two are put together, then we’re looking at $900 oil, or about $25 per gallon. Hard to believe, but they’ll have to add a digit to the pumps again (like when we broke the buck on gas).
Obviously at that price, big, big changes are in store for the United States and they will NOT be fun. But we will get to experience how the Third World lives...which has ALWAYS been the goal of Democrats and school teachers (I couldn’t help adding that one).
How long we stay in that mess and what we look like long-term is anyone’s guess. We have the ability to be the freest country on the planet, but if we spend our time blaming “Big Oil” we will not get anywhere...and may not pull out.
So, stock up now, on EVERYTHING. Prepare to ride out a storm that is still unimaginable for 99.99% of the country. It will be quite a journey.
(I’ll put this post into my profile page)
$300-dollar-a-barrel oil will send a tingle up the legs of environMENTALists.
And my company just ended its telecommute program and all other forms of flexible schedules. Travel costs are going to sky rocket. ugh.
Made me smile, but yes, unfortunately, everything is right on track and running along fine according to some folks.
What Perry isn’t saying, and probably knows, is that BHusseinObamugabe wants $200/barrel oil. As he and Soros know well, $200/barrel oil means a redistribution of US wealth to other countries.
This could be our Egypt obozo say’s he’s not worried about it though.
We get a minority of our oil from the ME, but of course oil is a global commodity. Oil going that high would destroy the global economy.
Yes, we need to explore and tap our own oil here, but we also need to make any oil produced, refined and sold here tax free on the profits.
When normal travel becomes most of a family’s budget the din of “DRILL BABY DRILL” will be deafening
“This could be our Egypt obozo say’s he’s not worried about it though.”
It could be, From. But I prefer he ‘learns’ from his misguided ways and takes the country out of this.
Crap, you’re right - it will get probably get very ugly.
“When normal travel becomes most of a family’s budget the din of “DRILL BABY DRILL” will be deafening”
Travel will not, because it cannot. Once prices are that high, cars will be nothing more than monuments to the past, as the cost of food and water (not to mention heating) will be so high that the thought of driving ANYWHERE will be out of the question.
It won’t be as bad as you say but it will be very bad. This is how a once great nation commits suicide. The people lose their clarity, pride and vision and decide to indulge themselves in feel good environmentalist fantasies. They reverted to infantilism and scummy leaders like Hussein Obama took advantage of it.
Holy crap! I just got back from the store and that bottle of Italian salad dressing that was $1.50 last week is now $3.98
Stand by for major inflation.
Food shortages coupled with increased fuel cost is a bad recipe.
$5 gas is a poison pill for the economy.
It will make voters in Nov 2012 long for the “good old days” of 10% unemployment.
Baraq is a guaranteed loser in any 2-way matchup.
He still has an outside shot at a Clintonian plurality win if they can produce the right 3rd party challenger.
“It won’t be as bad as you say but it will be very bad. This is how a once great nation commits suicide. The people lose their clarity, pride and vision and decide to indulge themselves in feel good environmentalist fantasies. They reverted to infantilism and scummy leaders like Hussein Obama took advantage of it.”
I agree with what you say except what makes you think it won’t get that bad. I had the same problem 6 years ago when I was trying to figure out how banks could stay in business when they were losing $250k in each foreclosure in California...and I was right there.
Just because it hasn’t happened does not mean it cannot happen - we may not hit $25 gas...but I’d be really surprised if we can keep it to $10.
Ridiculous. If it got anywhere near that high, demand would fall off a cliff and the price would come down.
For better or worse, Romney would slaughter him. He could probably still beat Palin though.
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