Posted on 08/24/2011 4:51:09 AM PDT by Tolerance Sucks Rocks
Many energy industry experts are skeptical of Republican presidential candidate Michele Bachmann’s campaign promise to get gas back down to $2 a gallon if she’s elected.
“One thing that annoys me the most about politicians is that many will say or do just about anything to get elected,” said Robert Rapier of Consumer Energy Report. “My immediate reaction to that was to wonder whether she is really that naive or simply making dishonest campaign promises that she knows she can’t keep. Neither trait is one I want in a president.”
Bachmann skeptics say even if it were possible to lower gas to $2 a gallon, it wouldn’t be pretty: It could take a bad economy, tax cuts, increased subsidies and even price controls to get there. And, of course, it would involve more domestic drilling for oil.
“I’ve heard this one before — during my fifth grade student council election,” said Stephen Lacey of Climate Progress. ” ‘If I’m elected, I promise to get the lunch lady to serve more french fries with every meal in the cafeteria.’ “
But others say the Minnesota congresswoman has the right idea.
“I think it is realistic,” PFGBest analyst Phil Flynn said. “If you move toward natural gas in this country, if you allow drilling, if you start getting out of energy companies’ way, we could start heading in that direction.”
It won’t be easy, experts warn — even for a sitting president.
“I think anybody in the White House has the influence to increase prices,” said Tom Kloza, chief oil analyst at the Oil Price Information Service. But you can’t decrease them as easily as you can increase them, he explained.
(Excerpt) Read more at washingtontimes.com ...
If you stopped commodity trades in oil world wide, the price would drop like a rock. Let the actual buyers and sellers compete, you buy it, you take delivery and you resell or drink it makes no difference.
drill everything, use more natural gas, remove the requirements for ethanol, quit with the ethanol subsidies. and if we get oil flowing at home, opec will dump prices to match.
also getting gas prices down will fuel the economy like crazy. people will go back to buying gas guzzling sports cars and SUVs, will drive more, have more money to spend on tourism and vacations.. and lots of jobs will come back.
Funny how all these experts are green commies?? Yes it will require drilling and it was under $2 when bozo arrived.
Pray for America
And does the Energy department work toward Energy Independence - No.
So what Michele is saying is that we need to completely turn it around and make Energy work for America. After all, it would probably result in JOBS!
DOH!
One thing that annoys me the most about politicians is that many will say or do just about anything to get elected,” said Robert Rapier of Consumer Energy Repor
Oh so you have heard of Barack Obama..
If you removed just half the taxes, you’d probably have gas at $2.00/gal. right there. Remove the binds 0bama and the EPA have placed on businessmen to drill and refine oil and you would have a market again.
1) Open up off shore and deep water drilling with a permitting process that takes no more than 2 months.
2) Open up ANWAR
3) Do away with the EPA
3) Decrease the permitting process for all investments (e.g., drilling, pipeline construction, etc.) to a max of two months.
4) Cut both the corporate and personal tax rate to a flat 17% (suggested by Friedman).
5) Stand back and get out of the way.
And don’t buy the Lib crap that it will take a decade for such policies to make an impact on the spot price of oil. Look what happened to the spot price of oil within two days of Bush's Executive Order to open up off shore drilling.
Bachmann’s figures may actually be pessimistic.
One thing that OPEC has shown, like clockwork, is that it will move to undercut genuine efforts at US energy independence (and I don’t mean 55 mpg cars that nobody wants or windmills that are as unreliable as weather, but serious oil drilling).
“Funny how all these experts are green commies?? Yes it will require drilling and it was under $2 when bozo arrived.”
Yeah, agree. All that’s necessary to acheive $2.00 gas is to get the governmen out of the way and remove restrictions on drilling off shore, Alaska, etc. In other words, let the free market do it’s job without hinderence. However, in order for Bachmann to accomplish this she will have to retain a majority in the House, achieveable and a veto proof majority in the Senate, more challenging, especially when considering there’s two RINO’s that have to be considered in the calculation, Olympia Snow and Susan Collins. Conservatives will need enough to override a veto even though these two may vote the other way - which they very likey will....
Two dollar a gallon gas may not be profitable for anyone given what the dollar is worth today.
“I think it is realistic,” PFGBest analyst Phil Flynn said. “If you move toward natural gas in this country, if you allow drilling, if you start getting out of energy companies’ way, we could start heading in that direction.”
Woohoo! Phil’s one of the good guys.
Of course those in the oil industry are skeptical. They will be working relentlessly to keep oil prices as high as they think they can get away with.
But is inarguable that increasing US oil output will do to things: First, lower prices. Second, bring some stability to the petroleum market.
We are witnessing the market at work right now. As US and world-wide manufacturing spirals downward, demand for petroleum products is commensurately dropping. Result: Declining oil prices.
actually, we would not have to drill a single hole...all we have to do is loosen the laws to allow it...the arabs would crap all over themselves and drop the price...bush did exactly that... and we need to build refineries on a large scale...
Mike
They don't give a damn about anything but control. They want sky high fuel prices to herd everyone back to their liberal run ghettos. If they can make it next to impossible to live in the burbs, or out in the country, that can have total control of your life.
Where and when you go, where you shop, the heating and cooling of your home, and where you work. The cities contain the bulk of their voting base, and they went broke when all the productive people that work for a living left.
If they can't force people back to the cities the demonrat party will soon cease to exist. They can't raise enough taxes from a population that doesn't pay any to keep the welfare scam in their failed cities going.
It is as simple as that.
No the market is not at work normal now, the interest rate is at a fake zero, means wall street turns to speculation for profits. Read the report on oil speculation released last week.
This would not affect demand in any way, other than to probably drive it up. Those of us who believe in free market economics know that price demands on BOTH supply and demand.
They could build several more oil refiners in the north mid west and forget about that stupid oil pipe line. Cost would probably be less, and it would mean more jobs and less risk.
typo: price depends on BOTH supply and demand.
It was really stupid for Bachmann to promise something that depends on factors completely out of her control, namely demand for gasoline.
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