Dear Democrats: I would like to thank you for your inaction/no votes on allowing the US to build new refineries and also for not allowing us to drill for our own oil.
It would be nice if the republican “leadership” highlighted and pounded this point instead of suggesting alternative energy subsidies.
I think this is the time of year when refineries have to shut down to switch over to, what I call, the "Summer Flavor" of gasoline to satisfy the EPA and state regulations.
Hell, why not just pull the plug, shut down all the refineries, and let the pencil necks in Washington and Sacramento operate the refineries.
Please do not forget the 50+ blends of gasoline and ethanol mandates.
India and China are now major consumers of the world's oil supplies. That has increased demand, which has decreased supply and caused the prices to soar.
These two countries have become major consumers in large part because of American companies exporting their manufacturing to them. Not only has this increased the industry in these countries, which is a drain on oil supply, but it has increased the wealth and living standards of their citizens. These citizens are driving more and using other machines the consume oil.
This is part of the ‘hidden cost’ of the greedy side of corporations seeking a higher profit. Would they have been so eager to offshore had our government not put them under such punitive regulation and taxation? Probably not.
But if our government were to rescind that regulation and decrease the tax burden, does anyone really think the corporations that are already offshoring would suddenly close up their offshore shops and bring the jobs and manufacturing back to America? Of course not. They would see it as another spike to their earnings.
From all accounts their is no shortage of crude oil globally. What makes you think that any oil produced domestically would not also be sold at the current futures contract of $106 a barrel???? We already produce 40% of our oil consumption domestically already and it doesn't ease prices. Unless you plan on making it illegal for domestic oil to be sold for more than $40 a barrel and outlaw exports, I don't think it would matter if we produced 80% of our oil consumption. Not with free markets.
All this talk of domestic drilling is slight of hand to misdirect our attention at what is truly causing the price of energy to skyrocket, the systematic dismantling of the value of our $$$$dollar, and rabid speculation on the commodities exchanges.
Remember to thank the spineless republocants while you’re at it. We are the blind leading the blind.