Posted on 06/26/2008 5:14:27 AM PDT by thackney
By some estimates, oil prices could hit 200-dollars a barrel. If you do the math, that translates to $6.64 a gallon for gas! Meanwhile, Congress can't agree on a course of action. Democrats are looking at new regulations on speculators, while others -- like Woodlands Republican Kevin Brady -- want to increase drilling:
"...And while Congress is eager to place the blame elsewhere, whether it's OPEC or Big Oil or Big Autos, the fact of the matter is we ought to take a square look in the mirror. We need more American-made energy, and this Congress has resisted it."
Oil economist Karr Ingham disagrees with other analysts who see prices continuing to spiral out of control. He says rather than penalize the speculators, the free market should be left alone: "That's the economic system under which we operate. And ultimately, it's market forces that solve our problems for us."
Ingham says it's because of the current market that we're using more ethanol, and expanding research into other areas: "We would not be embarking on any of this if crude oil were still 20-dollars a barrel. So, it's rising prices for crude oil - relative to other sources of energy - that are going to spark the development of alternative energy."
Ingham says the current economic environment is actually more favorable to a drop in oil prices, which would bring prices down.
By Labor Day.
Democrats are privately hoping for $10 gas.
“Democrats are privately hoping for $10 gas.” -Always Right
Your moniker seems fitting. The more expensive gas gets, the more people will want to carpool, get rid of their SUVs, lower overall usage here. That’s been an important Dem agenda item for some time now.
I was thinking Thanksgiving or Christmas, maybe I’m too optimistic
Yes, that is right. They do not want to fix anyhting because the blame will go on the Republicans.
Just like when the Republicans had power, the rats obstructed everything the Republicans tried to do. Then the rats stood back and told the American people that the Republicans are inept. The people believed the rats and voted them into the House and Senate.
No different this time. As long as the rats can lay blame at the Republicans feet, they are not going to fix this. I am sick of the party politics. The rats should be removed and never let back into power again.
If some wildcatter were to find a huge heretofore unknown pool of oil/gas, the dems would do their best to stop the production.
Innovation is a by-product of our wants and needs.
Democrats, those RINO Republicans, and those legislating from the bench are soon to be seeing a mass uprising of the American people.
Obviously they haven't heard of the French Revolution, because the cake is getting to expensive to buy.
ΜΟΛΩΝ ΛΑΒE
Democrats, those RINO Republicans, and those legislating from the bench are soon to be seeing a mass uprising of the American people.
How will they be getting to the uprising staging area? Not driving. Bicycles maybe.
I’m assuming the mass uprising will have a staging area and that the proper permits have been filed with the proper authorities. An adequate number of port-o-potties would also be nice.
The Rats blaming the Republicans is getting old with the American people and the American people know we will have to drill our way out of it. The American people also aren’t buying this 68 million acre crap because if that amount was true the oil companies would be working OT to get the oil out of the ground at $135 a barrel.
Our stupid greedy government has set up the US economy to tank.....watch. It's coming.
Still not one new gasoline refinery built since 1976...only 149 operable at this time with another 196 smaller ones siting idle that can handle other products other than gas and diesel.
No modernization of the smaller sites, no public disclosure as to really owns those sites, neither. Add to that no transparency in the futures markets......yup.....it's coming quickly.
Ree #12: TomGuy, you are dead on your assessments. It’s a sellout of the American people and the GOP simply laughs on the way to the bank.
Next time you're out-and-about, look around. Compare the number of people commuting to work in a car with those who are riding a bike to work. Public sentiment is increasing for drilling in ANWR, the OCS, and all federal lands. Recent polls suggest that 57% favor these policies, and it's rising every month. At $6/gallon, there's going to be a run on tar and feathers in every city across the US.
Alas, the GOP doesn't have the brains to pin this on those who triggered these problems in the first place. I can't even begin to relate how disappointed I am in the GOP's ability to get any message out to the public. The sit there with their collective thumbs up their a$$ and let opportunity after opportunity pass them by. McCain says he favors drilling the OCS, but then yanks back that correct step with a misstep by saying: "But I'll leave it up to the States to determine whether they will permit drilling offshore." The coastal states governors (except Alaska) have reacted saying: "It will take too long and won't make any difference." The translation: "I'll be out of office when the benefits accrue to my people, so why should I care when I can't get the credit?"
IDIOTS! All you have to do is simply announce that you support all drilling everywhere and you'll completely alter speculator expectations and that would be enough to cause the current spot price of oil to drop. But, you refuse to act and yet you wonder why you have a 12% approval rating. Politicians no longer serve the public, they serve only their own self-absorbed interests.
A novel idea.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.