Mika: Offshore Drilling Wouldn't Lower Gas Prices for Ten Years

NewsBusters ^ | Mark Finkelstein

[governsleastgovernsbest]

Mika Brzezinski might be an Obama backer, but she really should sit down with Hillary Clinton. The woman who turned $1,000 into $100,000 could clue her in to the workings of the commodities markets. Be it cattle or crude oil, the concept's the same: these are "futures" markets in which prices are set on traders' expectations of what conditions will be some time down the road.

Mika's need for urgent remedial help on the matter became evident during the first minutes of today's Morning Joe. Ostensibly fulfilling her news-reading function, Mika veered from the prepared text to inject her own editorializing to the effect that lifting the offshore drilling ban today wouldn't lower gas prices for ten years.

MIKA BRZEZINSKI: Time for a look at some of today's top stories. President Bush is calling on congress to lift its ban on offshore oil drilling. On Monday the president ended a long-standing moratorium on the practice, saying new drilling would ease pressure on fuel prices [going off-script to inject her own views] -- in about ten years. Critics argue the production of gas from the offshore --

View video here.

[Pharmboy]

Yep—she is dumb. Sometimes dumb can be cute, but not in her case. When Barnicle is on with her they have the two stupidest people in broadcasting on at the same time.

[chimera]

Meanwhile they say alternative energy is the solution, but no windmill is gonna power my Yukon!

If anything is going to take ten years (or more) to become available, it is so-called "alternative energy". This country has already spent years and poured billions into R&D for "alternative" energy, and today it still accounts for only a fraction of a percent of our total energy needs.

And how in the world are windmills going to have any effect on the price of transport fuels? Unless there is a large-scale development effort (which there isn't) to go to something like hydrogen or fuel cells or electric substitution, something that can be a transport agent for electricity, there is going to be zero effect of "alternative" fuels on gasoline prices, even after ten years.

[PapaBear3625]

The "10 year" canard we hear is based on statistics from the 1950's. Nowadays, we can get oil up and running much quicker. I seem to remember that the North Slope of Alaska oil was discovered in 1968, and production began in 1977. That's nine years under the most hostile conditions imaginable.

And if you look at the map, the ANWR site is just 80 miles east of the existing Prudhoe Bay site, which means the infrastructure is already in place. The people and drilling equiptment are already close by. The Trans Alaska Pipeline just needs an 80 mile leg constructed to deliver oil from ANWR. I think it would be more like 3 years from go-ahead to the first oil going into the pipeline

[Cletus.D.Yokel]

” The New Yorker put the caricature in question on it’s cover to help the messiah, and it has done nothing but hurt him”

I wouldn’t say that. When the MSM is talking about The Cover!, they are not talking about Obama’s energy policy, or his economic policy or any of his other political thoughts.

[McGruff]

She’s in a MENTAL RECESSION.

[LomanBill]

 

 Zbigniew "Darth" Brzezinski

 

Jimmuh Carter's National Security Advisor,

Creator of Al Queda

and

Obama Foreign Policy Advisor

[Lancey Howard]

Mika: Offshore Drilling Wouldn't Lower Gas Prices for Ten Years

That's what useless morons like Mika were saying ten years ago. I trust she's too stupid to see the irony?

[RightWhale]

How does that work?

[RightWhale]

Wegener’s restructuring announcement has driven the price of NYMEX crude down 6.80 to 138.38 today.

The mere threat of producing electric cars dropped the bottom out of the oil market. Congress has provided their usual ample assistance—none.