Posted on 02/22/2012 1:09:15 PM PST by Sub-Driver
Pelosi Statement on Rising Gas Prices February 22, 2012
Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement today on the rising gas prices across the country:
“Independent reports confirm that speculators are driving up the cost of oil, hurting consumers and potentially damaging the economic recovery. Wall Street profiteering, not oil shortages, is the cause of the price spike. In fact, U.S. oil production is at its highest level since 2003, and millions of acres have been cleared for additional development.
“We need to take strong action to protect consumers from this speculation. Unfortunately, Republicans have chosen to protect the interests of Wall Street speculators and oil companies instead of the interests of working Americans by obstructing the agencies with the responsibility of enforcing consumer protection laws. They have also repeatedly opposed our efforts to end billions of dollars in outdated taxpayer subsidies for oil companies enjoying record profits.
“We support efforts by the Obama Administration to expand domestic energy resources, including natural gas and renewable sources like wind and solar that create jobs in America and will end our dangerous dependence on foreign energy supplies. This can be achieved because today, the United States currently has more oil and gas rigs at work than the rest of the world combined, and imports of foreign oil have decreased.
“We call on the Republican leadership to act on behalf of American consumers and join our efforts to crack down on speculators who care more about their profits than the price at the pump even if these spikes harm the American consumer and our economy.”
Pelosi’s wealth grows by 62 percent.
House Minority Leader Nancy Pelosi (D-Calif.) saw her net worth rise 62 percent last year, cementing her status as one of the wealthiest members of Congress. Pelosi was worth at least $35.2 million in the 2010 calendar year, according to a financial disclosure report released Wednesday [6/15/2011]. She reported a minimum of $43.4 million in assets and about $8.2 milion in liabilities.
Reality check.
Petroleum imported from other countries, must be paid for in US dollars. When the value of the dollar is FALLING in relation to other currencies, this makes the dollar price of foreign petroleum HIGHER in relation to its value in other currencies.
Petroleum operations in foreign countries purchase cheap dollars, with their more valuable (and stable) currency, buy the oil, all the while bidding AGAINST US interests, then turn around and distribute the petroleum in their own countries at a real price LOWER than US citizens pay within our own country. While much of this advantage is used up by the proportionately higher taxes assessed in those countries, they are operating on a much wider margin in other countries as compared to the US domestic market. Wider margins=greater profit, and business interests follow profit, regardless of where it leads.
Oil produced within our own country, is not subject to currency exchange rates, and what you pay for domestic oil, is what you get. This may seem to be a somewhat arcane point, but bear with me. The more oil extracted and refined in this country, available for consumption here, the less we have to compete on the international market, and the more we are insulated from the effects of the falling value of the dollar in relation to other currencies.
The wellhead price of crude oil in North Dakota, for petroleum extracted from the Bakken formation, is about $60 per barrel, about half of Brent light crude, a similar grade tht is transported worldwide. The reason for the difference? Transportation costs from North Dakota to the refineries is so much higher because no adequate pipeline transport system now exists in many parts of this oil patch, and practically everything has to go by tank cars or truck transport.
And why is there no adequate transport system? Simple, the environmentalists have effectively so choked the application and licensing program with dictated delays, that it can take several years to actually make an operative system into a profitable enterprise.
And without profits, the system dies, withered on the vine.
Drill, baby, drill works, but only if it is allowed to proceed. And this regime now in the White Hut has no interest in allowing much of anything to proceed.
This is very touchy. When Oil Companies make a profit, their stock holders benefit. Who are the stock holders? Lots of us are. Our retirement plans are invested in oil companies. Mutual funds are invested in oil companies. So who wants to see the oil companies lose money? Oil goes down our portfolios go down too. Maybe oil companies should be nationalized. How much is a gallon of gas in Mexico compared to us and EU? I guess I’m some kind of a Socialist Conservative? Rhetorically speaking on all points.
April 28, 2011 - Did you know that the Obama Administration is subsidizing the oil industry in Brazil? Yep, that’s right. This, of course, is with the full knowledge and consent of House Squeaker Nancy Pelosi.
Obama: Drill, Brazil, Drill!
http://news.investors.com/article/566719/201103211908/obama-drill-brazil-drill.htm
Yet there was Pelosi this morning, giving the old Lefty line about ending subsidies to Big Oil. (Translation: American Big Oil.)
http://rogersparkbench.blogspot.com/2011/04/pelosis-big-oil-lies.html
"Somehow we have to figure out how to boost the price of gasoline to the levels in Europe" ($10 the gallon), Mr. Chu said in an interview with The Wall Street Journal.
You posted this on June 10th 2008.
Posted on Tuesday, June 10, 2008 6:12:49 PM by Sub-Driver Press Releases Contact: Brendan Daly/Nadeam Elshami 202-226-7616 For Immediate Release 06/10/2008 Pelosi Statement on Senate Republicans Blocking Legislation to Lower Gas Prices, Invest in Renewables
Washington, D.C. – House Speaker Nancy Pelosi issued the following statement today in response to Senate Republicans blocking consideration of the Consumer-First Energy Act and the Renewable Energy and Job Creation Act of 2008:
“Senate Republicans have once again shown themselves to be unwilling to break free of the costly, failed Bush energy policies of the past. They have again adopted President Bush’s ‘drill and veto’ policy that is driving up the price of oil, diesel, and gasoline and leaving us dangerously reliant on Middle East oil.
“President Bush, Vice President Cheney, and Senate Republicans have shown no leadership on energy issues for seven years, which is why we face a growing energy crisis. If Republicans will not lead us to a cleaner, more independent energy future for America then they should at least get out of the way.
“The House will soon put forward new, innovative legislation to help tackle high energy costs and make us more energy independent.”
So it is always the Republicans fault.
The House's legislation to tackle energy costs was apparently a giant failure under Democrat control of the House and Senate and Executive 2009 to 2011.
Those rascally Republicans again I guess.
And now, Ms Pelosi, being one of the 99%, finds it is Wall Street that is causing rising gas prices...... and those naughty Republicans again, even though they do not control the Senate and Executive are once again blocking any attempt to lower energy costs.
The woman is really a piece of dung. And the voters that elect her are just stupid as they come.
She's nothing more than a demagogue who offers no solutions other than failed policies, more wasteful spending and like a broken record can only blame Republicans.
I find her brand of politics the most distasteful of all and it's her partisan hackery that leads ever day to a less successful and weaker America.
She is a failure. Democrat policies are failures and I hope someday Americans wake up to this fact before they destroy their nation and their freedoms.
You are a tiresome old fool Nancy.
Whenever the communists like Pelosi talk these days, all I can think of is George Orwell’s Animal Farm. They simply repeat slogans nonstop in an attempt to drown out any dialogue.
“4 legs good! 2 legs bad! 4 legs good! 2 legs bad!”
Big Oil Democrats
If the Democrats really wanted to cut the profits of Big Oil, they would vote to...increase the supply of oil! Oil company profits are so high because the price of oil is so high. The price is so high because demand is so much higher than supply. Allowing oil companies to drill for more oil will increase supply, which will lower prices, which will lower oil company profits!
Who is really in the pocket of Big Oil here — the party whose policies would reduce oil company profits, or the party whose policies are keeping huge oil reserves confined underground, thus keeping oil companies rolling in record amounts of cash?
http://spectator.org/archives/2008/08/15/big-oil-democrats
These people have no shame.
This is satire, right? Did she really say this? No politician could lie like this and expect not to be called on it.>>>
Let’s see what the RNC answer to this lie. (sound of crickets)
I call her man hands. Her hands really remind me of that Seinfeld episode.
So when prices were low were they not profiteering? At $105/bbl it doesn’t take a speculator to know prices are going to rise.
Pray for America
This is stock material.
I’ll be glad when that b*tch is fossilized.
Speculation actually has a lot to do with oil prices. Lehman Bros had millions in speculative contracts in its vaults when it went under. Oil prices started spiking when the laws regarding commodities trading were changed. Before then, you had to actually be a user of oil (airline, etc)and be able to take delivery.
This has passed the point where they can get away with just talking about it.
If they aren’t going to drill, they will have to conduct some kangaroo trials of commodity traders in order to support their “grrrrreeedy speculators” template.
Someone innocent is going under the bus here, folks.
If you know any commodities traders, tell them now would be the perfect time for that overseas vacation they’ve been planning.
There are two things that you can count on. One, Obama likes Islamic radicals, and two, Obama likes high gas prices. Do the math.
Do speculators always make money and do they always make the prices go up? Are they at all involved in distribution of commodities?
BTW: I have been a lumber speculator in the past so you may want to use more than cherry picked cliches to educate.
Pray for America
IIRC, Nasty has done quite a bit of Wall Street profiteering herself.
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