Washington Post - Oil Shock

#1
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VolByBirth

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#1
This was a pretty interesting article today in the Washington Post. It's full of plenty of information on a topic we discuss often. I had to sign in to read this -- so sorry if this link doesn't work. It's worth reading -- regardless of your politics.

washingtonpost.com
 
#2
#2
Oil goes down for days and gets to 12 week lows and then it shoots up. nationwide gas price gets below 4 dollars a gallon and it shoots up. what do yall think is gonna be the path of it. 150/4 gallon or 100/3.30 gallon
 
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#4
Nancy Pelosi's comments on the Congress not allowing a vote on offshore drilling:

"The president has failed in his economic policy, and now he wants to say, `But for drilling in protected areas offshore, our economy would be thriving and the price of gas would be lower,'" Pelosi said Wednesday. "That hoax is unworthy of the serious debate we must have to relieve the pain of consumers at the pump and to promote energy independence."

Yeah...Its a hoax that offshore drilling will lower the price...I truly despise her.
 
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That is what you do when your ideas not worthy, you shut down conversation on the matter.
 
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OrangeWilly said:
Nancy Pelosi's comments on the Congress not allowing a vote on offshore drilling:

"The president has failed in his economic policy, and now he wants to say, `But for drilling in protected areas offshore, our economy would be thriving and the price of gas would be lower,'" Pelosi said Wednesday. "That hoax is unworthy of the serious debate we must have to relieve the pain of consumers at the pump and to promote energy independence."

Yeah...Its a hoax that offshore drilling will lower the price...I truly despise her.
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She is doing the best thing she knows to get Obama elected. Deny the vote to keep oil prices up. She knows with absolute certainty that too many on her side of the isle would vote for drilling if for no other reason than to satisfy the people that put them in office.
 
#10
#10
volforlife said:
so why arent they allowing a vote?
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Because she knows she is on the opposite side of public opinion and democrats would support drilling. Throw in the fact that the current POTUS is in favor of drilling and he would be able to claim victory. Not to mention Obama is lock step with her and a victory for Bush here would hurt Obama in the polls.
 
#12
#12
If you really want oil prices to drop -- you want the US to wrap Iraq up quickly. This is an oil war (please don't start the terrorist commentary) and if the government can get up and running we stand to directly benefit from the enormous amount of untapped Iraqi oil fields. I think Iraq has only tapped 20% of their fields right now...this is why we are there....we want their oil cheap to keep our economy running smoothly. The issue is that it's taking far longer than expected and we now have to look to drilling offshore.

Be careful what you wish for....offshore drilling combined with resolution in Iraq could cause another set of issues. Yes, we'd have lower prices but tension in the Middle East would quickly rise again.
 
#13
#13
I don't know of any special mechanism that would make Iraqi oil cheap for the US. I know for a fact that the US Navy doesn't operate any oil tankers. Their oil will go on the world market just like everybody else's.

Without drilling, the only sure ways to get oil to drop is to strengthen the US dollar and adjust some of the rules governing speculation.
 
#14
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MG1968 said:
I don't know of any special mechanism that would make Iraqi oil cheap for the US. I know for a fact that the US Navy doesn't operate any oil tankers. Their oil will go on the world market just like everybody else's.

Without drilling, the only sure ways to get oil to drop is to strengthen the US dollar and adjust some of the rules governing speculation.
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I should have been more clear. Iraq has plenty of tapped, but unused oil fields. Their equipment is dated and hasn't been kept up but it could easily be converted. And I think it's fair to say that if the "thought" of drilling offshore dropped oil prices then the realization of tapping Iraq's oil fields would most certainly do so. Supply and demand.
 
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