Irrational On Oil
Posted May 13th, 2008 by Da King
Senate Majority Leader Harry Reid (D-NV) made the following statement today after the U.S. Senate passed a provision by a 97-1 bipartisan vote to suspend filling the 97-percent-full Strategic Petroleum Reserve (SPR). This move will add 77,000 barrels of additional oil to the market daily:
“Democrats today led the charge against one of the root causes of skyrocketing oil and gas prices. Instead of hiding barrels of oil in the nearly full Strategic Petroleum Reserve, we want to put them on the market to increase supply and lower prices. It is a good first step, but with oil and gas prices continuing to break record highs every day, much more needs to be done. Republicans must abandon their shortsighted strategy of ‘drill, drill, drill’ and join us to pass the rest of the Democratic energy bill that puts consumers first, forces Big Oil to pay its fair share and invests in renewable energy.”
This schizophrenic statement by Harry Reid both acknowledges the laws of supply/demand and ignores them. First Reid congratulates himself and Democrats for adding oil to the market to "increase supply and lower prices" (while ignoring the fact that Republicans unanimously agreed), but then he turns around and excoriates Republicans for what he call their "shortsighted strategy of drill, drill, drill".
I'm not sure where Harry Reid thinks the world oil supply comes from, but I'm almost certain that it comes from that "strategy of drill, drill, drill". Perhaps Reid thinks it comes from the Oil Fairy, I can't be sure, but whatever he's thinking, he's out to lunch.
And now for the rest of the story.
Also today, Republican Senators Mitch McConnell (R-KY) and Pete Domenici (R-NM) put forth another provision for a vote, one that would have opened up a small part of the Arctic National Wildlife Refuge (ANWR) for drilling and expanded offshore oil drilling as well. ANWR alone is estimated to produce 1,000,000 barrels of oil per day (for Democrats reading this, 1,000,000 barrels per day is a LOT MORE than the 77,000 that Harry Reid was patting himself on the back for). The Democrats in the Senate shot the McConnell/Domenici proposal down in flames. The vote was 56-42 against, with 41 of the 42 agreeing to the proposal being Republicans. Democrats were almost unanimously opposed, including Harry Reid and that new kind of politician, the post-partisan uniter (LOL), Barack Obama.
Is there any logical reason for Democrats to think adding 77,000 barrels of oil daily to our supply is great and will lower gas prices, but adding millions of barrels daily is no good ?……..Anyone ?…….Anyone ?……Bueller ?
Harry Reid and friends are flat out insane, and they are no friend at all to the american consumer.
Or maybe they aren't insane, but they are putting partisan politics light years ahead of the american people. That is the more likely scenario, because that is how Harry Reid operates every single day of his miserable lying life.
One of the Democrats (I think it was Dorgan) said today on the Senate floor that getting oil from ANWR was 10 years away even if it was approved, so it wasn't really any help. I kept waiting for a bolt of lightning to come down and strike the man dead on the spot for having the nerve to make that statement, since the Democrats have been shooting down ANWR drilling since about 1988 (if memory serves). We could be getting that million barrels of oil per day (actually much more) RIGHT NOW if not for the obstruction of the Dems. That would be a million barrels of oil we didn't have to import from Iran or Venezuela every day. That would be a lot of money that would be staying right here in the USA instead of going to support regimes who hate us.
Democrats, friends to the little guy (retch). Maybe they mean the little guy who runs Iran, Ahmadinejad.
And just for the record, the USA consumes over 20 million barrels of oil per day, with about 12 million of that imported. Harry Reid and his Dem buddies are trying to tell you that another 77,000 barrels is going to drop the gas price. Are any of you naive enough to believe that ? Harry sure thinks you are.
Why do we keep letting these clowns get away with this stuff ? The Dems in Congress today made a show of doing something rather than ACTUALLY doing something about oil, and then they patted themselves on the back for lying to the american public about the whole thing. THAT is politics as usual. I'd like to tell you what I was feeling when I saw Barack Obama on the Senate floor smiling and shaking hands with his friends right after he voted with the Dems to shoot down expanded domestic oil production, but I have a no-profanity rule on this blog, so I'll just stop now.
We are in deep you-kinow-what.
May 13th, 2008 at 10:48 pm
I have listened to that man twice on talk shows in which he is promoting his book. It is scary to think that that man is actualy the head honcho in the US Senate.
May 14th, 2008 at 1:51 am
We have reached a Peak Oil condition worldwide. Fields have tapped the Easy To get Oil and now the daily production requires extra costs to force the Oil to be extractable. Daily production is decreasing while demand is increasing worldwide.
This is not a political issue and must not be. It is and must be a Survival issue. We have untapped fields here that must be drilled and put into production while we develop, perfect, and begin mass production of alternative energy sources. Today there is much alternative energy technology that is being starved for investment capitalization. Survival dictates that we must invest aggressively in alternative energy and energy saving technologies.
We have the technology. Please everyone, Invest and Demand from our politicians that they Not make this a political issue. Demand that survival be omnipotent.
May 14th, 2008 at 7:50 am
What a glorious day for Harry Reid. After all the failed attempts to defund our troops, he can lay claim to some sort of victory. Since the Doomocrats would like to take sole responsibility for this bipartisan effort, they must also be willing to take the wrap when these 77,000 barrels fail to put a dent in the $4 gallon.
**I'm not sure where Harry Reid thinks the world oil supply comes from, but I'm almost certain that it comes from that "strategy of drill, drill, drill". Perhaps Reid thinks it comes from the Oil Fairy, I can't be sure, but whatever he's thinking, he's out to lunch**
Oil fairy isn't too far-fetched. The naive sheep have been duped into perceiving the Iraq war was waged for the sake of oil. All of our enlisted are issued a 55 gallon drum, they are instructed to fill the drum at any oil "pond", and then they must deliver it to the white house lawn. If necessary, they may also fill their canteens. There are idiots that still do not understand OPEC and how oil is purchased on the open market. They are under the impression that, when one occupies an oil-rich nation, "ownership" defaults to the occupiers. While such dopes roam the earth, the media and politicians are free to spin anything to their favor.
Let them claim this victory, I'm with you on this one King.
May 14th, 2008 at 8:33 am
OPEC has and most likely always will control the price of crude oil. Here we need more and more effieient refining capacity as well as more wells. Think BAKKEN !!!
May 14th, 2008 at 10:16 am
Go nuclear!
Oops, I forgot. We can't. Because the Dimocrats are beholding to the eco-wack jobs, we're not allowed …. nor is America allowed to develope its natural resources like oil and natural gas.
Gee, it's almost as if the Dims want the price of gasoline and energy to soar higher. Say, maybe they do.
May 14th, 2008 at 12:31 pm
ANWR isnt gonna happen. I hate to say it, but it dont see it ever passing.
May 14th, 2008 at 12:39 pm
BAKKEN must be aggressively developed. It represents our best hope for Survival. Wake Up America !!!
May 14th, 2008 at 4:34 pm
The only reason I believe Democrats brought this bill up was to make a gesture in the direction of the scamming, greedy futures speculators who are PRIMARILY responsible for the current high price of crude. The market is NOT working. It's bubbling, just like it did with toilet paper mortgages, and dot.com frenzies. Perhaps, and I'm only saying perhaps, a federal government gesture would send a message that they are prepared to intervene if the greedy pigs don't bring the price down.
All sides believe in the basic fundamental of supply and demand. What conservatives won't acknowledge is market manipulation, which happens continually in our current Ponzi scheme-based economy. The oil market is being manipulated. All are suffering for the sake of the enrichment of a few greedy, undeserving, blankety, blanks.
In 2002 Oil was $25….now it's $125. Five times more. Are you conservative screechers telling me that world demand has risen 500 percent in five and a half years?
It should be full testicles to the wall alternative sources.
May 14th, 2008 at 5:16 pm
Red, the price of crude oil was $60 per barrel in early January 2007 and today it is $125. Now that is more than double in just over a year. What major event took place in the first week of January 2007. I think that was when "promise them the world" Nancy Pelosi and Dirty Harry Reid took over the two houses of Congress. What has either of them done to alleviate the crude price? Nancy did promise in campaign 2006 that she would lower crude prices if her group took over the House. I don't remember her doing anything other than worrying about her first 100 hours that took about 4 months to get finished.
Red, I think there is way too much politics being played with oil and I wonder if the people will remain stupid enough in November to leave the Dems in control of Congress. What say you, Red?
May 15th, 2008 at 5:54 am
It's a pretty weak message, Reverend. What's it supposed to convey?
May 15th, 2008 at 7:26 am
Tepid, I admit…..and Reid has disappointed me many times before….so I'm not carrying his water.
roy: I wanted to give you a heads up on Democats in Congress this fall. The Democrats have a reasonable chance to capture 70 GOP seats in the House. They'll probably win 40 of those, making the matchup something like 276-159. That's not veto proof, but it's headed in the right direction. The Louisiana Democratic win, by 8% Tuesday, in a special election, in a red GOP district, spells doom this fall for the GOP.
The Senate will be more interesting. I look for the Democrats to gain 5-7 more Senate seats.
Point being, and you are aware of this I'm sure, the Gingrich, DeLay, Rove, Bush/Cheney GOP has crashed and burned. The GOP may never recover. The GOP may wind up being a southern states only minority fringe party, which is all they have been since the 60's anyway.
There are many good patriotic Americans who have voted Republican over the years….and they'll find their way back home to the Democratic party eventually. The party of the people.
May 15th, 2008 at 10:46 am
Rev says,
"In 2002 Oil was $25….now it's $125. Five times more. Are you conservative screechers telling me that world demand has risen 500 percent in five and a half years?
It should be full testicles to the wall alternative sources".
—
I agree, we should be "full testicles to the wall" on alternative energy sources. We also should be (and should have been for many years now) full testicles to the wall on increased domestic oil sources. The Dems are almost singularly to blame for that lack of initiative, as well as blocking several alternate energy sources, including coal and nuclear. If the Dems gain the veto-proof majority in november, which is a very real possibility, expect energy prices to skyrocket much, much further, for not only will the Dems continue the policies that have driven up the cost of oil, natural gas, and other sources of energy, they will also impose oppressive new energy policies like the Climate Act of 2007 that will drive up the cost of energy much further. If one didn't know better, one would think the Dems were TRYING to destroy our economy. Hmmm.
This brings me to the first part of your statement about oil speculators. What those speculators are doing is engaging in, no surprise, SPECULATION. When they see rising oil demand, static and unreliable supplies, tension and unrest in OPEC countries, an anti-oil american energy policy, etc, etc, then their speculative crystal balls tell them that oil is going to be one pretty scarce and valuable commodity in the future. That drives up the price. That is how the market works. That is pretty much always how the market works. Demand doesn't have to rise 500% for there to be a 500% increase in the price. All that has to happen is that the threat of demand exceeding supply has to exist. That is a very real threat at this point, and the Harry Reids of the world have been instrumental in bringing that exact scenario about.
With that being said, it is still possible for those speculators to manipulate the oil market. I have no denial mechanism in place due to my being what you call a "conservative screecher" (a name-call designed to avoid the facts of the matter by demonizing your opponent). Congress has investigated many times through the years, and has never come up with much of anything on those so-called price gougers. I suspect they won't come up with much of anything with a new investigation either. Besides, what do you want them to do, eliminate the free market ? 75% of the price of oil comes from the suppliers, basically OPEC. Only 18% is due to the shipping, refining, and infrastructure the oil companies supply. Dumb Dems like Barack Osama are trying to raise taxes on the oil companies to take away their profits (and insure energy prices increase even fricking more). It's just brain dead policy from the Dems all the way around.
And in the end, the speculators are immaterial if america pursues the correct energy course. The Dems have been impeding that march for decades now. Solar and wind technology are nice marginal technologies, but they aren't going to revolutionize the energy world. I'm not too keen on going back to 19th century existence just so a caribou and a polar bear can have an easier life, so it's imperative that the Democrats inane anti-growth energy policies are ripped to shreds and deposited in the dustbin of history, and this country starts doing what is necessary for it's survival and a humane standard of living for it's people. Enough with the left-wing stupidity already. It's way past time to wake up, america.
May 16th, 2008 at 2:21 am
It's time for Wild Cat drilling to begin. How about it, All you wild and crazy guys that can't find jobs, Go to ANWAR and start drilling. Surely Obama and Pelosi won't have the Balls to shoot you for it, Lease yourselves to the Oil Companies and potentailly get rich in the process. Establish an agressive and well armed perimeter patrol and go to work. I'm guessing you will all become Real American Hero's !!!
May 16th, 2008 at 8:09 am
Rev: The GOP may never recover. The GOP may wind up being a southern states only minority fringe party, which is all they have been since the 60's anyway.
With that said, I'm starting to hope the Republican party does lose many seats this election. It may be the only message that will resonate through their heads. Little by little, I've watched the neo-cons and social-conservatives lure this party into embarassment. Should the senate, congress, and presidency all be controlled by liberals, they would be at the mercy of the public and also lacking their accustomed scapegoats. Let them set the nation on fire for 4 years and a re-committed Republican party would be a much welcomed sight. Maybe Newt is the one to lead the restructuring, once again.
Despite this debacle, I'm still not willing to sit home and hand the supreme court over to radical judges. Especially with the Adam & Steve vote in the California courts. I'm not sure what sort of picks McCain would have in mind, but we can all be certain that Obama would appoint judicial activists. Kind of ironic when the proclaimed "party of the people" continually short-circuits the consensus through the courts.
May 16th, 2008 at 10:33 am
King,
Sorry to say, I'll be absent for a while.
Higher priorities call.
Keep the Dims in line and keep countering their socialistic propaganda with facts & logic.
And like the great American Gen. Douglas MacArthur said,
"I'll be back."
May 16th, 2008 at 3:43 pm
Mr. Ghost,
What will we do without you? By the way, you have kept your streak of being wrong alive. MacArthur said, "I shall return", it was the Terminator who said "I'll be back".
May 17th, 2008 at 7:54 am
Alex,
I pretty much have the same thoughts as you do regarding the Republican party. As I heard one talking head, a black Republican, say on television yesterday, "The Republicans talked the talk, but they didn't walk the walk". That's how I feel about them, and I think they need to purge some elements (the neocons and social conservatives you mentioned) and return to really being a low tax, limited government, liberty party (that's my Libertarian nature talking, but it's also smart policy for the future). A few years of liberal control of government in this country, damaging though it would be, should provide a golden opportunity for a Republican resurgence should the Repubs follow the right course.
I apologize for basically just repeating everything you said
May 17th, 2008 at 7:55 am
Vince,
What could possibly be a higher priority than this blog ???
Just kidding. See you when you get back. Hope all is well.
May 17th, 2008 at 9:13 am
http://www.youtube.com/watch?v=R7mRSI8yWwg
King, here is a wonderful example of Harry Reid in defense mode and not knowing enough to defend what he says. He is the leader of the United States?????
May 17th, 2008 at 9:53 am
Here is a very apt description of Harry Reid by Dennis Miller. I normally don't care for Miller but his description of Reid is so true and down to earth that it is hard to pass this one up.
http://www.youtube.com/watch?v=miXAZj-tcGI&feature=related
May 17th, 2008 at 4:35 pm
Standing ovation for Dennis Miller !
Harry Reid is the biggest butthole in american politics. He NEVER has anything useful to say, and he ALWAYS is full of partisan dung. He's like Howard Dean without the charisma.
May 17th, 2008 at 7:20 pm
***He's like Howard Dean without the charisma.***
That is the shortest and probably the best description of Dirty Harry I have ever seen. I wonder how he will do in the next election. I am sure that his constituents have finally seen him for what he is. Well, I hope they have.
May 18th, 2008 at 9:56 am
Harry is also as corrupt as they come, having directed millions of bucks into the pockets of his family and friends. Maybe in Las Vegas they look the other way at that stuff, I don't know. If the Nevada voters have been paying attention, Dirty Harry should be bounced, but it probably won't happen. If Harry was a Republican, his corruption alone would have gotten him booted years ago.
May 20th, 2008 at 10:56 am
You mean if Reid was, like, Karl Rove?
May 21st, 2008 at 4:49 am
Karl Rove wasn't in Congress last time I checked. Or in any government post.
But I was thinking more, like, Duke Cunningham. You know, like, somebody who actually did something wrong, like Reid, Jefferson, Kennedy, Frank, Hastings, Clinton, Murtha, etc.