Pelosi on reducing gas prices

[Tango]

http://www.foxnews.com/story/0,2933,378241,00.html

Seems mighty funny to me that she proposes this since Newt Gringrich has been saying it for a few months now.

I guess after gas hits $5.00 a gallon shes gonna propose drilling in Alaska as though its never been suggested.

[Ripsnort]

http://www.foxnews.com/story/0,2933,378241,00.html

Seems mighty funny to me that she proposes this since Newt Gringrich has been saying it for a few months now.

I guess after gas hits $5.00 a gallon shes gonna propose drilling in Alaska as though its never been suggested.

Single digit congress approval....record....need I say more?

[DREDIOCK]

Well considering we only contain about 2% of the worlds oil supply yet consume 25% of it on the one hand drilling offsore or even in alaska would probably to little to nothing to ease gase prices in the immediate future if at all.

On the other hand we arent allowed to drill for oil off our own coast yet China is drilling for oil 50 miles off our own coast.
I see no reason why. If other countries are doing it anyway. Why we cant. or why we shouldnt drill for oil off our own coast.

Envoronmental concerns? Hogwash.

When we think of environmantal disasters due to oil what is it we think about? Exxon valdez.
not oil rigs.
When katrina hit it damaged some rigs.
Was there an environmental disaster due to oil? No.

We base all our fears on E V. and that happened in large part because of a drunk captain.

Drill for the damn oil rather then let other countries grab it

[Ripsnort]

.

[Toad]

The SPR has 700 million barrels and we use about 20 million a day, right?

Do the math Nancy. Maybe we better save it in case the shirt really hits the fan.

[Captain Virgil Hilts]

It is just a symptom of how Congress (BOTH parties, but liberals mostly) wants to do things. The solution to a budget shortfall is "borrow" from the Social Security fund. And KEEP borrowing. And KEEP borrowing. Now, there's nothing left to borrow, and Social Security is in danger of default.

So the solution to the "oil crisis" is to "borrow" from the strategic reserve. The problem is, soon enough, the strategic reserve is empty. THEN where do you "borrow"? And what happens when the NEXT crisis in the Middle East occurs?

And this is their "energy plan" for the future.

[Fulmar]

It is just a symptom of how Congress (BOTH parties, but liberals mostly) wants to do things. The solution to a budget shortfall is "borrow" from the Social Security fund. And KEEP borrowing. And KEEP borrowing. Now, there's nothing left to borrow, and Social Security is in danger of default.

So the solution to the "oil crisis" is to "borrow" from the strategic reserve. The problem is, soon enough, the strategic reserve is empty. THEN where do you "borrow"? And what happens when the NEXT crisis in the Middle East occurs?

And this is their "energy plan" for the future.

Sounds like the mortgage crisis!

[RedTop]

The woman....is a loon. 

[Captain Virgil Hilts]

Sounds like the mortgage crisis!

Nope. The mortgage crisis was brought on by cheap money (low interest loans) and banks being practically required to make sub prime loans to poor loan risks.

Of course, the mortgage crisis is helping to kill the value of the dollar, which only makes the cost of oil go up.

[Yeager]

Lets not drill any of our oil until we have used up all of Iraq and Saudi Arabia's oil.  Then we can let those heat stroked sand crawlers rot on the backside of the planet while we drill and use our own oil to our advantage.

Maybe they suspect thats what we are doing and thats why they are jacking us while they still can.  Just a thought.....

[rabbidrabbit]

It is just a symptom of how Congress (BOTH parties, but liberals mostly) wants to do things. The solution to a budget shortfall is "borrow" from the Social Security fund. And KEEP borrowing. And KEEP borrowing. Now, there's nothing left to borrow, and Social Security is in danger of default.

So the solution to the "oil crisis" is to "borrow" from the strategic reserve. The problem is, soon enough, the strategic reserve is empty. THEN where do you "borrow"? And what happens when the NEXT crisis in the Middle East occurs?

And this is their "energy plan" for the future.

Perhaps selling from the strategic reserve would increase supply and help the bubble speculation has incurred.  The profits from such selling could be used to fund alternative energy and help prop up the economy.  The vast majority of that reserve was purchased at less than half what it going for now.  If OPEC thought they could not get away with screwing the world they would not be so inclined to try.  Not a solution within itself but a plausible portion of a real energy policy which we still completely lack.

[Reschke]

Of course, the mortgage crisis is helping to kill the value of the dollar, which only makes the cost of oil go up.

You almost got it right there but not quite. Look at the record of Federal Reserve prime interest rate cuts over the last 8 years and you will see who created the USD devaluation and how the USD got devalued against foreign currency...particularly the Euro. When the Fed under Alan Greenspan and the followers on the board continued to push it down in order to create that cheap money for people to borrow they didn't look past the nose on their proverbial face to the time a few years down the road when foreign investment money would not want to purchase items like T-bills in order to take advantage of the typically higher interest rates that the USD got against other foreign currencies.

At any rate with the alleged mortgage crisis it just compounds on top of things such as a perception amongst the commodities market futures traders and the money buyers that things aren't going to get better and you know what. They will not get better for at least another 18 - 24 months.

[DYNAMITE]

I'm confused here... after Katrina when we had a price spike it was because we didn't have the refining capacity and couldn't keep up with the demand... to my knowledge that hasn't changed.   Yet now we need more crude?  How are we going to refine it? 

[DREDIOCK]

It is just a symptom of how Congress (BOTH parties, but liberals mostly) wants to do things. The solution to a budget shortfall is "borrow" from the Social Security fund. And KEEP borrowing. And KEEP borrowing. Now, there's nothing left to borrow, and Social Security is in danger of default.

Not to worry.
If we get a national health care system similar to the way Hillary wanted to do it.
Congress will have a new fund to borrow from

[DREDIOCK]

Lets not drill any of our oil until we have used up all of Iraq and Saudi Arabia's oil.  Then we can let those heat stroked sand crawlers rot on the backside of the planet while we drill and use our own oil to our advantage.

Maybe they suspect thats what we are doing and thats why they are jacking us while they still can.  Just a thought.....

I'd tend to agree for ON SHORE drilling for the same reasons.

But for off shore drilling there is no excuse.
Other countries are already drilling into what should be "our oil"