Pelosi on reducing gas prices

[rpm]

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

Yeah, a lot more. Like maybe how we got into this situation in the first place?
I agree this congress has squandered their possibilities. Pelosi may go down as one of the worst Speakers ever, but she has good company with sitting POTUS'.

[Nilsen]

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.....

Good plan.

Our government is considering not opening up new fields too. Its worth even more sitting on the bottom until it reaches 200-250 USD a barrel than pumped even with the fairly high prices we have now.

Our petrolium fund already owns 1% of all traded european companies and 0,5% of all traded stocks on the planet. About 40% the petrolium fund is used on those stocks and the rest are borrowed by other nations, sitting in banks or invested in government bonds.

[Excel1]

you are making norway sound kinda opecish there nilson.

norway could always sell it's $250 a barrel oil to the filthy rich chinese cos if oil hits that price level the wasted western economies will be struggling to afford it. with that in mind, it might be a good idea to convert some of those stocks and bonds in to something of more tangible value like gold and oxen

[Nilsen]

Not a member of opec and the government can't decide how much to pump from excisting fields because that is up to the companies drilling there that has leased the rights to do so. They might however reduce or stop giving new drilling rights.

Good point about the economies. They will however adapt like they always do when they have to but its going to be a painful couple of years for sure for those who react too slow or not at all.  Its been done several times and finding alternatives for oil wont remove the demand, only reduce it or perhaps leave it at current levels as new economies continue to demand more whatever happens.

Hehe funny to see one of my neighbours who just bought a suv yet he complaints about the gas prices.  tool

[storch]

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.....

we have a winner

[lazs2]

you guys basing your oil theories on the world running out of oil are being shortsighted.

I believe that there is more oil left than we have used..  vast undiscovered fields.  I also believe that more is being made all the time and the possibility of the arabs running out is tiny at best.

We need to drill offshore and start looking for more oil.   we need to stop using oil to make electricity.

lazs

[Nilsen]

People belive in many things. 

[ZetaNine]

we don't need oil.  once obama is elected...our cars..... and our economy..... will run on smiles, sprinkles, rainbows and sushine.

[Mickey1992]

we need to stop using oil to make electricity.

I agree.  We also need to stop using natural gas to make electricity.

[Ripsnort]

Yeah, a lot more. Like maybe how we got into this situation in the first place?
I agree this congress has squandered their possibilities. Pelosi may go down as one of the worst Speakers ever, but she has good company with sitting POTUS'.

For those playing BBB, the number is 16.

[SpazMan]

you guys basing your oil theories on the world running out of oil are being shortsighted.

I believe that there is more oil left than we have used..  vast undiscovered fields.  I also believe that more is being made all the time and the possibility of the arabs running out is tiny at best.

We need to drill offshore and start looking for more oil.   we need to stop using oil to make electricity.

lazs

I agree, we need to start drilling off shore, in Alaska, and in the Dakota's. It may not give immediate relief but will be long term. In the mean time other energy options like solar and wind power should be used. Just like in manufacturing we need to depend on ourselves and not be held prisoner by other countries.

[john9001]

I'm gong to convert my car to wind power, just think, the faster you go the more power you generate. 

[rabbidrabbit]

I'm gong to convert my car to wind power, just think, the faster you go the more power you generate. 

One could make millions if they could just harness the hot air generated from the o club!

[Charon]

The major impact such a move might have would be to throw some doubt in the overheated markets and start driving down the artificial "fear" that is driving prices higher. Start getting some downward trending knee jerk and herd behavior.

Charon

[midnight Target]

It is amazing to me the "morphing" ability of the republican media machine. Somehow they morphed John Kerry's war service into some kind of pathetic cowardess. They morphed Saddam Hussein into Osama Bin Laden. And now they are morphing the fuel cost crunch into a liberal problem due to lack of production when it is well known that the real issue is speculation and the unwillingness of the former republican congress to pass laws restricting the speculation on oil (see the ENRON loophole).

Mighty morphing republirangers