Yesterday the gang of buffoons we know as Congress passed a bill to sue OPEC over oil prices. These people have no grasp of basic economics. According to the sponsor of the legislation, Rep. Steve Kagen, D-Wisconsin, Americans are "at the mercy" of OPEC. Well, of course we are, you moron! When you won't allow companies to drill for oil here in the US we have to look to other countries to supply our oil. Duh!
According to the White House this sort of action "would likely spur retaliatory action against American interests in those countries and lead to a reduction in oil available to U.S. refiners." That's code for "expect gas lines soon".
Today, to show how much they feel your pain, Congress summoned oil company executives to testify yet again. They put on their little dog and pony show, and again the oil execs tried to explain basic economic principles to these imbeciles. If I weren't so mad I would have laughed it was so ridiculous. If you can stomach it click here for more on this story.
If Congress really cared about gas prices, they would lift the moratorium on drilling for oil here in the US. According to reports, the Bakken Formation could have 3 to 4.3 billion barrels of "undiscovered, technically recoverable oil". Wouldn't it be refreshing to hear them talking about how the oil companies can use their profits to drill for oil and build refineries right here at home? Don't hold your breath.
12 comments:
This is my take on the whole "oil" thing. To ensure our future "superpower" status in the world, we (our brilliant gov't) are going to sit on our oil until the very last possible moment. When all the other oil is gone, we'll sell ours to the rest of the world for $500 a barrel or whatever price we can squeeze out of them. Unfortunately by then no one will care about oil because everyone else will be using their alternative fuels hydrogen, alcohol ect.. So in the mean time the rest of us have to suffer on the big gamble. I'm baffled by this country's inability to move forward.
Watched BBC America last night in an attempt to get some news. Their coverage of the energy situation and resulting "dog and pony show" called congress was refreshingly different. They did not show one socialist congressman spouting their tripe. They did however show an oil executive talking about how demand in a tight market can drive up prices with only slight deviations in use.
Somewhere, someone in the legislature must know the end product of this strategy is chaos.
THIS IS JUST MORE PROOF THAT THERE IS ABSOLUTELY NO HOPE FOR THIS COUNTRY ANYMORE. ALSO, JUST FOR IRONY, IRECEIVED A MONEY REQUEST FROM THE RNC PROMISING THE "NEW" GOP TO BE COMPETITIVE, ON THE SAME DAY THAT MOST OF THE GOP ON CAPITOL HILL VOTED IN FAVOR OF THAT HORRID AGRICULTURE LAW. NICE TIMING. THIS IS THE NEW, IMPROVED GOP. GOD HELP US!
My hope is that beyond '08 people will realize the GOP no longer represents conservatives, and that we can form a new movement from scratch. One based on the principles of the Founding Fathers, with leadership that has the cahones to stand up for us.
A new movement from scratch is a good idea. It's time for a new party to get involved. One that goes back to the basics, thins out all the repetetive laws and destructive policies. A party without personal agendas and special interests.
Sign me up!
I'm in!
I keep receiving letters from McCain and the RNC asking for money. I just through them away.
Send them a link to your blog.
I would but they are clueless. I dont' think they feel like they need conservatives anymore.
If McCain dictates the direction of the party, there will be conservative in the platform. In the face of today's news and your post-- he favors Cap and Trade. Nothing can dissuade him from his path. Rock on, Old Man, I salute your demise.
Destroy the economy to save the planet. Great plan.
I watched CNBC Friday am. One of the terms used frequently was "demand destruction." That in reference to the condition in which demand is reduced. The comments seemed to confirm that regardless of our demand , India and China will take the excess we leave behind.
FYI, they are begging to have gas lines in China. Could get ugly.
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