Democrats FINALLY cave on domestic drilling

B

Bruxley

New member
Democrats finally caved yesterday on the issue of Domestic drilling in the face of President and Republican pressure. With the Republican leadership taking a contingent of Congress Members to ANWAR to illustrate show that it is not a pristine wilderness as much as a frozen wasteland devoid of wildlife.

MSNBC story:
Video available at CSPAN page near the bottom labeled "House Speaker Rep. Nancy Pelosi (D-CA) Press Conference on Energy (July 10, 2008)"

We are expected to believe they were ALWAYS for domestic oil drilling and that their plan would immediately reduce the cost at the pump. Am I missing something or was their position exactly the opposite LAST WEEK. "Can't drill our way out of this problem", "It would take 5 years to have any effect and even then it would be pennies" sound familiar?

FAR more likely that their now 9% and dropping approval rating along with the Republican trip and relentless news coverage on them standing in the way gave them 'religion' on the matter.

Now without the details available I still suspect some kind of hat trick here especially given they are fast tracking this to be on the floor as soon as next week with the 'take yes for an answer' slogan and that they are trying to make this sound like their own idea but I hope I'm wrong.
 
I'll call it a cave when I see the agreement. Democrats have two problems. First, their constituents are livid over the cost of gas. Second, they grow rich over the largess of environmental groups. Someone has to lose OR giving the appearance of losing. I just don't see a clear cut victory by pro-drillers when so much money is on the table. I fully expect to see some kind of congressional schuck and jive designed to give the appearance of drilling without actually drilling. The oils futures market will be the clearest and best opinion on the reality of increased supply.
 
The question isn't if democrats will cave in, it's just a matter of time.
Has any political organization in history been such spineless lick-spittles as the modern democratic congress?
They make the Vichy French seem like ardent revolutionaries in comparison.
 
They make the Vichy French seem like ardent revolutionaries in comparison.
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LMAO!

What I expect is that the Dems will approve drilling in ANWAR in principle but clog it up with so many requirements that no one will want to drill there. Something like paying an "environmental tax" on each barrel of crude, plus having to file an EIR (Enviro-Impact Report) for each drill site to allow enviro-terrorists to delay the whole thing. Meanwhile, they'll say that development of those reserves is "several years away" (aka over our dead bodies) and in the meanwhile, let's enact our own proposals to for a windfall profits tax, curbing the free-market in oil exchanges and OPEC-bashing legislation.

In the meantime, watch that the Dems will obstruct construction of new refineries and impose "special taxes" on those refineries wanting to expand or modernize.
 
I think anyone who believes that increased domestic drilling will lower prices at the pump is deluded. The Republicans don't want to drill to lower the cost of gas, they want to drill to make more money. I don't think we will ever see gas below $3 per gallon
 
It's not just about oil. This may open the door for other sources(coal, nuclear, solar, oil shale, etc). If we had been able to drill back in the '90s when the reserves were discovered(ANWR, Gulf of Mexico, California offshore)we would have more leverage as far as oil speculation goes. We also would create untold numbers of jobs(taxpayers)and instead of sending billions of dollars to the oil whores in the Middle East we would be keeping our dollars here in the good old USA where they belong.
 
I think anyone who believes that increased domestic drilling will lower prices at the pump is deluded.
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Um, why?
The Republicans don't want to drill to lower the cost of gas, they want to drill to make more money.
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Sounds good to me. Money generated in the US is a lot better than that generated elsewhere. Well, for US types, anyway.
I don't think we will ever see gas below $3 per gallon
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Perhaps, but it's better than $12 per gallon.
 
I think anyone who believes that increased domestic drilling will lower prices at the pump is deluded.
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Because there is no oil shortage now, only manipulation of the market. If there was a shortage, you wouldn't find gasoline in every station. When was the last time a gas station had a "No Gas" sign in front of it? About 1977.

No matter what the supply is, if market manipulation continues (and it should in a free market system), then the price will remain stable or increase.

Personally I don't think gas is expensive enough. Demand has only decreased minimally as the price has increased. Why would an oil company voluntarily reduce the price of gasoline if people are willing to pay $4 a gallon for it.

Sounds good to me. Money generated in the US is a lot better than that generated elsewhere. Well, for US types, anyway.
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I agree. It is better for the profits to go to a US corporation than to some Arab sheik who covertly supports Al qaeda. My only concern is that by burning up our domestic supply under the fallacy that it will lower prices now, we may end without domestic supply in the future when we made need it more. Having a supply of domestic oil is similar to having a supply of ammo. You don't shoot up your ammo cache at targets for fun. Its saved for a rainy day.
 
I don't believe it will even be drilled to any particular level, even if the oil companies are granted the land. They have 80 million acres over 10000 sites that are left there. Of course owning them, they can rent out that land for money, but not bother drilling it. What drilling will occur is going to take about 20 years to set up any oil drilling if they find a patch big enough and easy enough to drill. This might be fruitful for about a year or so and is then by U.S. law sold on the international market where there is no oversight in the trading and the money stays in offshore accounts. In the end we may see about 2 cents per gallon drop in gasoline sometime by 2020.

In the end it not going to be that helpful but works as a great distraction from other issues and can be pussyfooted around while nothing really gets done and makes us feel better.
 
Unregistered quote " Personally I don't think gas is expensive enough. Demand has only decreased minimally as the price has increased. Why would an oil company voluntarily reduce the price of gasoline if people are willing to pay $4 a gallon for it.
"

Holy crap what the hell are you thinking!!!?!?!?? You sound a tad bit like Obama calling for 6$ a gallon gas.
 
No I am not calling for $6 a gallon gas. I am not calling for anything but market-driven pricing. If the oil companies can sell all the gas they are making for $4 a gallon, there is no reason to decrease the price. In fact, they should raise the price to the point at which profits are maximized. They need to keep prices at the maximum point that also allows for maximum demand.
 
The oil companies are already rolling around in their profits like pigs in mud. The CEO of SHELL makes 750 million a year. I think i figured it at $23 a second. thats assinine.
The Saudis made a giant indoor downhill ski mountain, in the damn desert.
I see fat rich oil executives all the time. I work in aviation. They blow money left an right, no problem, they dont care. The call a 35 year old piece of crap airplane they use to go on vacation 1 time a year to be "a business expense" even if it cost them a million a year. They right it off on taxes and pocket the savings. Im glad tax year is over because these guys make us work overtime t so they can "make the tax deadline" its stupid.
I pay almost 10% of my income to get to and from work. refreckindiculus
 
Because there is no oil shortage now
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Shortages result from price controls. When the price system operates, there are no shortages. Prices go up. Usually, this makes demand go down. When it doesn't, prices keep going up. Sound familiar?


There's lots of oil. But there's lots of risk. The biggest risk is selling oil too cheap now and running out of it before you've gotten maximum value. Producers don't want to increase production just to lower prices. It wouldn't do them any good to sell a lot of oil now for a lower price just to run out.


My guess is the Saudis specifically know that they are close to the end of their oil. They have no reason to increase production and lower prices.
 
I don't care what anyone says. The major US oil companies are NOWHERE near drilling on even 25% of the leases they 'own'. When they have exhausted 75%, I might get behind more drilling.

As it stands right now, it's just another way for big oil to claim a victory that won't do a damn thing for the american people. We're going to lose wildlife habitat, destroy watersheds and game reserves, and have even more roads running into previously unaccessible areas.

It's all crap. Crap for big oil to benefit from behind the smoke and mirrors of our elected officials.
 
From what I have seen, the biggest reason for increased prices is an increase in world wide demand.
China is adding a MILLION cars a year to their streets. This rate is expected to continue, as they are pushing modernization at any cost. Gasoline prices there are subsidized to make this possible.
I don't see us drilling our way out of this under any circumstances. There just isn't enough oil there to make a difference.
Yes, I am in favor of $4 gas. To be gradually taxed up to a price of $6 or more dollars a gallon. It's still less than a lot of the rest of the world pays.
Why? to make alternatives possible. To make exploration and drilling here possible. The oil companies aren't drilling on the leases they have. One study suggested that it would be doubtful that any oil company would drill in ANWAR at the prices at the time. Maybe they are high enough now. I am concerned about ANWAR because of the bering sea, where about 40% of the worlds fishery is. Maybe its far enough away not to matter. I just wonder how much will be shipped by tanker through there to china. And I feel like its our last great reserve. I would like to keep it as long as possible. Higher prices make coal to diesel conversion possible. Natural gas use more likely. Solar and wind more competitive. Anything to stop us from slowly shipping all of our assets overseas. What is going on is the largest transfer of wealth in history. We are importing 70% of our needs. It has to stop. We need the equivalent of the cold war, or the space race, as a development project to stop it.

Is all this gonna hurt? Yes. But we are in the moral equivalent of a war.

As far as refineries go, I'm sorry, environmental regs are not stopping that. I live in a city where two refineries were closed, and oil reps admitted that it was done to reduce capacity. They were older and smaller, but I bet they would come in handy right now. Any refinery shutdown in this country drives up prices dramatically, as production capacity is that tight. And it being that tight was deliberately contrived.
I think this administration is taking the toughest stance possible on ANWAR as Cheney's final gift to big oil.
I will always wonder what happened in his private energy policy meeting. Why the big secret?
Retreating under my tin foil hat.......
 
Yes, I am in favor of $4 gas. To be gradually taxed up to a price of $6 or more dollars a gallon. It's still less than a lot of the rest of the world pays.
Why? to make alternatives possible.
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I am OK with $6 a gallon gas, but I don't support taxation to artificially inflate the price to that level. If the free market and speculators drive the price up that high, and people are willing to pay that much, then I would say that is fair. But just adding $2 a gallon tax for some politician to waste is not a good deal.
 
If we had put as much thought into alternitive energy as we have into fussing and fighting about oil we would be well on our way to not having to worry about this crap anymore.
 
6 Bucks? My family of 4 survives on 18k-22k per year... $800 rent, $150 lights, $100 phone/cable/internet combo pack, -$200 groceries... where to pay for this gas?
Than you take into consideration the 25% increase in food prices to cover producing and shipping costs. I foresee 4 hungry people walking...
Increasing the prices will not help my family one bit. Increasing prices will not allow me to implement some alternative fuel source. On the paltry income we also will not be able to replace our gas burning car for some new auto running on hydrogen or nuclear. If we were a nation of 100% money sucking gas wasting large SUV driving snobs... maybe but this nation is not. Even those relying on mass transit to commute will be in a bind as the bus/train/subway fares will skyrocket.
Drill the hell out of anwar and the atlantic and gulf and gas can go down to under 2 bucks but it will take some work to change the speculative market.
Brent
 
Damn right hogdog!!
I agree you whackos ok with 6$ gas have lost your mind. I liken you to Obama/ This is America/ I am ok with .89 cent gas. I ask for nothing less. There is no reason for even $3 gas. retarded the money these oil guys are getting is assinine. They are paying roughnecks upwards of 45 $ an hour around here. Oh and they get 1100$ a month per diem. No wonder the aviation business is loosing people to petroleum business. Here in central Texas, the pumpjacks are pumping away, nearly all of them. To bad it dont help the little guys. My electric billwas $400 this month. I have a Small house which is well insulated and it has been a bit warm in here for the last few weeks. Wheres the room for the 6$ gas, along with the 40% surge in groceries, hell, my telephone bill even went up. the only reason i have a telephone is for DSL>
 
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