Drill baby, drill. While we're at it, we oughta BUILD MORE NUKE PLANTS! I'm now in West Virginia, where coal is the primary burn. Our rates are cheap, until Zero gets his hands on them...
Posted on 10/06/2009 5:47:49 PM PDT by Al B.
The British newspaper The Independent reported today that Gulf oil producers were negotiating with Russia, China, Japan and France to replace the dollar in pricing oil with a basket of currencies.[1] According to the Wall Street Journal, Arab oil officials have denied the story, but even the possibility of such a talk weakens the dollar and renews fears about its continued viability as an international reserve currency.[2] In fact, today a United Nations official called for a new global reserve currency to replace the dollar and end our “privilege” to run up huge deficits.[3] We can see the effect of this in the price of gold, which hit a record high today in response to fears about the weakened dollar.[4]
All of this is a result of our out-of-control debt. This is why we need to rein in spending, and this is also why we need energy independence. A weakened dollar means higher commodity prices. This will make it more difficult to pay our bills – including the bill to import oil.
In his book Architects of Ruin, Peter Schweizer points out that the Obama administration is focusing soley on “green energy”, while ignoring our need to develop our domestic conventional energy resources.[5] We’re ignoring the looming crisis caused by our dependence on foreign oil. Because we’re dependent on foreign nations for our oil, we’re also at their mercy if they decide to dump the dollar as their trade currency. We can’t allow ourselves to be so vulnerable to the whims of foreign nations. That’s why we must develop our own domestic supplies of oil and gas.
Though the chant of “Drill, baby, drill” was much derided, it expressed the need to confront this issue head-on before it reaches a crisis point.
Bottom line: let’s stop digging ourselves into debt and start drilling for energy independence.
- Sarah Palin
[1] See http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
[2] See http://online.wsj.com/article/SB125484066563367821.html
[3] See http://www.breitbart.com/article.php?id=CNG.e272eaa74dccc30f21c6ff7638b0f37b.461&show_article=1
[4] See http://news.yahoo.com/s/afp/20091006/ts_afp/commoditiesgoldmetalsprice_20091006144514
[5] See http://www.peterschweizer.com/
The Left does not want to drill because providing energy equals independence and that’s just not in their plans.
She was on the energy independence line WAY before Glenn Beck.
I think he’s been listening to Palin.
DRILL BABY DRILL!!
I meant more on the article in the Independent and the oil sellers going off the dollar. That was his main topic today.
Maybe it’s just a coincidence. Keep in mind, in AK, Beck is on TV at 1PM so she gets to see him much earlier than most do.
He speaks fondly of her, and did one of first interviews, I think. Maybe on radio.
And you’re right. But wait till the “moderates” like McCain/Rudy/Romney etc. start going after her. Her enemies won’t all be as far left as the obammunists are. Then the state controlled media will fall in love with the farthest left pubbie and on and on. The rapidly left-drifting republican boat had better change direction quick or the real right will get it’s own craft.
The Independent reported today that Gulf oil producers were negotiating with Russia, China, Japan and France to replace the dollar in pricing oil with a basket of currencies.Weird how this rumor about the replacement of the US Dollar turns up each time the price of crude slides. What a coinky-dinky!
OPEC Has Already Turned to the Euro...The source for the euro exchange rate is the Federal Reserve, and I have calculated the euro's average exchange rate to the dollar for each year based on daily data.
GoldMoney Alert
February 18, 2004
|
US Imports of Crude oil
|
|||||
|
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
(6)
|
|
Year
|
Quantity (thousands of barrels)
|
Value (thousands of US dollars)
|
Unit price (US dollars)
|
Average daily US$ per € exchange rate
|
Unit price (euros)
|
|
2001 |
3,471,066
|
74,292,894
|
21.40
|
0.8952
|
23.91
|
|
2002
|
3,418,021
|
77,283,329
|
22.61
|
0.9454
|
23.92
|
|
2003
|
3,673,596
|
99,094,675
|
26.97
|
1.1321
|
23.82
|
We can see from column (4) in the above table that in 2001, each barrel of imported crude oil cost $21.40 on average for that year. But by 2003 the average price of a barrel of crude oil had risen 26.0% to $26.97 per barrel. However, the important point is shown in column (6). Note that the price of crude oil in terms of euros is essentially unchanged throughout this 3-year period.
As the dollar has fallen, the dollar price of crude oil has risen. But the euro price of crude oil remains essentially unchanged throughout this 3-year period. It does not seem logical that this result is pure coincidence. It is more likely the result of purposeful design, namely, that OPEC is mindful of the dollar's decline and increases the dollar price of its crude oil by an amount that offsets the loss in purchasing power OPEC's members would otherwise incur. In short, OPEC is protecting its purchasing power as the dollar declines.
Actually, he interviewed her on his tv show several months before she was picked as vp candidate. Due to her great job as gov of Alaska, her fight with GOP corruption in the state, and also, I think, he felt a special bond and admiration due to her attitude towards special needs children (Beck has a special needs child himself). It was a great interview.
Bottom line: let’s stop digging ourselves into debt and start drilling for energy independence.
Sarah makes a lot of sense. I'm so concerned about the damage Obama will create in the 4 years of his so-called leadership (which will seem like an eternity) will be difficult to undo, creating a monumental task that it will take us a very long time to fix.
But Sarah is absolutely right, we need energy independence for national security and economic stability, as well. Of course, Obama couldn't care less about either.
Our gov is back!!
He did a long interview on his HLN show before she was named Veep candidate and really impressed him.. that interview was about the Interior department making the polar bear endangered and the lawsuit AK was filing to stop it, she went into great detail about how they were not only not endangered, but the population is expanding...
First Mark Levin’s Liberty and Tyranny, now Architects of Ruin. Pretty good for a supposed lightweight who never cracks a book. If only all the Pubs cared enough to be so informed.
Does anyone know what his book says about ACORN?
Drill baby, drill. While we're at it, we oughta BUILD MORE NUKE PLANTS! I'm now in West Virginia, where coal is the primary burn. Our rates are cheap, until Zero gets his hands on them...
That would be soooo cool!!
It was at that time of Becks interview with her that I was hoping someone would pick her as VP....too bad it ended up being McCain.
Go Sarah Go!!!
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