Posted on 07/30/2008 12:59:11 PM PDT by DallasBiff
Last update: 2:06 p.m. EDT July 30, 2008 WASHINGTON, July 30, 2008 /PRNewswire-USNewswire via COMTEX/ -- Speaker Nancy Pelosi released the following statement today in response to remarks by President Bush on energy this morning at the White House: "The President knows, as his own Administration has stated, that the impact of any new drilling will be insignificant - promising savings of only pennies per gallon many years down the road. Americans know that thanks to the two oilmen in the White House, consumers are now paying $4 a gallon for gas. But what Americans should realize is that what the President is calling for is drilling as close as three miles off of America's pristine beaches and in other protected areas. "The President has failed in his economic policy, and now he wants to say, 'but for drilling in protected areas offshore, our economy would be thriving and the price of gas would be lower.' That hoax is unworthy of the serious debate we must have to relieve the pain of consumers at the pump and to promote energy independence. "Today, the New Direction Congress will vote on legislation to bring down gas prices by taking crucial steps to curb excessive speculation in the energy futures market. The President himself could lower prices by drawing down a small portion of our government oil stockpile, the Strategic Petroleum Reserve. SOURCE Office of the Speaker of the House
(Excerpt) Read more at marketwatch.com ...
Pelosi. Stupid is as stupid does.
Nancy Pelosi is a failure as Speaker of the House.
It actually had to do with an unexpected decline in gasoline supplies.
There...fixed it.
This hag is really getting on my nerves quickly! She and all libs have unbound arrogance and stupidity. Them calling Bush stupid is just amazing considering together the libs have an IQ equal to their ratings what is it at 9%?! Aholes!
Pelosi operates the same way as that sucker fish on sharks. Her entire univers is founded on the “magic” of the food from the larger fish.
But for big government scum like pelosi could not survive.
This "Madam" runs a tight brothel.
Since San Nan enjoys crushing the finances of so many ordinary Americans here is my wish and prayer for her...
Nancy...pox on your vineyards, pox on your hotels/real estate, pox on your book sales and pox on all your finances
for the unnecessary strain in the economy due to you and complicit Dems....eat your pox with marinara sauce!
They and their friends in the "environmentalist" lobby have been at this for decades.
In the 80s the boom in oil exploration left oil producers with a lot of excess capacity. We are finally getting to the point where demand has caught up and supplies are starting to get tight. However it isn't that current demand is greater than supply, it is that future demand is reliably projected to grow considerably. There isn't excess capacity to supply that demand and the Democrats are continuing to fight efforts to expand supply.
The Democrats want to blame "speculators" however, they aren't being all that speculative when they are simply making rather reasonable reactions to what the Democrats say they are going to do.
If we don't start working to increase supply, oil is going to skyrocket. We do have the capability to significantly increase our production. It will take time to do so, that makes it even more important to start now! Somehow the Dems use the inability to bring more capacity on line immediately as an excuse not to do it.
We aren't facing these extremely high prices now because of current demand, we are facing them because we aren't doing anything to address future increases in demand!
Is this idiot woman for real? She is ignorant on economics for sure. A doofass on science. She takes up good oxygen. Nancy....go away....far away.
Actually prices were quite stable after the oil report came out at 10:30 AM EDT, but skyrockrted after this Pelosi staement was released.
She's not a moron. She's a coward.
Pelosi, Boxer, Feinstein, Schwarzenneger, Jerry Brown — when will my fellow California voters come to their senses?
But, N-Nancy, didn’t you promise to LOWER gas prices way back in 2006?
I believe that this is the horse that the GOP can ride back into power in November. Just let Peta Pelosi keep on issuing stupid press releases that keeps the price of gas high.
When was this study made? Was it before the recent increase in demand by China and India? Before then we had more supply than demand. The price was largely bidding among oil producers to see which wells wouldn't pump that week. Things have changed. Now demand outstrips supply and the bidding is on which purchasers won't get as much oil as they want. In the first situation adding new and likely expensive to run wells would just mean more wells not pumping so there would be little decrease in price. In our current situation (and more so five to ten years from now), the extra oil will have a huge effect on prices because they might be the difference between and oversupply and a shortfall (or a shortfall and a vast shortfall).
This is similar to going by a current study on whether to increase farm land, but trying to apply it to a situation during a great drought when people are starving and fighting over every loaf of bread.
Democrats hate futures markets because they can prove in today’s dollars the likely future impact of their idiotic schemes. Wow, I’m slow. Just figured that out.
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