The Reality Revolt

IBD Editorials ^ | July 30, 2008

[Kaslin]

Congress: Quite a few Democrats are rebelling against their leadership and joining with Republicans to push for more domestic oil drilling. They've gotten an earful from voters who demand real solutions.

---

When the Energy Department on Wednesday reported an unexpected drop in gasoline inventories of more than 3.5 million barrels, the first decline in five weeks, the global price of crude oil proceeded to shoot up more than $4 a barrel, the biggest increase since July 10.

That illustrates what the issue of high gas prices is all about — not fat-cat oil execs gouging at the pump (a smear that has been repeatedly disproved), and not the purported need for uncompetitive substitutes like ethanol that cause global food prices to skyrocket, but rather the simple fact of supply and demand.

The Democratic leadership in Congress has been trying to distract from that truth and use high gas prices to please the green special interests (and, of course, cripple the Bush presidency). When asked last week why she would not allow a House vote on drilling, House Speaker Nancy Pelosi answered: "What the president would like to do is to have validation for his failed policy."

[EagleUSA]

“What the president would like to do is to have validation for his failed policy.”
::::::
No, Nazi, er, Nancy, what YOU would like to do is cripple America to create as much misery, discontent and hate that any fool would vote for you as a fix for our ills. You cannot exist without American grief and trouble. It defines you and the way you want to gain power. You sure cannot do it the old fashioned way — with hard work and positive results for Americans — that would give them too much power, wouldn’t it? And socialists do not like that....

[An Old Man]

"But it's not "what the president would like to do" that's becoming a big problem for Pelosi, Senate Majority Leader Harry Reid and other Democratic leaders. It's what the American people are increasingly demanding be done. And rank-and-file Democratic senators and congressmen are beginning to feel the heat. "

The democrats are toast! Read the rest to learn more about how they are beginning to wiggle.

[y6162]

“The democrats are toast!”

I hope W unleashes Cheney on Pelosi.

[Kaslin]

they better think twice if they think they will gain seats in November

[Deetes]

BOOM

[LasVegasMac]

Quite a few Democrats are rebelling against their leadership and joining with Republicans to push for more domestic oil...

17 is quite a few?

That was the # of 'Rats that voted with the Pubs on todays vote, at least that is what the Great One said.

The leashes have been tightened a few notches.

[Realism]

drop in gasoline inventories of more than 3.5 million barrels, the first decline in five weeks, the global price of crude oil proceeded to shoot up

Then oil goes up? Apparently oil is now a product of gasoline? Supply and demand, get real. At what point do these excuses get embarrassing?

[adorno]

Quite a few Democrats are rebelling against their leadership and joining with Republicans to push for more domestic oil drilling. They've gotten an earful from voters who demand real solutions.

What is needed is something in the magnitude of the "Boston Tea Party" in order to get anything done by this congress that refuse to listen to the people. The current leadership is not listening to the people and that leadership keeps constantly coming up with excuses to prevent the actions needed to make us energy independent. "Saving the world" is not going to save America, and if America is not saved, then the world won't be saved.

Americans need to revolt by replacing that democratic party leadership in congress. The American voters also need to replace most liberals in congress with people who will actually care about making us energy independent. Enough is enough!

What would be an equivalent phrase for a revolt in 2008 which throws out the scoundrels in congress who are irritating the hell out of the American people?

High taxation and high energy prices can't be tolerated anymore. How do we let them know that "we're sick and tired and we're not going to take it anymore"?

Should we call it the "oil revolt of 2008"?

[Realism]

actions needed to make us energy independent

Like drilling? Tried it in the early 80's. Domestic production increased, prices fell, domestic production was no longer economically feasible vs imported, cheap gas increased demand and imports are higher than ever with prices not far behind.

[ChildOfThe60s]

My thoughts exactly. Traders have long since ceased to think rationally.

Another irony, if what I have read is correct, is that inventories go down like this because the profit margin is narrow and the cost of gas is so high that it simply doesn’t pay to finance the inventory with declining sales of the product.

IOW, There is lower inventory because we are using less gas, because of the high cost. Which in turn means the cost goes higher. See what I mean about lack of logical reasoning?

[ChildOfThe60s]

Like drilling? Tried it in the early 80's. Domestic production increased, prices fell, domestic production was no longer economically feasible vs imported, cheap gas increased demand and imports are higher than ever with prices not far behind.

That's partly true. But you left out the fact that OPEC (mostly the Saudis) ramped up production to lower prices in order to discourage our domestic development.

[adorno]

Like drilling? Tried it in the early 80's.

I know that.

What I'm talking about is a revolt against the entrenched powers that have the American people suffering through the energy crisis and the high tax policies.

If we can get rid of the socialists and the environmentalists from wielding power, then perhaps we won't have to worry about another energy crisis or high tax policies.

[Realism]

Yep. The way it looks now a days the markets are so volatile and disconnected from actual numbers the mere approval to drill could drive oil prices well below whats feasible for domestic production.

[attiladhun2]

But the days of the OPEC stragglehold are numbered. The Saudis have been inflating their estimated reserves for years. They are going to run out of recoverable oil by the end of this century. However, by then cheap hydrogen and natural gas will probably have put this bunch out of business anyway.

[Realism]

However, by then cheap hydrogen and natural gas will probably have put this bunch out of business anyway.

Natural gas......cheap? Not any more. Unless someone comes up with a way to make home-brew hydrogen that won't be cheap either once we're hooked.

[Realism]

Personally I believe the way to go is electricity. Since storage, diversity and modernized infrastructure are the only hurdles it wouldn't take a hell of a lot to implement. Oh and we COULDN'T import it from most places we shouldn't.

[aquila48]

“I hope W unleashes Cheney on Pelosi.”

I like that! That would be a great last hurrah, he could really unload on that peabrain, and leave office grinning and fully satisfied knowing he is the most reviled person of the left.

[y6162]

“I hope W unleashes Cheney on Pelosi.”

Cheney really annoys Pelosi. He treats her with bemused contempt.

[attiladhun2]

Of course, once the government is invovled, they will tax the &%#$@* out of it, to be sure. But natural gas is cheaper than gasoline, and it is subject to the same economic forces that have driven up the cost of petroleum. The red diaper babies in Congress have halted drilling for natural gas in the same way they have done so for petroleum. We would have no shortage of it if the Dems were not led by the nose by the EnviroMarxists.