Posted on 11/04/2010 5:49:14 AM PDT by CincyRichieRich
Ok, oil is hovering at $85/barrel, which means like $3.00/gallon where I live. That is unacceptable with ANWR and our shallow and deep waters off our coasts just sitting there.
Gas affects everyone, even the folks who take the bus as their fares will rise (or they'll pass the redistribution to us).
It's time to start yelling at the White House and Senate from our newly elected Reps. Not later, now...pressure now and don't let them start on their wave of lame duck legislation.
Newly elected don’t take office until January.
Not a peep from Vitter and Landrieu, senators from Louisiana, as the federal gestapo has shut down all drilling off their coast by issuing no permits. This is how bureaucrats under a Marxist leader can kill industry in the USA.
One more thought...Bernake is a rich liberal GS guy, and I suspect he and his lib cronies at GS benefit from a low dollar policy making commodities high...I figure GS makes $$$ on options and hoarding gold...I suspect a nice fascist association between Obama and Goldman. Thank you Bush for putting Bernake there. Ugh.
Newly elected don’t take office until January.
Absolutely ,, remember O’s “Office of the President Elect” ,, he ran things beginning in November.
You nailed it, April.
This has little to do with supply and much to do with the FED devaluing the dollar.
I agree.
But BOTH political parties appear to be in solid with the Saudi Oil Sheiks and the Commodity dealers and oil speculators.
Like Whalers and buffalo hunters who killed off the source of their livelihood, these people simply don’t realize that a modern society MUST have a reliable source of cheap energy to exist.
The skyrocketing cost of oil and energy costs initiated the recession at the end of the Bush II era.
We need drilling in ANWAR, off the coast, Shale oil, Nuclear and increased coal use.
Screw the commodity dealers, Saudis and the Green nutjobs.
Of course it does. The Fed actions yesterday was a super huge story but it went over the head of many people here. They’re still engaged in nonsense like looking for Obama’s birth certificate while their money’s being turned into toilet paper.
The moment there is any indication that we will resume drilling for our own oil, the middle east will lower the price per barrel of their oil.
They surely don’t want us to be energy independent.
Newly elected means they are not sworn until January.
That said, I’d like to see the Republicans pass a House bill that opens up ANWR for immediate drilling. Force the issue and make the Senate vote on it, then force the (P)resident to veto it.
That is probably going to be the paradigm for many things for the next two years but it will set the stage for a real blowout in 2012...
>>Oil is sold in dollars and the value of the dollar is collapsing so the relative value of oil to a weakening dollar is increasing<<
To a point. If you are using American Dollars to by overseas products, it’s a huge hit. If you are using American Dollars to buy American products, less of a hit.
And flooding the market with cheap oil will improve things for us. Evenually, when (minus the deflation of the dollar) there is so much oil that the price drops, it’s good for all of us.
This has little to do with supply and much to do with the FED devaluing the dollar.
We really do need to increase supply, but it isn’t going to help much as long as Bernanke/gov insist on destroying the value of the dollar.
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