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Exclusive: Saudi oil boost could calm markets: Senator Schumer (Rats begging for more foreign oil)
chicago tribune ^ | 2/26/2012 | Roberta Rampton/Reuters

Posted on 02/26/2012 6:37:45 AM PST by tobyhill

The United States should do more to encourage Saudi Arabia to boost its oil production to make up for lost Iranian oil, Senator Charles Schumer said on Sunday, urging renewed diplomacy as a way to ease the run-up in oil prices.

Tensions surrounding Iran's nuclear program have pushed oil prices to nine-month highs, and U.S. gasoline prices have surged, becoming a top political issue in the run-up to the 2012 presidential elections.

A public promise from Saudi Arabia, the world's top oil exporter, to pump oil at its full capacity would calm oil markets as well as gasoline prices, Schumer, the third-ranking Democrat in the Senate, said in a letter to Secretary of State Hillary Clinton.

In the letter, which was obtained by Reuters, Schumer asked Clinton to urge the Saudi government to increase production to full capacity of 12.5 million barrels per day - an increase of 2.5 million barrels.

(Excerpt) Read more at chicagotribune.com ...


TOPICS: Extended News; News/Current Events
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To: tobyhill; All

Yesterday we saw stories about Dems literally BEGGING Obama to raid the SPR, today we see this.

Democrats know and understand that high gas prices this spring, mean DOOM for Democrats in November.

NOTHING matters but winning in November for Dems, no matter the cost to America.


41 posted on 02/26/2012 8:13:01 AM PST by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: tobyhill

Tomorrow Chuckie will be bewailing our trade deficit and how it is all the Republicans fault.


42 posted on 02/26/2012 8:26:12 AM PST by Henry Hnyellar
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To: PSYCHO-FREEP

Sure you are. That’s why you post incomplete sentences. You are obviously a genius.

“I happen to be one of those individuals who not only helped develop Fracking technology. I helped pioneer North Dakota, Alaska (Prudhoe Bay) and I am now deeply involved in the Marcellus Shale district in West Virginia, Pennsylvania and Ohio.”


43 posted on 02/26/2012 8:30:25 AM PST by Henry Hnyellar
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To: tobyhill

Hey Upchuck, we don’t need any more earthwarming fossil fuels.
Our house is self-sustaining, we just need to scrape the green algae
from the walls of our goldfish tank daily. The One said so. Gotta go,
I want to take a picture of that flying unicorn that just went by.


44 posted on 02/26/2012 8:30:44 AM PST by rfp1234 (RFP's Law: Whoever blames Bush first shall lose the argument.)
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To: stickywillie
The price of oil is going up because the dollar is dropping in value. Plain and simple. It is simply caused by QE 1 and QE2 and the Bernakie loaning 14 Trillion to unknown global banks. The Saudis know this and the price is attached to the dollar.
45 posted on 02/26/2012 8:31:07 AM PST by Chancelot
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To: PSYCHO-FREEP

That is why we need to pass the natural gas act and start the process of building and converting vehicles to run on either gasoline or natural gas,

It would be easier to significantly cut the demand for gasoline to the point it drops the need for some of the imported oil. Just having the option means motorists can avoid buying gasoline every time the price heads for the stratosphere. It would be nice for those who continue with gasoline only vehicles to know gasoline prices couldn’t be raised with impunity on Memorial Day and Labor Day or during the summer drive season.

Using natural gas for vehicle engines is old technology. A local individual converted his own vehicles years ago.


46 posted on 02/26/2012 9:42:13 AM PST by meatloaf (Support House Bill 1380 to eliminate oil slavery.)
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To: PSYCHO-FREEP

Fracking has been used for a long time even on shallow wells. After that, well tenders monitor the flow. Over time the wells need to be worked over to remove the water and other material that starts to fill the well. That keeps the output up. A good well tender can maintain a constant level of production over a long period of time.


47 posted on 02/26/2012 9:47:50 AM PST by meatloaf (Support House Bill 1380 to eliminate oil slavery.)
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