Skip to comments.Mika: Offshore Drilling Wouldn't Lower Gas Prices for Ten Years
Posted on 07/15/2008 4:14:45 AM PDT by governsleastgovernsbest
Mika Brzezinski might be an Obama backer, but she really should sit down with Hillary Clinton. The woman who turned $1,000 into $100,000 could clue her in to the workings of the commodities markets. Be it cattle or crude oil, the concept's the same: these are "futures" markets in which prices are set on traders' expectations of what conditions will be some time down the road.
Mika's need for urgent remedial help on the matter became evident during the first minutes of today's Morning Joe. Ostensibly fulfilling her news-reading function, Mika veered from the prepared text to inject her own editorializing to the effect that lifting the offshore drilling ban today wouldn't lower gas prices for ten years.
MIKA BRZEZINSKI: Time for a look at some of today's top stories. President Bush is calling on congress to lift its ban on offshore oil drilling. On Monday the president ended a long-standing moratorium on the practice, saying new drilling would ease pressure on fuel prices [going off-script to inject her own views] -- in about ten years. Critics argue the production of gas from the offshore --
View video here.
(Excerpt) Read more at newsbusters.org ...
Someone school Mika on commodities markets ping to Today show list.
The price of oil today is determined by many things, including speculation about future supplies. If you shore up future supplies now, prices drop today.
Wonder how Zbig’s little girl got a job like that? Merit, I’m sure...
I believe that lady has the intellect of a carrot.
We resent that. — Robert Thompson, President, American Association of Carrot Growers
Are you available to sit down with Mika and school her? ;-)
Journalists aren’t supposed to think for the people, they are supposed to report and let the people think for themselves.
When we take out Congress and start over, we need to do the same with the media.
I don’t plan to save for retirement — what’s the hurry? I’m not going to need any of that money for 30 years! I’ll start putting money aside when I’m 65 — that way I’ll get an immediate benefit from my savings! [/s]
You can get the Oil in the Mountain states in 18 months, as we know the markets are looking into the future so it would have an impact faster as the world would know that more oil is coming online. Plus the jobs it would create.
I don’t care if it takes 50 years. DRILL G*D Dammitt!!!!!!!
Like father, like daughter.
Stupid is as stupid does.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
1. We can't drill our way out of this. Which I don't understand, as basic economics tells us that if demand is outpacing supply, increase supply!
2. It will take ten years before that oil reaches the market. That's what they said about ANWR ten years ago! Meanwhile they say alternative energy is the solution, but no windmill is gonna power my Yukon!
I meant no ill will against carrots(geez! can’t help but to offend everyone these days)
And we need to hammer back at them...when will that become available? Two years ago you promised it, EPA just placed a 2 yr. moratorium on solar, and it will be another 4 years after that if it is even allowed to come to market. Oil, drill now...sure thing. Alternatives...?
...a carrot that never took Economics 101.
I guess the talking points are out...the Friend filling in for Steve said it would take five. (rolling eyes)
She probably laid the groundwork with some drilling 10 years ago.
No carrot has ever uttered such a foolish comment. ;^)
The "10 year" canard we hear is based on statistics from the 1950's. Nowadays, we can get oil up and running much quicker. I seem to remember that the North Slope of Alaska oil was discovered in 1968, and production began in 1977. That's nine years under the most hostile conditions imaginable. Just think how quick it'll come on line in more moderate climes, closer to the refineries, and with Americans having a purpose in getting it out like we had in World War II, or at least the first 3 months after 9/11.
This is classic marxist democrats think. They just do not understand dynamic scoring. So they think: If you get a job, I have to lose mine; If we lower taxes we will get less revenue, two and two ALWAYS ONLY makes four, so a stimulus package will only have a dollar for dollar effect.
As to this dope’s prediction, well of course it is stupid. First she has no respect for America’s “Can do” attitude. She has her socialist “experts” backing this prediction up and that closes her mind. Next as a basic marxist she does not understand free market dynamics. She hasn’t the slightest understand of what a shock to the speculators an America that is fighting back will deliver.
Finally like all marxist she will move the goal posts. When off shore drilling is started and it is clean and producing oil, she will say something like “Yes but we won’t have any oil for ten years.”
It’s going to take 10 years, so let’s not drill at all.
Isn’t that what JFK said about putting a man on the moon?
“My fellow Americans, our goal is to put a man on the moon before the end of the decade. But that is a long time, so we have decided to forget the whole thing.”
Goes beyond stupid. It reaches anti-American.
10 years??!!!!!!????....well then, we better get started.
When they say it’s going to take 10 years to make a difference, just ask them to explain why they think that. Then stand back out of the splatter zone, when they’re heads explode. They don’t even know why they’re saying it.
Forty years of energy policy malpractice and corruption can't be undone overnight.
Even if it takes FORTY years to lower prices by drilling, every day we don't start is a day wasted.
That is a childish thing to say and man, did I ever crack up when I read it.
She’s God awful. I sure enjoyed all of last week on Morning Joe when she was on vacation. Joe Rocks!
Sounds like she wants the Democrats to hold on to Congress this Fall.
“Digging for diamonds won’t lower the price of diamonds so - despite the fact that you have diamonds on your property - you shouldn’t dig them out. Instead, when diamonds are at an all time high, buy your diamonds from a foreign source. Export as much money as humanly possible so that foreign entities can buy up U.S. landmarks like the Chrysler building (and the mortgage on your house by bailing out banks).
“While you are busy exporting trillions of dollars to buy diamonds, work hard to make diamonds obsolete through new technology. That way, all of the potential trillions you have in diamonds of your own eventually becomes worthless as you let them rot in the ground.”
The Republican response to this sound-bite about “Big-Oil not drilling on the 68 million acres they already have” should be this:
“It should come as no surprise that Democrats, who consistently pursue policies that yield no good results, would advocate drilling where there is no oil. But that’s not going to solve our problem. We need to drill where there are proven reserves, and do it now!”
Bush's action in 2007
January, 2007 --President Bush ended drilling bans in an area of the central Gulf of Mexico and in Bristol Bay, which is part of Alaskas North Aleutian basin.
John Kerry's action in 2007
May 4, 2007---- Legislation > 2007-2008 (110th Congress) S. 1311: Bristol Bay Protection Act
A bill to permanently prohibit oil and gas leasing in the North Aleutian Basin Planning Area, and for other purposes.Sponsor Sen. John Kerry [D-MA]
Not sure if it was RL or not, but heard someone railing yesterday about ‘where is the Union Leadership’? One would think the Union would want the jobs etc the drilling will bring plus all the ‘little’ extras?
Just shows how screwed up our political system is these days. The Public be Damned, just get the ___________ (fill in the blank) in power and things will be better.
“The price of oil today is determined by many things, including speculation about future supplies. If you shore up future supplies now, prices drop today.”
Please stop confusing the brain damaged dems...have a heart.
The USofA needs energy. We have enormous quantities of energy within our own borders and territorial waters. We are kept from accessing it by a consortium of left-wing ecotards and career politicians. I rather suspect that the cost of energy will in fact be higher 10 years hence if we don't begin working to increase supply.
It's called the law of supply and demand, Mika.
why go to college, you won’t graduate for 4 years..
Would Democrats have told him, in 1947, to forget looking for a cure?
In 1947, Salk accepted an appointment to the University of Pittsburgh Medical School. While working there, with the National Foundation for Infantile Paralysis, Salk saw an opportunity to develop a vaccine against polio, and devoted himself to this work for the next eight years.
In 1955 Salk's years of research paid off.
Mika, Mika, Mika...
That, of course, is just plain Bullsh!t.
Don't confuse them with the details. It messes up their narrative.
Either that or they think we can all live on hot air and ashes until we 'invent' ourselves into energy self-sufficiency.
The Corporate owned anonymous media employees do not know how to do anything but talk and spew for their masters. They can't plan their way out of a paper bag.
It’s probably easier to get a muslim to eat pork than it is to get a liberal to accept one iota of the legitimacy of basic supply and demand economics. Getting them to understand commodities and speculation is even more difficult. It too much flies in the face of their socialist dogmatism.
I think Mika is not too good at reading or something.
you can tell her yourself how you feel...
putting our reserves on the spot marketwould bring in revenue to put towards other energy saving things, but this would be stupid. better for us to wait until the price is way down then sell...
anyone voting democrat this year is a moran