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Mika: Offshore Drilling Wouldn't Lower Gas Prices for Ten Years
NewsBusters ^ | Mark Finkelstein

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 ...


TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: drilling; energy; gasprices; hillaryclinton; mikabrzezinski; offshoredrilling
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1 posted on 07/15/2008 4:14:46 AM PDT by governsleastgovernsbest
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To: Behind Liberal Lines; Miss Marple; an amused spectator; netmilsmom; Diogenesis; YaYa123; MEG33; ...

Someone school Mika on commodities markets ping to Today show list.


2 posted on 07/15/2008 4:15:36 AM PDT by governsleastgovernsbest (Keeping track of the MSM so you don't have to!)
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To: governsleastgovernsbest

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.


3 posted on 07/15/2008 4:17:10 AM PDT by Always Right (Was it over when the Germans bombed Pearl Harbor?)
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To: governsleastgovernsbest

Wonder how Zbig’s little girl got a job like that? Merit, I’m sure...


4 posted on 07/15/2008 4:18:25 AM PDT by 2ndDivisionVet (McCain could never convince me to vote for him. Only the Marxist Obama can!)
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To: governsleastgovernsbest

I believe that lady has the intellect of a carrot.


5 posted on 07/15/2008 4:19:07 AM PDT by KoRn (CTHULHU '08 - I won't settle for a lesser evil any longer!)
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To: KoRn

We resent that. — Robert Thompson, President, American Association of Carrot Growers


6 posted on 07/15/2008 4:20:58 AM PDT by governsleastgovernsbest (Keeping track of the MSM so you don't have to!)
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To: governsleastgovernsbest
Aren't these the same people constantly berating us for not planning for our children and grandchildren and only worrying about “here and now”? And they have been saying this for at least 12 years now.
7 posted on 07/15/2008 4:21:04 AM PDT by BallyBill (Serial Hit-N-Run poster)
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To: Always Right

Are you available to sit down with Mika and school her? ;-)


8 posted on 07/15/2008 4:21:43 AM PDT by governsleastgovernsbest (Keeping track of the MSM so you don't have to!)
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To: governsleastgovernsbest

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.


9 posted on 07/15/2008 4:23:51 AM PDT by autumnraine
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To: BallyBill

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]


10 posted on 07/15/2008 4:23:51 AM PDT by ClearCase_guy (Et si omnes ego non)
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To: governsleastgovernsbest

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.


11 posted on 07/15/2008 4:24:26 AM PDT by scooby321
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To: governsleastgovernsbest

I don’t care if it takes 50 years. DRILL G*D Dammitt!!!!!!!


12 posted on 07/15/2008 4:26:23 AM PDT by nikos1121 (The first black president of the US should be at least a "Jackie Robinson.")
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To: governsleastgovernsbest

Like father, like daughter.

Stupid is as stupid does.


13 posted on 07/15/2008 4:29:15 AM PDT by exit82 (People get the government they deserve--and they are about to get it --in spades.)
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To: governsleastgovernsbest
If we had been allowed to drill ten years ago, we wouldn't have $4 a gallon now. Liberals lack a grasp of basic economics.

"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

14 posted on 07/15/2008 4:29:49 AM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: governsleastgovernsbest
Standard lib responses to any exploration proposals:

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!

15 posted on 07/15/2008 4:30:55 AM PDT by Rummyfan (Iraq: it's not about Iraq anymore, it's about the USA!)
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To: governsleastgovernsbest

lol!!

I meant no ill will against carrots(geez! can’t help but to offend everyone these days)


16 posted on 07/15/2008 4:31:24 AM PDT by KoRn (CTHULHU '08 - I won't settle for a lesser evil any longer!)
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To: Rummyfan
Meanwhile they say alternative energy is the solution,

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...?

17 posted on 07/15/2008 4:34:09 AM PDT by EBH ( ... the riotousness of the crowd is always very close to madness. --Alculin c.735-804)
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To: KoRn
I believe that lady has the intellect of a carrot.

...a carrot that never took Economics 101.

18 posted on 07/15/2008 4:35:19 AM PDT by Sooth2222 ("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
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To: governsleastgovernsbest

I guess the talking points are out...the Friend filling in for Steve said it would take five. (rolling eyes)


19 posted on 07/15/2008 4:36:07 AM PDT by Miss Didi ("Good heavens, woman, this is a war not a garden party!" Dr. Meade, Gone with the Wind)
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To: 2ndDivisionVet
Wonder how Zbig’s little girl got a job like that?

She probably laid the groundwork with some drilling 10 years ago.

20 posted on 07/15/2008 4:39:42 AM PDT by PBRSTREETGANG
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To: KoRn
I believe that lady has the intellect of a carrot.

No carrot has ever uttered such a foolish comment. ;^)

21 posted on 07/15/2008 4:40:08 AM PDT by Charles Martel (Liberals are the crab grass in the lawn of life.)
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To: governsleastgovernsbest
Drilling for oil is like planting a tree, or starting a retirement account. The two best times to start is either 20 years ago...or today.

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.

22 posted on 07/15/2008 4:43:02 AM PDT by MuttTheHoople
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To: governsleastgovernsbest

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.”


23 posted on 07/15/2008 4:43:53 AM PDT by jmaroneps37 (Conservatism is truth. Liberalism is lies.)
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To: governsleastgovernsbest

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.”


24 posted on 07/15/2008 4:44:01 AM PDT by Right Wing Assault ("..this administration is planning a 'Right Wing Assault' on values and ideals.." - John Kerry)
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To: exit82

Goes beyond stupid. It reaches anti-American.


25 posted on 07/15/2008 4:45:02 AM PDT by Carley
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To: governsleastgovernsbest

10 years??!!!!!!????....well then, we better get started.


26 posted on 07/15/2008 4:46:00 AM PDT by joe fonebone (The Second Amendment is the Constitutions reset button)
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To: Charles Martel

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.


27 posted on 07/15/2008 4:46:04 AM PDT by Dusty Road
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To: governsleastgovernsbest
Mika: Offshore Drilling Wouldn't Lower Gas Prices for Ten Years

So what?

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.

28 posted on 07/15/2008 4:46:27 AM PDT by Jim Noble (Cut the birth certificate crap! It's the communism, stupid!)
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To: PBRSTREETGANG
She probably laid the groundwork with some drilling 10 years ago.

That is a childish thing to say and man, did I ever crack up when I read it.

29 posted on 07/15/2008 4:49:20 AM PDT by GreenAccord (Bacon Akbar!)
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To: All

She’s God awful. I sure enjoyed all of last week on Morning Joe when she was on vacation. Joe Rocks!


30 posted on 07/15/2008 4:51:14 AM PDT by excalibur1701
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To: governsleastgovernsbest
Mika: Offshore Drilling Wouldn't Lower Gas Prices for Ten Years

Sounds like she wants the Democrats to hold on to Congress this Fall.

31 posted on 07/15/2008 4:51:25 AM PDT by library user (There's no sandwich like prawn sandwich.)
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To: nikos1121

“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.”

BRILLIANT!


32 posted on 07/15/2008 4:52:59 AM PDT by bolobaby
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To: Always Right
Right again.. The value of US$ is the problem solved by improving our global competitiveness.
33 posted on 07/15/2008 4:53:51 AM PDT by Broker (Grandpa Petti Bones wants to know.)
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To: governsleastgovernsbest

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!”


34 posted on 07/15/2008 4:53:59 AM PDT by Be Free
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For the record

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 Alaska’s 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]
Cosponsors [as of 2008-07-06] Sen. Maria Cantwell [D-WA] Sen. Robert Menéndez [D-NJ]
35 posted on 07/15/2008 4:55:28 AM PDT by syriacus (Democrats got THEIR "change" in Election 2006. Are WE better off now?)
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To: GreenAccord

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.


36 posted on 07/15/2008 4:56:43 AM PDT by xrmusn
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To: governsleastgovernsbest
Mika was still crying about the cover of The New Yorker this morning to Mike Murphy. Isn't it ironic that The New Yorker put the caricature in question on it's cover to help the messiah, and it has done nothing but hurt him. Funny how a liberal magazine that thought it was being clever could be one of the reasons the MSM’s handpicked candidate loses.
37 posted on 07/15/2008 4:56:54 AM PDT by moose2004 (Go Ahead, Make My Day)
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To: Always Right

“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.


38 posted on 07/15/2008 4:57:26 AM PDT by Slapshot68
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To: governsleastgovernsbest
With the price of gasoline and heating oil these presstitutes look less and less believable by the day. Since gas has gone above $4.00 a gallon poll and poll have shown that the overwhelming number of Americans want increased domestic drilling. The excuses of the Rats in Congress and their sycophants in the press are wearing thin at this point.
39 posted on 07/15/2008 4:58:16 AM PDT by RU88 (The false messiah can not change water into wine any more than he can get unity from diversity.)
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To: governsleastgovernsbest
Mika Brzezinski characteristically misses the point in her role as a media functionary of propaganda.

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.

40 posted on 07/15/2008 4:58:48 AM PDT by steelyourfaith
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To: governsleastgovernsbest

why go to college, you won’t graduate for 4 years..


41 posted on 07/15/2008 5:00:49 AM PDT by edzo4
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To: syriacus
It took Salk 8 years to find a cure for polio.

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.


42 posted on 07/15/2008 5:01:11 AM PDT by syriacus (Democrats got THEIR "change" in Election 2006. Are WE better off now?)
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To: governsleastgovernsbest

Mika, Mika, Mika...


43 posted on 07/15/2008 5:01:18 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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To: governsleastgovernsbest
Mika: Offshore Drilling Wouldn't Lower Gas Prices for Ten Years

That, of course, is just plain Bullsh!t.

44 posted on 07/15/2008 5:01:24 AM PDT by GoldenPup
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To: steelyourfaith
It's called the law of supply and demand, Mika.

Don't confuse them with the details. It messes up their narrative.

45 posted on 07/15/2008 5:01:30 AM PDT by twntaipan (NOBAMA! Say No to B.O.!)
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To: goldstategop
Liberals lack a grasp of basic economics

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.

46 posted on 07/15/2008 5:04:02 AM PDT by x_plus_one (let them eat cake, drive small electric cars and take the bus..........)
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To: governsleastgovernsbest

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.


47 posted on 07/15/2008 5:04:22 AM PDT by rottndog (Globull Warming "Science" = garbage in, gospel out.)
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To: governsleastgovernsbest
Irrespective of the workings of the commodities markets the "study" or "report" being cited by Mika and her funny little friends actually notes that the FIRST DAY after exploration and recovery is resumed in the United States oil will be about $58 a barrel, not the current $147 per barrel.

I think Mika is not too good at reading or something.

48 posted on 07/15/2008 5:06:54 AM PDT by muawiyah (We need a "Gastank For America" to win back Congress)
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To: governsleastgovernsbest
here is her myspace page...

you can tell her yourself how you feel...

http://profile.myspace.com/index.cfm?fuseaction=user.viewprofile&friendid=370683785

49 posted on 07/15/2008 5:09:51 AM PDT by edzo4
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To: bolobaby

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


50 posted on 07/15/2008 5:10:56 AM PDT by nikos1121 (The first black president of the US should be at least a "Jackie Robinson.")
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