Posted on 06/13/2014 2:05:42 PM PDT by BenLurkin
“I dont understand why that would affect prices here. We have so much of our own drilling going on that surely we arent still importing tons of oil, are we? Maybe Im just not up on this subject....”
Probably because of the mess world markets have made. In good stable times, it keeps prices low, but in times like these when a nation should be able to keep its resources local, the oil will just flow to the highest bidder, thus prices will jump. Obama is right about one thing, oil is a shackle but nobody has developed a good alternative, unless we want to walk and live in the dark.
They are not doing that that is for sure.
Oil is fungible. What is drilled here doesn’t necessarily stay here. If the world wide price of oil goes up then we can’t keep it lower here because it will be purchased by someone else and the price goes up to meet that export demand.
Here in California there is an 8% sales tax on gasoline on top of the other gasoline taxes. Jerry Brown and the Democrats get an extra bonus too, they get 8% of the gasoline price increase.
The folks Obama backed in Syria are winning, with the help of the puppet masters who control the Bush family. The response isn’t unexpected.
Doesn’t anyone see that this guy is a Muslim and he’s giving our country away? I am so frustrated, that Congress doesn’t even have the presence of mind to step in and defend our interests.
That would conflict with defending their interests.
Fattening their wallets and getting drunk.
Glad I bought a bike over the winter.
A real old-timer; built in the late 1920s in Austria. Got a good deal on it (equivalent of $20), though I had to fix it up a bit. Not bad for a museum piece. :D
What are you guys doing on capitol hill?
Fattening their wallets and getting drunk.
Biding their time so that they get their lifetime pensions. Bunch of freeloaders.
They're just trying to make Obama look bad with that inflammatory claim. (Getting in ahead of the WH press office)
Thanks for the information. It helped.
I thought only electricity rates would necessarily skyrocket.
Well... that's how the ruling elite make a killing in the stock market.
While the US imports of crude oil have been falling, we still import over 7 million barrel a day.
http://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_epc0_im0_mbblpd_m.htm
While we only get 0.3 million a day from Iraq, all the other folks that normally get oil from Iraq will be buyiing on the same world market, trying to get more and the global price will rise.
Remember “No War for Oil”? Well, the lefties got their wish. Not only will we not have the oil, but the most vicious barbarians will have it instead with which to finance more terror against us.
Well, I was always in favor of taking the oil if we could get it. 1, to pay for the cost of liberating the country and 2, as an offset against OPEC monopoly practices. I didn’t advocate stealing the oil, just using it to pay us back and then paying a fair market price on our terms. Its win-win-win. The American taxpayer is reimbursed, the American economy is boosted by lower energy prices and we keep a lot of cash out of the hands of the bastards who are trying to kill us.
Thanks. The explanation helped.
Yes, people will tolerate the idiocy of the greenies until it begins to affect them financially. Personal economics trumps everything.
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