06-09-2008, 08:02 PMHolding the Key to Gas Prices
WASHINGTON -- Rising in the Senate on May 13, Chuck Schumer, the New York Democrat, explained: "I rise to discuss rising energy prices." The president was heading to Saudi Arabia to seek an increase in its oil production, and Schumer's gorge was rising.
Saudi Arabia, he said, "holds the key to reducing gasoline prices at home in the short term." Therefore arms sales to that kingdom should be blocked unless it "increases its oil production by one million barrels per day," which would cause the price of gasoline to fall "50 cents a gallon almost immediately."
Can a senator, with so many things on his mind, know so precisely how the price of gasoline would respond to that increase in the oil supply? Schumer does know that if you increase the supply of something, the price of it probably will fall. That is why he and 96 other senators recently voted to increase the supply of oil on the market by stopping the flow of oil into the Strategic Petroleum Reserve, which protects against major physical interruptions. Seventy-one of the 97 senators who voted to stop filling the SPR also oppose drilling in the Arctic National Wildlife Refuge.
One million barrels is what might today be flowing from ANWR if in 1995 President Clinton had not vetoed legislation to permit drilling there. One million barrels produce 27 million gallons of gasoline and diesel fuel. Seventy-two of today's senators -- including Schumer, of course, and 38 other Democrats, including Barack Obama, and 33 Republicans, including John McCain -- have voted to keep ANWR's estimated 10.4 billion barrels of oil off the market.
So Schumer, according to Schumer, is complicit in taking $10 away from every American who buys 20 gallons of gasoline. "Democracy," said H.L. Mencken, "is the theory that the common people know what they want and deserve to get it good and hard." The common people of New York want Schumer to be their senator, so they should pipe down about gasoline prices, which are a predictable consequence of their political choice.
One million barrels is what might today be flowing from ANWR if in 1995 President Clinton had not vetoed legislation to permit drilling there. One million barrels produce 27 million gallons of gasoline and diesel fuel.-
In actual dollars, President Obama’s $4.4 trillion in deficit spending in just three years is 37 percent higher than the previous record of $3.2 trillion (held by President George W. Bush) in deficit spending for an entire presidency. It’s no small feat to demolish an 8-year record in just 3 years.
Under Obama’s own projections, interest payments on the debt are on course to triple from 2010 (his first budgetary year) to 2018, climbing from $196 billion to $685 billion annually.
06-09-2008, 09:18 PM
Combine ANWR with the TRILLIONS of barrels we have RIGHT HERE - but cannot touch - and we would have an oil GLUT. Prices would fall through the floor.
If you are pissed off about the price of gas, and the state of our economy, you need to look no further than the Democratic Party. They are nearly 100% responsible for the supply problems that are causing prices to skyrocket and thus doing harm to our economy.
06-09-2008, 09:44 PM
The connection between smoking and scooters is tenuous, at best. The former is consumption of an expendable product that does not enhance the consumer's economic status (in fact, it erodes it, as his disposable income is spent on smokes instead of being saved or invested), the latter is a capital investment that provides transportation and therefore economic opportunities. The only connection between the two is that the more that a Chinese worker spends on expendable consumables, the less he has to spend on a scooter. To equate the two is idiotic, but that is what we've come to expect from you.
Sic Hacer Pace, Para Bellum.
Before you can do things for people, you must be the kind of man who can get things done. But to get things done, you must love the doing, not the people!
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