Obama Finally Admits: Oil Suppy Affects Price

Discussion in 'Energy' started by Mad Scientist, May 14, 2011.

  1. Mad Scientist
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    Mad Scientist Feels Good! Gold Supporting Member Supporting Member

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    Will all the Liberals fall in line behind him?
    From the L.A. Slimes:
    Energy prices: Obama to open Alaska petroleum reserve to new drilling - latimes.com
    Is he admitting now that supply affects price? Is he now admitting that solar, windmills and Unicorns that fart rainbows are having no effect on keeping energy costs down?
    "Listening" doesn't equate with "Doing" but it's a start. Plus he still has the option to have the un-elected EPA quash the whole deal.
     
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  2. Mr. H.
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    Mr. H. Diamond Member

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    Encourage new drilling while taking away investment incentive?
    Won't work.
     
  3. CrusaderFrank
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    CrusaderFrank Diamond Member

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    No! Oil is the one and only commodity impervious to the laws is supply and demand!! The EnviroMarxists say so!
     
    Last edited: May 14, 2011
  4. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    The Oil biz is pretty gamed. Speculation and a complicit US government keeps prices fluctuating wildy.

    There isn't a supply problem right now.
     
  5. Mr. H.
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    Mr. H. Diamond Member

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    Not a supply problem, but a domestic supply issue.

    Drilling activity is almost directly correlated to the price of crude, and drilling requires massive investment. Investement that will be seriously hampered if Obama gets his budget including over $40 billion in taxes on the industry. I've seen figures as high as $90 billion.

    Very very few companies finance projects internally, and they must be able to attract capital.
     
  6. kiwiman127
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    kiwiman127 Comfortably Moderate Supporting Member

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    Yep, when someone is so married to their ideology. they sometimes fail to see the obvious. Some finally do see the error of their ways after a slap to the back of the head. I think reality finally slapped Obama in the back of the head.
    Now if more Washington politicians would react to the proverbial slap in back of the head, maybe something might get accomplished with all the issues America is facing today.
     
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  7. percysunshine
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    percysunshine Gold Member

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    This is working out well. Dick Cheneys' strategy of first getting the libs to adopt his foreign policy, and then getting the libs to adopt his economic policies...heck...it's Christmas!
     
    Last edited: May 14, 2011
  8. LilOlLady
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    LilOlLady Gold Member

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    Production of oil have no effect on the price of gasoline at all.

    Increasing Domestic Oil Production Would Have Little Effect on Gas Prices
    By Zach McDonald ยท
    April 26, 2011
    But while “drill baby, drill,” continues to be a popular refrain for administration critics and some Democrats hailing from oil-producing states, the argument's relevance to gas prices has recently come under greater scrutiny. A growing consensus of energy experts and analysts have lately come out against the idea that increasing the balance of domestically produced energy could yield significant relief to consumers struggling with high pump prices.

    Increasing Domestic Oil Production Would Have Little Effect on Gas Prices | PluginCars.com


    And our dependence on oil will never go away. Oil is still the cheapest way to go or we would not done something else years ago. We can bring down price by lower consumption. Maybe.
     
  9. waltky
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    waltky Wise ol' monkey Supporting Member

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    And as long as there's a stalemate in Libya, gas prices will continue to stay high...
    :eek:
    Official: Libyan oil won't flow until war is over
    5/15/2011 - Biggest crude producers cites security concerns it, other companies share
     
    Last edited: May 15, 2011
  10. SFC Ollie
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    SFC Ollie Still Marching

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    Don't give Obama too much credit. Even if he goes through with the talk this time.

    Remember he is in full campaign mode and the price of Gas can hurt him.
     

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