Oil & Gasoline price stopped falling after Republicans took over the House & Senate. Since then Oil trading volume has exploded & Wallstreet Banks are hording oil, storing it on tankers hiding it way out in the ocean out of inventory. This is an Enron scam to tie up lots of oil tankers to slow oil transportation until prices rise. US refinery oil inputs slowed last week. Republicans always drive up oil & gas prices to pay back their big oil campaign backers who bought their way into office. We will be forced to pay & pay.
Congressional Republicans have twice attached provisions to roll back or tweak parts of Dodd-Frank to legislation that the president ultimately signed into law: the government spending bill and a bill to reauthorize a federal terrorism risk insurance program, known as TRIA. This is bring back Enron style energy trading schemes taxing US heavily through higher prices.
Republicans killed US oil production.
- Republican president Nixion & Ford enacted price controls that killed US oil production in the 1970's. Us oil production has declined under every Republican president since.
- Republican president Nixion created the EPA that helped kill US oil production in the 1970's. Us oil production has declined under every Republican president since.
- Democrat President Carter got rid of Republican price controls & signed into law the U.S. Synthetic Fuels Corporation Act. This boosted US oil production that Republicans had destroyed.
- Republican president Reagan abolished U.S. Synthetic Fuels Corporation in 1985 & caused US oil production to fall for 24 more years until Democrat President Obama took power.
- Republican president Bush senior signed EO12777 banning drilling. Horizontal fracking setback borders were enforced under Republicans, not under Obama. This EO tanked US oil production gains made under Carter.
- 60% in Republican Texas town that is the birthplace of fracking & has been supported by fracking just voted to ban it.
- Under Democrat President Obama horizontal drilling boundaries setbacks were removed for Eco-Pad drilling reducing the cost of drilling & producing oil in the USA by $15/barrel. That made oil shale in the USA competitive creating the first rise in US oil production since the Carter administration.
- Under Democrat President Obama Utah’s oil sands are being extracted for $25/barrel “without creating the toxic wastelands that have resulted from oil sands projects in Western Canada.”Using solvent to separate 99% of oil from crushed rock and sand. The process does not use any water eliminating “massive tailing ponds filled with gallons of toxic sludge”. Oil is extracted cheaply & virtually without a trace or toxic footprint on the environment.
- Since 1970 US oil production fell under every Republican administration due to their policies & only rose under Carter & Obama. Machiavelli would be proud of how Republicans lies have their sheeple believing the exact opposite.
- Republicans believe in powerful police state spending trillions of tax dollars to steal oil from others.
Gasoline prices at the pump will rise since Republicans take congress in 2015. US oil production will again decline under the next Republican president.