Quick Hit: Drilling Is A Fraud!
Terri Whitehouse June 19th, 2008
I guess some people think that if you repeat a lie long enough, it becomes magically true. Click here to learn why the Bush/McCain/McConnell energy “plan” is a great big FAIL!
UPDATE: And Krugman for the TKO:
Mr. McCain has now aligned himself with an administration that, even aside from its blame-the-environmental-movement tendencies, has established an extensive track record as the gang that couldn’t think straight about energy policy.
Remember, they didn’t just insist that the Iraqis would welcome us as liberators; on the eve of the Iraq war, administration officials were also adamant that regime change in Iraq would add millions of barrels a day to the world oil supply, driving oil prices way down. (In fact, Iraq’s oil output took five years just to recover to preinvasion levels.)
So why would Mr. McCain associate himself with these characters? The answer, presumably, is that it’s a cynical political calculation.
How can anyone really delude themselves into trusting Bush/McCain/McConnell/and the ever-desperate Northup on energy policy? All the sugar in the world wouldn’t make that snake oil go down!
- ANWR , Ann Northup , Ditch Mitch , Economy , GOP , General Knowledge , George W. Bush , John McCain , Mitch McConnell , Oil
- Comments(21)
now they want to drill off shore, just follow the money!!!one of these days we may have no choice but to drill in off shore and ANWAR but now it’s like a saving money in the bank
Senator Mitch McConnell (R-KY)
Accepted $301,908 from the oil and gas industry since 2000.
Supported the industry in 100% of selected votes.
Senator Jim Bunning (R-KY)
Accepted $119,269 from the oil and gas industry since 2000.
Supported the industry in 100% of selected votes.
Representative Edward Whitfield (R-KY01)
Accepted $108,361 from the oil and gas industry since 2000.
Supported the industry in 91% of selected votes.
oilmoney.priceofoil.org/truemajority.php?zip=42066
Kilowat, you forgot McCain.
McCain was pressed at an event in Missouri yesterday on the contributions he’d received from “big oil.” McCain said he didn’t know what the guy was talking about. As it turns out, “McCain does lead all other senators, and all others who ran for president, in contributions from the oil and gas industry, according to the Center for Responsive Politics’ analysis of federal data in the 2007-08 election cycle. McCain collected $724,000 through May.”
Speaking of lies, I don’t care what Mean Jean, Mary Matlin, and Dick Cheny say, THERE ARE NO RED COMMIE CHINESE DRILLING 60 MILES OFF THE COAST OF FLORIDIA! That is a damnn lie.
Oil Companies have drilling rights in millions of acres of federal land right now, not a freaking drill in sight!
Bush don’t need congress to allow offshore drilling, all it takes is reversing an executive order! He is helping McSAME with this politicl ploy!
DAMN we also forgot Anne Northup!
Congressman John Yarmuth attacked Anne Northup’s position on big oil in a release: “Anne Northup needs to come clean on her energy position. Today, she announced that she will continue to support the Bush policies that got us in this mess in the first place,” Congressman Yarmuth said. “She has over a half a million dollars in gas, oil and energy company stocks and continues to make a fortune off the high gas prices Louisville families are paying at the pump. She has funded her campaigns with over $300,000 from big oil. I answer only to the people of Louisville, and I will continue to put the needs of our families first. We have already enacted the most comprehensive energy reform policy in 30 years, and we will continue to advance innovative legislation that combats high energy costs and shifts to a more energy efficient economy.”
More republican LIES!
Geprge Will, The Wall Street Journal, and other talking heads are repeating Jhon McCain’s lie about offshore oil drilling being so safe that even hurricane Katrinia ripped up oil platforms without spilling a drop!
Anyone with half a memmory, who saw the satellite photos of the oil slick, knows this is a baldfaced lie. Gulf coast is still a mess.
I read the The Seminal blog entry you cite. It makes even less sense then the usual postings on DM*KY. The “reasons” given for increased drilling being a fraud are so internally inconsistent that they make one wince to think Mr. Rosenbaum may be a product of the American public school system.
1.Drilling offshore won’t increase supplies for several years. Well, if we had drilled in 1995 when Congress passed and Clinton vetoed the bill, we would be enjoying those benefits now. No one has said supplies would increase immediately. However, there are some who think that the political act of opening more American reserves might make middle eastern countries have second thoughts about how much they want to risk their market share by keeping prices artificially high, which may make them lower prices in the near term.
2. Rosenbaum states drilling offshore makes sense only if prices stay high, then admits that is most likely going to happen (some skilled debater he) In reality, its the exploration that’s expensive, once a reserve is tapped, extracting the oil is relatively inexpensive.
3. There isn’t much oil out there–Excuse me, but even if we use Mr. Rosenbaums figure of 2.5 years of oil (if the country relies only on the offshore reserves) thats a huge amount. Remember, this is being added to other sources, and not used as a sole source of oil.
4. There are no ships to carry the oil–Mr. Rosenbaum doesn’t know the difference between a drill rig and an oil tanker. Secondly, oil is not shipped from offshore rigs to shore by tanker, but rather undersea pipelines efficiently and safely carry the oil to shore terminals. Even if ships were used, in the 5-7 years it would take to get the offshore reserves into production, more ships could be built–but as I said, ships aren’t used.
Mr. Rosenbaum hasn’t the first inkling of how the global oil industry works, how the oil gets from the ground to the pump at the local filling station, or even of basic laws of economics unfortunately. This is not good information you are linking to, it is rather pitiful.
Mr. Rosenbaum’s bio states that he “is a writer and musician currently residing in Washington D.C. He is interested in the intersection of politics and culture, media consolidation issues, and making sense out of our foreign policy disasters.” He should stick to things he knows something about.
I am sure this post will never see the light of day, but sometimes one just has to say “Enough!”
Increased Domestic Drilling Activity Has Not Led To Lower Gasoline Prices
Since the 1990s, the federal government has consistently encouraged
the development of its oil and gas resources and the amount of drilling on
federal lands has steadily increased during this time. The number of drilling
permits has exploded in recent years, going from 3,802 five years ago to 7,561
in 2007.
Between 1999 and 2007, the number of drilling permits issued for
development of public lands increased by more than 361%, yet gasoline prices
have also risen dramatically (Figure 1) contradicting the argument that more
drilling means lower gasoline prices. There is simply no correlation between
the two.
http://resourcescommittee.house.gov/images/stories/Documents/truth_about_americas_energy.pdf
now tell me why oil co. sit on a lease and not drill?
DeFazio Takes on Oil Companies |
Legislation Would Require Companies to Develop Stockpiled Leases
Washington, D.C. – Congressman DeFazio (D-Springfield) took steps to combat oil prices when he joined with nine of his democratic colleagues last week and introduced H.R. 6251, the Responsible Federal Oil and Gas Lease Act of 2008. The measure is an effort to compel oil and gas companies to produce on the 68 million acres of federal lands, both onshore and offshore, that are leased but sitting idle. The legislation challenges oil companies to either “use it or lose it.”
“Americans are struggling to make ends meet and yet, Big Oil is restricting domestic production on federal leases and as a result, enjoying record profits,” DeFazio said. “This measure will put an end to it. We cannot continue to allow them to speculate and profiteer with public resources to the detriment of the American people.”
http://www.defazio.house.gov/index.php?option=content&task=view&id=406
Interested Observer, why would you assume your comment would be moderated? We do not censor comments unless they are blatantly bigoted/ad hominem attacks or spam.
I don’t think it takes a rocket scientist to understand the concept of supply-and-demand. I know who you seem to *think* we should trust on these matters (the oil men), and that’s gotten us nowhere but fleeced.
Florida’s Republican House Speaker calls McCain ‘disingenuous’ for linking drilling to gas prices.
Though he supports offshore drilling, Florida House Speaker Marco Rubio (R) “challenged Gov. Charlie Crist and John McCain’s implication that drilling could lower gas prices anytime soon.” Rubio told the Miami Herald today that Crist and McCain are making a “disingenuous” and “flawed” argument:
“For anyone to represent that someone drilling off the coast in Florida is going to lower gas prices here or anywhere in this country is disingenuous and a flawed argument,” he said. “Oil drilling could take 10 years before any oil is pulled out of the ground, and there are a large number of leases held by oil companies that are not being exploited now. We can’t say we need more until we’ve exploited those.”
Terri,
Thank you for your response. I have no connection to the oil companies and would subject any of their assertions to the same skepticism and scrutiny. I would note that compared to the gas prices in Europe, Americans appear to be getting a bargain, even at $4 per gallon. If we are getting fleeced, are the Europeans getting fleeced even more?
Actually, the federal gasoline tax of 18.4 cents per gallon is much more than the profit the oil company makes on that same gallon. Most states also add a tax in the same range. Who is the greater robber baron, the government or the oil company? If one does understand “supply and demand” then they would concede that given the same demand, an increase in supply will drive down prices. The companies that one hears referred to as “Big Oil” are actually the smaller players globally when compared to the Saudi Oil company, as well as the giant Russian and Chinese oil conglomerates. The American based firms really don’t control enough oil globally to be able to manipulate crude oil prices themselves. Referring to “Big Oil” is about as anachronistic as referring to the American auto manufacturers as the “Big Three” as far as dominance in the industry. It just is no longer the case. It is a global market with many non-American global players and an increasing global demand vying to purchase the same oil we are.
The very basic question is why are we then not allowing ourselves to increase our own domestic oil supply. Why is that such heresy? I do not see the problem there.
We are all seeing the results of the exporting of the manufacturing base of the United States economy. Prices rise because the value of the dollar falls as the United States no longer has the manufacturing base that it once had. The increased foreign demand for oil has caused higher prices because our legislature has knifed the United States citizen in the back and exported his or her liveyhood. A legistator elected by the people of the United States should represend the people of the United States. The buzz words of “Spreading Freedom”, “Creating Trading Partners”, and “Expanding Free Trade” are a cover for treason angainst the United States by the Senate and Congress. The foreign out sourcing of jobs is not trade and taxation of imports is not isolationism. Trade only occurs when there are not deficits.
have you ever looked at Gas futures, i have a friend who has been buying gas futures for the last six years, he started buying $1k now he up too $10k, he want say how much he has made this year in past years he was making good
http://www.infinitytrading.com/unleaded_gas_futures_options.html
Does anybody really believe this is a supply and demand issue, bullshit!
Demand hasn’t increased %33 in one year like the price of gasoline has.
http://www.hillbillyreport.com/blog/2007/05/big_oil_greed.html
http://www.hillbillyreport.com/blog/2008/04/think-prices-ar.html
You folks must think the American people take the same stupid pills that Don’t Drill Democrats take every morning. Ms Polsie and dingy Harry Reid promised that gas prices would come down. That was when they seized power in Jan of 2007. Even with my stupid pill I can realize that it costs$75 to fill my pickup now. It only Cost $45 to fill it in Jan 2007. DUH!!!
hey Sam what did it cost before chimp got in office in 2000. I see you didn’t read any of the post above, what wrong to much reading.give you one sentence at a time.
The number of drilling
“permits has exploded in recent years, going from 3,802 five years ago to 7,561
in 2007.” but where the saving ???
“You have such cheap gasoline–because in Europe they have those very high gas prices” He uses Europe as an example of how soft and cushy we Americans have it.
I’m not impressed.
Oil prices: Europe threatened with summer of discontent over rising cost of fuel
· Spanish and French truckers block border
· Coordinated action raises fears of food shortages
Concerns were growing last night over a summer of coordinated European fuel protests after tens of thousands of Spanish truckers blocked roads and the French border, sparking similar action in Portugal and France, while unions across Europe prepared fresh action over the rising price of petrol and diesel………….
BRUSSELS, BELGIUM - EUROPEAN Union leaders will ask the European Commission on Friday to study possible short-term tax measures to ease the pain of soaring oil prices …….
France has proposed capping value-added tax on petrol, Italy plans a windfall tax on oil company profits and Austria wants an EU tax on commodity speculation…………..
Oil prices have almost tripled in a year…..The EU insisted measures to cushion the blow of surging food and oil prices to low-income households must not distort price signals and cause ’second round effects on wages and prices’ that could start an inflationary spiral.
High oil prices are hurting the whole world. That is no excuse for argument for protecting BIG OIL anywhere.
Sixpack, while you’re at it, why not blame the Ds for the CA fires, the flood in Iowa, and deadly tornados we’ve had since they’ve taken office.
Anyone that truely blames the Democrats for the oil mess and thinks that drilling will somehow make the oil companies want less profits are either watching too much FOX news or taking way too many stupid pills.
I call This BIG OIL:
Record oil prices netted Exxon Mobil a $10.89 billion profit in the first three months of the year, sharply higher than a year earlier. Exxon’s $40.6 billion in net income in 2007 exceeded the company’s own record for profits for any US corporation.
Oil is up 7 fold ($140/7=$20) since the Republicans took office in 2001, while the US strategic oil reserves increased 10 fold. Bush/Cheney pumped more oil into a hole in the ground than drilling off Florida will net us in 7 years.
How can anyone with a grain of sense blame our gutless democrats for this?
The gasoline prices didn’t start to rise excessively until late 1999. This is the time when the United States started exporting its economy. The Anti-American Republicans call this “spreading freedom”, or “creating trading partners”. Of course both of these terms are lies and covers. We have exported a tremendous amount of manufacturing jobs to mainland China and the Government of mainland China is still a dictatorship. The stealing of American jobs and bribing China didn’t work. However we do have a Senator whose father-in-law is in the Shipping business and benefits greatly when jobs are exported.
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=22409
“One way” trade does not constitute free trade. There are no deficits in true free trade. What the export of the United States economy does do is cause an increased demand for oil world wide and a lower standard of living for all United States citizens. This is why you pay more for gasoline. The oil companies do not want the supply of oil to increase because it will cause their profits to drop. One only need to look at the investment portfolio of Exxon Eddie Whitfield to understand why he wants the prices of gasoline to stay high. McCain loves NAFTA and will export as many jobs as he can get his hands on if he is elected. I guarantee you if the United States quits spending money on foreign countries the price of gasoline will come down.
What is Democrat’s solution to our oil crisis? What the politicians are doing now and have done in the past is NOT working! It doesn’t take a genius to see that. All I hear is “we can’t do this” and “we can’t do that” and “this won’t work” and “Bush is evil”. Give me some solutions! This is the United States, and we can do anything. We don’t need to get the go ahead from politicians. After 2 years of Democratic majorities in both the House and Senate, we are in worse shape than we were before that… and after all their promises.
[SPAM PORTION OF COMMENT DELETED] Dick Morris, former political advisor to Clinton, says we need to do it all! Drill, wind, solar, hydroelectric, everything. We almost agree (except for the regulations on speculation… oil futures will adjust themselves once we have a coherent energy plan.)
Of all the comments, Disinterested Observer seems to have the most coherent response to this post. And facts are on his side. The rest of you are tilting at windmills and need to get some common sense.