TODAY’S ENRON
ONE PIECE OF LEGISLATION IS WHY OIL IS THROUGH THE ROOF
Lay, DeLay, Gramm, Gramm & Clinton
PART ONE
http://www.star-telegram.com/104/story/651928.html
PART TWO
http://www.star-telegram.com/ed_wallace/story/659081.html
Republicans offer the same old tired slogans that they have touted throughout the Bush years and that haven’t done anything to combat the increase in gas prices
- More Drilling: Domestic drilling has not led to lower prices. Since 2000, drilling has increased dramatically – climbing about 66 percent– while gas prices continue to increase. and gas companies have shown that they cannot keep pace with the rate of drilling permits that the federal government is handing out – over the past 4 years they have received and are sitting on nearly 10,000 permits that they aren’t using to increase domestic production. Since 1999, drilling permits for oil and gas development on public lands increased more than 361 percent.
- OCS: The vast majority of federal oil and gas resources located on the OCS are already open for development - of all the oil and gas believed to exist on the OCS, nearly 80% of oil and 82% of natural gas is located in areas already open for leasing. In 2006, the federal government opened 8.3 million new acres in the Gulf of Mexico to drilling, yet gasoline prices have increased by $1.69 per gallon. Only 10.5 million of the 44 million leased offshore acres are actually producing oil or gas.
- Open ANWR: EIA estimates that if we open ANWR today, twenty years down the road, at peak production, gas prices would be lowered at the maximum by $1.44 per barrel, which translates to only a few cents a gallon. Increased conservation and the use of alternative technologies in the last three years have cut the projected need for imported oil between now and 2050 by more than 100 billion barrels (EIA) – ten times more benefit than what we might be able to get a decade from now from ANWR.
- More Refineries: We have excess refining capacity. Last week, our refineries were running at 89% capacity – well below the 95-98% capacity use rates we’ve seen this time of year for the last decade. Republicans argue that environmental regulations are preventing new refineries from being built in the U.S. From 1975 to 2000, the U.S. Environmental Protection Agency (EPA) received only one permit request for a new refinery, which was approved. In addition, oil companies are regularly applying for – and receiving – permits to modify and expand their existing refineries.
Republicans and Democrats have a fundamentally different approach to tackling high gas prices. Democrats are being aggressive today to lower prices and reduce dependence on foreign oil while thinking ahead to tomorrow
- Working to Address Rising Gas Prices
- Enacted legislation to increase oil supply by temporarily suspending the fill of the Strategic Petroleum Reserve, the nation’s crude oil stockpile. (H.R. 6022)
- Gave the FTC new authority to crack down on those manipulating wholesale energy markets to keep prices high in the Energy Independence and Security Act (H.R. 6)
- Approved the Gas Price Relief for Consumers Act (H.R. 6074) to hold the OPEC monopoly accountable for price fixing that flouts the free market and artificially drives up the cost of crude oil.
- Passed the Federal Price Gouging Prevention Act (H.R. 1252) to investigate price gouging by retailers who may be using the cover of high prices to unfairly inflate their rates even further.
- Investing in a Sustainable, Energy Independent America
- Enacted the landmark Energy Independence and Security Act (H.R. 6) that raised vehicle fuel efficiency for the first time in 32 years and increased the renewable fuels standard.
- Passed the Renewable Energy and Energy Conservation Act (H.R. 5351) to end unnecessary subsidies to oil companies making record profits and invest in clean, renewable energy and energy efficiency.
- Approved the Renewable Energy and Job Creation Act (H.R. 6049) to renew and expand tax incentives for renewable energy.
- Passed the Food and Energy Security Act (H.R. 2419) that promotes the development of biofuels, including those from non-corn sources.
If costs go up then of course prices go up. But why then would profits go up? Shouldn’t it be a wash? YEP
But here’s another wrinkle…the cost for Middle East oil producers hasn’t gone up!
FACT
Oil executives and speculators are getting rich on the backs of American consumers. Indeed, on average, it costs a company such as ExxonMobil about $20 to extract a barrel of oil, which in turn is sold for more than $115 a barrel. Refiner profit margins have also been soaring at vertically integrated oil companies, which helps explain how the largest five oil companies in America have posted more than $550 billion in profits since 2001
http://www.citizen.org/pressroom/release.cfm?ID=2650
John McCain doesn’t think it’s “too important” when and if our troops ever come home. Just as long as they stop getting themselves killed over there!
Iraq and Iran have met and agree the Number One impediment to progress there is the presence of US Troops. Whose out of touch now Grandpa?
New polling shows Obama beating McCain in the General Election, but remember it’s just a snapshot in time. We have work to do. Right wing Talk Shows are smearing Obama everyday with lies and even allegations of “terrorist hand signals”. Sheesh. Desperate men do desperate things. Obama has set up a website for you to report any smears and to fact check the ones that are already out there.
http://my.barackobama.com/page/content/fightthesmearshome/
And I’ve included a little IQ test for you today. Test your Candidate IQ!
Grandpa
http://www.chicagotribune.com/news/nationw...8938.triviaquiz
Obama
http://www.chicagotribune.com/news/politic...5895.triviaquiz
HOMEWORK
Head ot the FTC was an Exxon Mobil lawyer until 2005
http://www.davidsirota.com/2005/09/bush-ha...er-head-up.html
Currently the Head of the FTC is William E. Kovacic who has done nothing with the new authority Congress gave him in 2007
http://www.examiner.com/p-154031~Pelosi__H...Gas_Prices.html
DUMB JOHN MCCAIN QUOTES
http://politicalhumor.about.com/od/johnmcc.../mccainisms.htm
GRANDPA MCCAIN
When the troops come home “is not too important”
http://dyn.politico.com/printstory.cfm?uui...0FCEB1FBD6E78F5
Here’s Senator John Kerry’s response AND Senator John Thune’s attempt at damage control
http://www.msnbc.msn.com/id/21134540/vp/25104803#25105147
IRAQ AND IRAN TALK
THE NUMBER ONE PROBLEM IS THE PRESENCE OF AMERICAN TROOPS
http://www.startribune.com/templates/Print...ry?sid=19693889
Americans ask “IS THERE PROGRESS IN IRAQ?” Answer - No one knows
http://www.csmonitor.com/2008/0610/p03s01-usfp.html
Obama widens lead against John McCain
http://online.wsj.com/article/SB1213220486...s_us_whats_news
Sen. Obama leads among independent voters, 41% to 36%.
http://www.realclearpolitics.com/epolls/20...olls/index.html
Most women however do not know that Granpa’s position on ROE v WADE is to ABOLISH it completely.
http://www.msnbc.msn.com/id/21134540/vp/25095111#25095111
Senator Obama has a new website to fight the smears and rumours that are spread about him and his wife Michelle. If you see something SAY something.
http://my.barackobama.com/page/content/fightthesmearshome/
http://www.time.com/time/politics/article/...1813663,00.html
Full Version: Thursday, June 12, 2008
In addition to this homework, National Geographic did a good special issue report on these topics back in 2004:
http://ngm.nationalgeographic.com/ngm/0406/feature5/
http://ngm.nationalgeographic.com/ngm/0406/feature5/
QUOTE
The End of Cheap Oil
By Tim AppenzellerPhotographs by Sarah Leen
It's inevitable. But just how soon will the vital fuel become so scarce and expensive that we're forced to make hard choices about how we live?
Get a taste of what awaits you in print from this compelling excerpt.
Below more than a mile of ocean and three more of mud and rock, the prize is waiting. At the surface a massive drilling vessel called the Discoverer Enterprise strains to reach it. It's the spring of 2003, and for more than two months now the Enterprise has been holding steady over a spot 120 miles (200 kilometers) southeast of New Orleans in the Gulf of Mexico. The ship is driving a well toward an estimated one billion barrels of oil below the seafloor—the biggest oil field discovered in United States territory in three decades.
The 835-foot (255-meter) Enterprise shudders every few minutes as its thrusters put out a burst of power to fight the strong current. The PA system crackles, warning of small amounts of gas bubbling from the deep Earth. And in the shadow of the 23-story-tall derrick, engineers and managers gather in worried knots. "We've got an unstable hole," laments Bill Kirton, who's overseeing the project for the oil giant BP.
The drill, suspended from the Enterprise's derrick through a swimming-pool-size gap in the hull, has penetrated 17,000 feet (5,000 meters) below the seafloor. Instead of boring straight down, it has swerved more than a mile sideways, around a massive plume of rock salt. But now, with 2,000 feet (600 meters) to go, progress is stalled. Water has begun seeping into the well from the surrounding rock, and the engineers are determined to stem its spread before drilling farther. Otherwise, the trickle of water could turn into an uncontrolled surge of crude. "There's a lot of oil down there wanting to come out," says Cecil Cheshier, a drilling supervisor, after struggling all night with the unruly hole. "You can cut corners and take chances—but that could cost you a lawsuit or cause a spill into the Gulf of Mexico, and then deepwater drilling gets shut down."
The troubled well is just one of 25 that BP plans to drill in the giant field, called Thunder Horse, which sprawls over 54 square miles (140 square kilometers) of seafloor. The entire project, including a floating platform half again as wide as a football field that will collect the oil from individual wells and pipe it to shore starting next year, will cost four billion dollars. But if the wells live up to expectations, each will eventually gush tens of thousands of barrels a day. "That's like a well in Saudi Arabia," says Cheshier. "We hardly get those in the U.S. anymore."
You wouldn't know it from the hulking SUVs and traffic-clogged freeways of the United States, but we're in the twilight of plentiful oil. There's no global shortage yet; far from it. The world can still produce so much crude that the current price of about $30 for a 42-gallon barrel would plummet if the Organization of the Petroleum Exporting Countries (OPEC) did not limit production. This abundance of oil means, for now, that oil is cheap. In the United States, where gasoline taxes average 43 cents a gallon (instead of dollars, as in Europe and Japan), a gallon of gasoline can be cheaper than a bottle of water—making it too cheap for most people to bother conserving. While oil demand is up everywhere, the U.S. remains the king of consumers, slurping up a quarter of the world's oil—about three gallons a person every day—even though it has just 5 percent of the population.
By Tim AppenzellerPhotographs by Sarah Leen
It's inevitable. But just how soon will the vital fuel become so scarce and expensive that we're forced to make hard choices about how we live?
Get a taste of what awaits you in print from this compelling excerpt.
Below more than a mile of ocean and three more of mud and rock, the prize is waiting. At the surface a massive drilling vessel called the Discoverer Enterprise strains to reach it. It's the spring of 2003, and for more than two months now the Enterprise has been holding steady over a spot 120 miles (200 kilometers) southeast of New Orleans in the Gulf of Mexico. The ship is driving a well toward an estimated one billion barrels of oil below the seafloor—the biggest oil field discovered in United States territory in three decades.
The 835-foot (255-meter) Enterprise shudders every few minutes as its thrusters put out a burst of power to fight the strong current. The PA system crackles, warning of small amounts of gas bubbling from the deep Earth. And in the shadow of the 23-story-tall derrick, engineers and managers gather in worried knots. "We've got an unstable hole," laments Bill Kirton, who's overseeing the project for the oil giant BP.
The drill, suspended from the Enterprise's derrick through a swimming-pool-size gap in the hull, has penetrated 17,000 feet (5,000 meters) below the seafloor. Instead of boring straight down, it has swerved more than a mile sideways, around a massive plume of rock salt. But now, with 2,000 feet (600 meters) to go, progress is stalled. Water has begun seeping into the well from the surrounding rock, and the engineers are determined to stem its spread before drilling farther. Otherwise, the trickle of water could turn into an uncontrolled surge of crude. "There's a lot of oil down there wanting to come out," says Cecil Cheshier, a drilling supervisor, after struggling all night with the unruly hole. "You can cut corners and take chances—but that could cost you a lawsuit or cause a spill into the Gulf of Mexico, and then deepwater drilling gets shut down."
The troubled well is just one of 25 that BP plans to drill in the giant field, called Thunder Horse, which sprawls over 54 square miles (140 square kilometers) of seafloor. The entire project, including a floating platform half again as wide as a football field that will collect the oil from individual wells and pipe it to shore starting next year, will cost four billion dollars. But if the wells live up to expectations, each will eventually gush tens of thousands of barrels a day. "That's like a well in Saudi Arabia," says Cheshier. "We hardly get those in the U.S. anymore."
You wouldn't know it from the hulking SUVs and traffic-clogged freeways of the United States, but we're in the twilight of plentiful oil. There's no global shortage yet; far from it. The world can still produce so much crude that the current price of about $30 for a 42-gallon barrel would plummet if the Organization of the Petroleum Exporting Countries (OPEC) did not limit production. This abundance of oil means, for now, that oil is cheap. In the United States, where gasoline taxes average 43 cents a gallon (instead of dollars, as in Europe and Japan), a gallon of gasoline can be cheaper than a bottle of water—making it too cheap for most people to bother conserving. While oil demand is up everywhere, the U.S. remains the king of consumers, slurping up a quarter of the world's oil—about three gallons a person every day—even though it has just 5 percent of the population.
Yep, got all that, the gop pricks enjoy this so much they'll fight to the death to keep it going, and they have.
I totally agree with Randi Rhodes (not to mention Thom Hartmann and Ron Wyden) that gas prices are being manipulated by the energy traders and energy company executives. In fact the former Enron traders are doing just that and making a bundle. If this turns out to be true after the investigations that hopefully are forthcoming, we (the american public being screwed) should be able to file a class-action lawsuit against said traders, oil company executives, and those responsible for energy policy throughout the Bush Administration. Why should this not be possible?
PS, here's a 2007 article giving the name of a new energy trading firm that is very active in this area: http://www.nytimes.com/2006/01/15/business.../G/Gas%20(Fuel)
and http://blog.kir.com/archives/Enron%20Reten...%20decision.pdf shows the names of the former Enron energy traders who had to pay back bonuses. (I know one of them IS a major investor in the "new energy trading firm.")
PS, here's a 2007 article giving the name of a new energy trading firm that is very active in this area: http://www.nytimes.com/2006/01/15/business.../G/Gas%20(Fuel)
and http://blog.kir.com/archives/Enron%20Reten...%20decision.pdf shows the names of the former Enron energy traders who had to pay back bonuses. (I know one of them IS a major investor in the "new energy trading firm.")
"they're racist bastrds"
The oil men in the Oval Office(the toilet) are going to rape us till they leave office. I am just curious if America will prosecute these criminals. If we don't, that is the end of the experiement called America.
Randi's information today has blown my mind!! I spent the whole time I was reading the information going WTF!!
Love You Randi, The Challenge to Americans should be your main slogan!
As an American marrried to a Canadian, and seeing out of the box, some would say is slightly true, but our economy up here is so tied into the US Economy, is an understatement.
The Real Challenge to some Americans is Time to deal with the Real Issues and Cause.
Thinking and Searching for Truths and put aside the minor differences and regain the common issues, no matter what they have been brain washed to think.
The Hollywood (no offense) hype of the media without substances is what has destroyed the individualistic mind.
The Uniting Campaign of Senator Obama has hit a core - not only in the States but around the world.
Senator Obama and Michelle has given the masses someone to identify with! Millions of people working to achieve without the, financially $$$ backing, and hold their heads up!
As an American marrried to a Canadian, and seeing out of the box, some would say is slightly true, but our economy up here is so tied into the US Economy, is an understatement.
The Real Challenge to some Americans is Time to deal with the Real Issues and Cause.
Thinking and Searching for Truths and put aside the minor differences and regain the common issues, no matter what they have been brain washed to think.
The Hollywood (no offense) hype of the media without substances is what has destroyed the individualistic mind.
The Uniting Campaign of Senator Obama has hit a core - not only in the States but around the world.
Senator Obama and Michelle has given the masses someone to identify with! Millions of people working to achieve without the, financially $$$ backing, and hold their heads up!
QUOTE (meNOTme @ Jun 12 2008, 02:54 PM) 
and http://blog.kir.com/archives/Enron%20Reten...%20decision.pdf shows the names of the former Enron energy traders who had to pay back bonuses. (I know one of them IS a major investor in the "new energy trading firm.")
Right, if you dig a little deeper, you may find that Ken ley, a Bush Family friend, was also a big contributor to the Bush/Cheney Transition team. I think Ley gave something like 400k to the Bush/Cheney Transition Team. There was one documentary done on enron which showed ties to the Bush Family. My mind always looks for links like birds of a feather sticking together. Karl Rove was head of the Bush/Cheney Transition Team. Manipulating California power grids for profit was said to be an enron trader trick so speculating on Oil futures for profit through devious means is not a long shot in my world. Anyway, I guess dead men tell no tales. It's just that to me, one shell like a walnut contains alot of nuts.
QUOTE (RandiRhodes @ Jun 12 2008, 01:36 PM)
TODAY’S ENRON
ONE PIECE OF LEGISLATION IS WHY OIL IS THROUGH THE ROOF
Lay, DeLay, Gramm, Gramm & Clinton
PART ONE
http://www.star-telegram.com/104/story/651928.html
PART TWO
http://www.star-telegram.com/ed_wallace/story/659081.html
Republicans offer the same old tired slogans that they have touted throughout the Bush years and that haven’t done anything to combat the increase in gas prices
- More Drilling: Domestic drilling has not led to lower prices. Since 2000, drilling has increased dramatically – climbing about 66 percent– while gas prices continue to increase. and gas companies have shown that they cannot keep pace with the rate of drilling permits that the federal government is handing out – over the past 4 years they have received and are sitting on nearly 10,000 permits that they aren’t using to increase domestic production. Since 1999, drilling permits for oil and gas development on public lands increased more than 361 percent.
- OCS: The vast majority of federal oil and gas resources located on the OCS are already open for development - of all the oil and gas believed to exist on the OCS, nearly 80% of oil and 82% of natural gas is located in areas already open for leasing. In 2006, the federal government opened 8.3 million new acres in the Gulf of Mexico to drilling, yet gasoline prices have increased by $1.69 per gallon. Only 10.5 million of the 44 million leased offshore acres are actually producing oil or gas.
- Open ANWR: EIA estimates that if we open ANWR today, twenty years down the road, at peak production, gas prices would be lowered at the maximum by $1.44 per barrel, which translates to only a few cents a gallon. Increased conservation and the use of alternative technologies in the last three years have cut the projected need for imported oil between now and 2050 by more than 100 billion barrels (EIA) – ten times more benefit than what we might be able to get a decade from now from ANWR.
- More Refineries: We have excess refining capacity. Last week, our refineries were running at 89% capacity – well below the 95-98% capacity use rates we’ve seen this time of year for the last decade. Republicans argue that environmental regulations are preventing new refineries from being built in the U.S. From 1975 to 2000, the U.S. Environmental Protection Agency (EPA) received only one permit request for a new refinery, which was approved. In addition, oil companies are regularly applying for – and receiving – permits to modify and expand their existing refineries.
Republicans and Democrats have a fundamentally different approach to tackling high gas prices. Democrats are being aggressive today to lower prices and reduce dependence on foreign oil while thinking ahead to tomorrow
- Working to Address Rising Gas Prices
- Enacted legislation to increase oil supply by temporarily suspending the fill of the Strategic Petroleum Reserve, the nation’s crude oil stockpile. (H.R. 6022)
- Gave the FTC new authority to crack down on those manipulating wholesale energy markets to keep prices high in the Energy Independence and Security Act (H.R. 6)
- Approved the Gas Price Relief for Consumers Act (H.R. 6074) to hold the OPEC monopoly accountable for price fixing that flouts the free market and artificially drives up the cost of crude oil.
- Passed the Federal Price Gouging Prevention Act (H.R. 1252) to investigate price gouging by retailers who may be using the cover of high prices to unfairly inflate their rates even further.
- Investing in a Sustainable, Energy Independent America
- Enacted the landmark Energy Independence and Security Act (H.R. 6) that raised vehicle fuel efficiency for the first time in 32 years and increased the renewable fuels standard.
- Passed the Renewable Energy and Energy Conservation Act (H.R. 5351) to end unnecessary subsidies to oil companies making record profits and invest in clean, renewable energy and energy efficiency.
- Approved the Renewable Energy and Job Creation Act (H.R. 6049) to renew and expand tax incentives for renewable energy.
- Passed the Food and Energy Security Act (H.R. 2419) that promotes the development of biofuels, including those from non-corn sources.
If costs go up then of course prices go up. But why then would profits go up? Shouldn’t it be a wash? YEP
But here’s another wrinkle…the cost for Middle East oil producers hasn’t gone up!
FACT
Oil executives and speculators are getting rich on the backs of American consumers. Indeed, on average, it costs a company such as ExxonMobil about $20 to extract a barrel of oil, which in turn is sold for more than $115 a barrel. Refiner profit margins have also been soaring at vertically integrated oil companies, which helps explain how the largest five oil companies in America have posted more than $550 billion in profits since 2001
http://www.citizen.org/pressroom/release.cfm?ID=2650
John McCain doesn’t think it’s “too important” when and if our troops ever come home. Just as long as they stop getting themselves killed over there!
Iraq and Iran have met and agree the Number One impediment to progress there is the presence of US Troops. Whose out of touch now Grandpa?
New polling shows Obama beating McCain in the General Election, but remember it’s just a snapshot in time. We have work to do. Right wing Talk Shows are smearing Obama everyday with lies and even allegations of “terrorist hand signals”. Sheesh. Desperate men do desperate things. Obama has set up a website for you to report any smears and to fact check the ones that are already out there.
http://my.barackobama.com/page/content/fightthesmearshome/
And I’ve included a little IQ test for you today. Test your Candidate IQ!
Grandpa
http://www.chicagotribune.com/news/nationw...8938.triviaquiz
Obama
http://www.chicagotribune.com/news/politic...5895.triviaquiz
HOMEWORK
Head ot the FTC was an Exxon Mobil lawyer until 2005
http://www.davidsirota.com/2005/09/bush-ha...er-head-up.html
Currently the Head of the FTC is William E. Kovacic who has done nothing with the new authority Congress gave him in 2007
http://www.examiner.com/p-154031~Pelosi__H...Gas_Prices.html
DUMB JOHN MCCAIN QUOTES
http://politicalhumor.about.com/od/johnmcc.../mccainisms.htm
GRANDPA MCCAIN
When the troops come home “is not too important”
http://dyn.politico.com/printstory.cfm?uui...0FCEB1FBD6E78F5
Here’s Senator John Kerry’s response AND Senator John Thune’s attempt at damage control
http://www.msnbc.msn.com/id/21134540/vp/25104803#25105147
IRAQ AND IRAN TALK
THE NUMBER ONE PROBLEM IS THE PRESENCE OF AMERICAN TROOPS
http://www.startribune.com/templates/Print...ry?sid=19693889
Americans ask “IS THERE PROGRESS IN IRAQ?” Answer - No one knows
http://www.csmonitor.com/2008/0610/p03s01-usfp.html
Obama widens lead against John McCain
http://online.wsj.com/article/SB1213220486...s_us_whats_news
Sen. Obama leads among independent voters, 41% to 36%.
http://www.realclearpolitics.com/epolls/20...olls/index.html
Most women however do not know that Granpa’s position on ROE v WADE is to ABOLISH it completely.
http://www.msnbc.msn.com/id/21134540/vp/25095111#25095111
Senator Obama has a new website to fight the smears and rumours that are spread about him and his wife Michelle. If you see something SAY something.
http://my.barackobama.com/page/content/fightthesmearshome/
http://www.time.com/time/politics/article/...1813663,00.html
ONE PIECE OF LEGISLATION IS WHY OIL IS THROUGH THE ROOF
Lay, DeLay, Gramm, Gramm & Clinton
PART ONE
http://www.star-telegram.com/104/story/651928.html
PART TWO
http://www.star-telegram.com/ed_wallace/story/659081.html
Republicans offer the same old tired slogans that they have touted throughout the Bush years and that haven’t done anything to combat the increase in gas prices
- More Drilling: Domestic drilling has not led to lower prices. Since 2000, drilling has increased dramatically – climbing about 66 percent– while gas prices continue to increase. and gas companies have shown that they cannot keep pace with the rate of drilling permits that the federal government is handing out – over the past 4 years they have received and are sitting on nearly 10,000 permits that they aren’t using to increase domestic production. Since 1999, drilling permits for oil and gas development on public lands increased more than 361 percent.
- OCS: The vast majority of federal oil and gas resources located on the OCS are already open for development - of all the oil and gas believed to exist on the OCS, nearly 80% of oil and 82% of natural gas is located in areas already open for leasing. In 2006, the federal government opened 8.3 million new acres in the Gulf of Mexico to drilling, yet gasoline prices have increased by $1.69 per gallon. Only 10.5 million of the 44 million leased offshore acres are actually producing oil or gas.
- Open ANWR: EIA estimates that if we open ANWR today, twenty years down the road, at peak production, gas prices would be lowered at the maximum by $1.44 per barrel, which translates to only a few cents a gallon. Increased conservation and the use of alternative technologies in the last three years have cut the projected need for imported oil between now and 2050 by more than 100 billion barrels (EIA) – ten times more benefit than what we might be able to get a decade from now from ANWR.
- More Refineries: We have excess refining capacity. Last week, our refineries were running at 89% capacity – well below the 95-98% capacity use rates we’ve seen this time of year for the last decade. Republicans argue that environmental regulations are preventing new refineries from being built in the U.S. From 1975 to 2000, the U.S. Environmental Protection Agency (EPA) received only one permit request for a new refinery, which was approved. In addition, oil companies are regularly applying for – and receiving – permits to modify and expand their existing refineries.
Republicans and Democrats have a fundamentally different approach to tackling high gas prices. Democrats are being aggressive today to lower prices and reduce dependence on foreign oil while thinking ahead to tomorrow
- Working to Address Rising Gas Prices
- Enacted legislation to increase oil supply by temporarily suspending the fill of the Strategic Petroleum Reserve, the nation’s crude oil stockpile. (H.R. 6022)
- Gave the FTC new authority to crack down on those manipulating wholesale energy markets to keep prices high in the Energy Independence and Security Act (H.R. 6)
- Approved the Gas Price Relief for Consumers Act (H.R. 6074) to hold the OPEC monopoly accountable for price fixing that flouts the free market and artificially drives up the cost of crude oil.
- Passed the Federal Price Gouging Prevention Act (H.R. 1252) to investigate price gouging by retailers who may be using the cover of high prices to unfairly inflate their rates even further.
- Investing in a Sustainable, Energy Independent America
- Enacted the landmark Energy Independence and Security Act (H.R. 6) that raised vehicle fuel efficiency for the first time in 32 years and increased the renewable fuels standard.
- Passed the Renewable Energy and Energy Conservation Act (H.R. 5351) to end unnecessary subsidies to oil companies making record profits and invest in clean, renewable energy and energy efficiency.
- Approved the Renewable Energy and Job Creation Act (H.R. 6049) to renew and expand tax incentives for renewable energy.
- Passed the Food and Energy Security Act (H.R. 2419) that promotes the development of biofuels, including those from non-corn sources.
If costs go up then of course prices go up. But why then would profits go up? Shouldn’t it be a wash? YEP
But here’s another wrinkle…the cost for Middle East oil producers hasn’t gone up!
FACT
Oil executives and speculators are getting rich on the backs of American consumers. Indeed, on average, it costs a company such as ExxonMobil about $20 to extract a barrel of oil, which in turn is sold for more than $115 a barrel. Refiner profit margins have also been soaring at vertically integrated oil companies, which helps explain how the largest five oil companies in America have posted more than $550 billion in profits since 2001
http://www.citizen.org/pressroom/release.cfm?ID=2650
John McCain doesn’t think it’s “too important” when and if our troops ever come home. Just as long as they stop getting themselves killed over there!
Iraq and Iran have met and agree the Number One impediment to progress there is the presence of US Troops. Whose out of touch now Grandpa?
New polling shows Obama beating McCain in the General Election, but remember it’s just a snapshot in time. We have work to do. Right wing Talk Shows are smearing Obama everyday with lies and even allegations of “terrorist hand signals”. Sheesh. Desperate men do desperate things. Obama has set up a website for you to report any smears and to fact check the ones that are already out there.
http://my.barackobama.com/page/content/fightthesmearshome/
And I’ve included a little IQ test for you today. Test your Candidate IQ!
Grandpa
http://www.chicagotribune.com/news/nationw...8938.triviaquiz
Obama
http://www.chicagotribune.com/news/politic...5895.triviaquiz
HOMEWORK
Head ot the FTC was an Exxon Mobil lawyer until 2005
http://www.davidsirota.com/2005/09/bush-ha...er-head-up.html
Currently the Head of the FTC is William E. Kovacic who has done nothing with the new authority Congress gave him in 2007
http://www.examiner.com/p-154031~Pelosi__H...Gas_Prices.html
DUMB JOHN MCCAIN QUOTES
http://politicalhumor.about.com/od/johnmcc.../mccainisms.htm
GRANDPA MCCAIN
When the troops come home “is not too important”
http://dyn.politico.com/printstory.cfm?uui...0FCEB1FBD6E78F5
Here’s Senator John Kerry’s response AND Senator John Thune’s attempt at damage control
http://www.msnbc.msn.com/id/21134540/vp/25104803#25105147
IRAQ AND IRAN TALK
THE NUMBER ONE PROBLEM IS THE PRESENCE OF AMERICAN TROOPS
http://www.startribune.com/templates/Print...ry?sid=19693889
Americans ask “IS THERE PROGRESS IN IRAQ?” Answer - No one knows
http://www.csmonitor.com/2008/0610/p03s01-usfp.html
Obama widens lead against John McCain
http://online.wsj.com/article/SB1213220486...s_us_whats_news
Sen. Obama leads among independent voters, 41% to 36%.
http://www.realclearpolitics.com/epolls/20...olls/index.html
Most women however do not know that Granpa’s position on ROE v WADE is to ABOLISH it completely.
http://www.msnbc.msn.com/id/21134540/vp/25095111#25095111
Senator Obama has a new website to fight the smears and rumours that are spread about him and his wife Michelle. If you see something SAY something.
http://my.barackobama.com/page/content/fightthesmearshome/
http://www.time.com/time/politics/article/...1813663,00.html
Hi Randi,
I enjoy your show.
If the Chinese aren't drilling in Cuba or off the coast of Cuba, then we should.
If Bush spreads his version of freedom to Cuba, then we can take their oil.
Could this be a trial balloon for an intervention in Cuba? There has been a history behind such actions.
Also the Cuban health care coverage and literacy rate make us look bad.
Thanks
Stephen
I enjoy your show.
If the Chinese aren't drilling in Cuba or off the coast of Cuba, then we should.
If Bush spreads his version of freedom to Cuba, then we can take their oil.
Could this be a trial balloon for an intervention in Cuba? There has been a history behind such actions.
Also the Cuban health care coverage and literacy rate make us look bad.
Thanks
Stephen
Randi,
Other geek-girls need you to provide sourcing for your information! In the section beginning with "Republicans offer the same old tired slogans..." there are a whole string of unsourced facts - not only do I, like you, need to read the originals myself, but considering the number of attorneys in my family I need the sourcing on data in order to have any chance of convincing them.
Thanks for all you do!
Other geek-girls need you to provide sourcing for your information! In the section beginning with "Republicans offer the same old tired slogans..." there are a whole string of unsourced facts - not only do I, like you, need to read the originals myself, but considering the number of attorneys in my family I need the sourcing on data in order to have any chance of convincing them.
Thanks for all you do!
What I meant to really say was:
1. Bush really has passed the largest tax ever on to the American people...by coddling and rewarding major oil companies, the Saudis, invading Iraq, etc, he guaranteed gargantuan profits (because of volatility in oil prices) and that his friends would be handsomely rewarded. Check out how revenues, profits and total shareholder returns have increased for oil and gas companies since 9/11/2001 and you will see an amazing set of facts. Let the "FREE MARKET RULE" really means let's loosen the strings, configure forces to disrupt the free market and let our friends make huge profits. Americans really need to see this very big set of lies. Furhter, we need to stop using our military to protect only our energy interests...
I AM IN FAVOR OF LETTING THE BIG OILS AND OTHERS BE PUNISHED BECAUSE THE MARKET DID NOT REALLY ACT IN A FREE WAY; IT WAS MANIPULATED FOR THE BENEFIT OF BIG OIL AND THEY HAVE MADE A TON OF MONEY SINCE 01.
2. Read "Out of Gas" by David Goodstein. We have reached and gone past the "peak oil" curve, identified by M.K. Hubbard in the 1960s. That is one of the primary reasons we are experiencing higher oil prices (Bush simply added a dash of war and a bunch of volatility to really allow some windfall profits) beacuse we are using more than they can grow supply. We will run out of oil, in spite of what the babblers on Fox News and CNN might say. We need to find alternatives now, in the face of a lot of yelling and screaming by Exxon and other members os the "Devil's Blood Society". Oil is becoming economically, environmentally and socially untenebale.
WINDFALL PROFIT TAXES MUST FUND ENTREPRENUERS WHO SEEK NEW ALTERNATIVE ENERGY AND TECNOLOGIES THAT MOVE US OFF (GRADUALLY) OIL, GAS AND COAL. THE FOSSIL FUELS AGE IS COMING TO AN END, BUT IT MUST END.
1. Bush really has passed the largest tax ever on to the American people...by coddling and rewarding major oil companies, the Saudis, invading Iraq, etc, he guaranteed gargantuan profits (because of volatility in oil prices) and that his friends would be handsomely rewarded. Check out how revenues, profits and total shareholder returns have increased for oil and gas companies since 9/11/2001 and you will see an amazing set of facts. Let the "FREE MARKET RULE" really means let's loosen the strings, configure forces to disrupt the free market and let our friends make huge profits. Americans really need to see this very big set of lies. Furhter, we need to stop using our military to protect only our energy interests...
I AM IN FAVOR OF LETTING THE BIG OILS AND OTHERS BE PUNISHED BECAUSE THE MARKET DID NOT REALLY ACT IN A FREE WAY; IT WAS MANIPULATED FOR THE BENEFIT OF BIG OIL AND THEY HAVE MADE A TON OF MONEY SINCE 01.
2. Read "Out of Gas" by David Goodstein. We have reached and gone past the "peak oil" curve, identified by M.K. Hubbard in the 1960s. That is one of the primary reasons we are experiencing higher oil prices (Bush simply added a dash of war and a bunch of volatility to really allow some windfall profits) beacuse we are using more than they can grow supply. We will run out of oil, in spite of what the babblers on Fox News and CNN might say. We need to find alternatives now, in the face of a lot of yelling and screaming by Exxon and other members os the "Devil's Blood Society". Oil is becoming economically, environmentally and socially untenebale.
WINDFALL PROFIT TAXES MUST FUND ENTREPRENUERS WHO SEEK NEW ALTERNATIVE ENERGY AND TECNOLOGIES THAT MOVE US OFF (GRADUALLY) OIL, GAS AND COAL. THE FOSSIL FUELS AGE IS COMING TO AN END, BUT IT MUST END.
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