RedScare Posted May 23, 2007 Share Posted May 23, 2007 http://www.chron.com/disp/story.mpl/front/4828035.htmlBoy, this doesn't sound like an intelligent move. OPEC may be hated for its ability to influence oil prices, but with only a 1 million barrel per day cushion (out of 85 million bpd production), it would only take a small retaliatory strike by OPEC to throw the oil markets into turmoil. Bush is in the strange position of siding with OPEC to veto the bill.While I agree with the veto, the hue and cry will be amusing to watch. Link to comment Share on other sites More sharing options...
MidtownCoog Posted May 23, 2007 Share Posted May 23, 2007 The Dems are all over the place with the Oil Phobia. Link to comment Share on other sites More sharing options...
RedScare Posted May 23, 2007 Author Share Posted May 23, 2007 The Dems are all over the place with the Oil Phobia.The GOP voted 2 to 1 in favor as well. Link to comment Share on other sites More sharing options...
CDeb Posted May 23, 2007 Share Posted May 23, 2007 Cavaney argued that lawmakers could likewise be accused of withholding oil production, since they have refused to let operators drill off most of the nation's coastline."They're criticizing others for the very actions they've done," Cavaney said.DING DING DING!!!!!This bill is too stupid for words. Link to comment Share on other sites More sharing options...
woolie Posted May 23, 2007 Share Posted May 23, 2007 In a perverse way, I'm all for actions that increase the price of petroleum and other fossil fuels. $9 gas is the only way we will become weaned of our addiction. Hopefully carbon taxes can also be used to slay the other head of the hydra, coal.We should all be gung-ho about the proposed South Texas Project expansion. Houston uses a huge amount of natural gas for electricity. Link to comment Share on other sites More sharing options...
TheNiche Posted May 23, 2007 Share Posted May 23, 2007 This bill is an example of why public education is critical to the future of our nation.The interesting thing is that OPEC doesn't really have much influence when oil prices are higher than about $35 or $40 because every month that prices are that high is another month in which consumers of oil and refined oil products economize on their use by buying more efficient cars, air conditioning units, more efficient homes and buildings, etc., thus reducing long-term demand for oil. OPEC knows this and is just holding back a nominal amount of production to fool people into thinking that they are still relevant even though they really aren't. Of course, if they really wanted to f*** with us and had a good reason, they could cause us and the rest of the world a lot of hurt. ...but even if this bill were signed into law, I seriously doubt that it would ever be enforced in a meaningful way, and OPEC probably anticipates that just as well.I anticipate a great deal of jackassery erupting from the bowels of America (i.e. Washington D.C) in the near future. Link to comment Share on other sites More sharing options...
MidtownCoog Posted May 23, 2007 Share Posted May 23, 2007 This one is too easy to figure out.A Michigan Dem sponsors the bill knowing Bush will veto. A Bush veto in favor of OPEC is great campaign material for the Dems.The Reps play along and vote for it also knowing Bush will veto. The Reps are so scared they can't be seen as supporting OPEC.Bush vetos, all our time is wasted. Link to comment Share on other sites More sharing options...
westguy76 Posted May 23, 2007 Share Posted May 23, 2007 In a perverse way, I'm all for actions that increase the price of petroleum and other fossil fuels. $9 gas is the only way we will become weaned of our addiction. Hopefully carbon taxes can also be used to slay the other head of the hydra, coal.We should all be gung-ho about the proposed South Texas Project expansion. Houston uses a huge amount of natural gas for electricity.that is perverse. Link to comment Share on other sites More sharing options...
RedScare Posted May 23, 2007 Author Share Posted May 23, 2007 In a perverse way, I'm all for actions that increase the price of petroleum and other fossil fuels. $9 gas is the only way we will become weaned of our addiction. Hopefully carbon taxes can also be used to slay the other head of the hydra, coal.We should all be gung-ho about the proposed South Texas Project expansion. Houston uses a huge amount of natural gas for electricity.If the price increase was in the form of a gas tax that kept the money in the US, and further, was used to enhance transit alternatives, the perversion could be acceptable. Since most of this increase is going out of the country, it is not very helpful.Ironically, a tax increase would probably curtail usage, causing the price of oil to drop. Don't hold your breath though. Link to comment Share on other sites More sharing options...
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