Posts Tagged ‘futures market’

Democrats Demagogue and Lie About Oil – As Usual

July 29, 2008

Senate Majority Leader Harry Reid said Friday as his Democrats failed to move their energy bill:

They’ve come up with the most unbelievable dodge that I can remember. They said, ‘We’re not going to do anything on speculation because it’s no longer important,’ even though it’s part of their bill.

But that’s a bald faced lie, and he knows it.

Republicans have repeatedly said they were willing to deal on speculation, and alternative energy, and other things the Democrats want. But they insist that drilling on federal lands – which is now off limits on and off shore because of Democrats – be part of any package they will support. As usual, Democrats prove themselves to be dishonest manipulators rather than straight dealers.

You want another example of Democrats’ bald faced lies – again from the top Democrat in the Senate? Speaking again about speculation (i.e. the oil futures market), Reid said:

Something that will lower prices by 20-50%. And I think that, uh, one of the reasons the price of oil has gone down… you’ll note that it has gone down since we started, introduced, since we introduced our legislation dealing with speculation.

No it isn’t, and he knows it. On July 14, President Bush ended the executive ban on offshore drilling. The very next day saw the price of oil take the biggest drop in 17 years.

Within two days of Bush’s signing the executive order, the price of oil dropped from nearly $145 a barrel to $130.73 a barrel. And within four days, it had dropped to $128.88. And Harry Reid wants to take credit for this drop in price with his incredibly airheaded speculation bill that never really had a chance of overcoming a filibuster to begin with?

In the House, Democrats are putting the energy bill on the “suspension calender” in a move that will require a 2/3 majority to pass any legislation, but which prevents the Republicans from adding ANY amendments to allow for drilling on federal lands or contribute in any way.

Democrats are so paranoid that a drilling amendment might be introduced that they would rather scuttle any meaningful vote whatsoever.

Why did President Bush lift the ban?:

The White House announced today that President Bush will lift an executive order banning offshore oil drilling, a move aimed at stepping up pressure on Congress to end the prohibition it imposed in 1981.

The futures market reduced the price of oil because they saw the very real possibility that the American political system might finally get itself in gear to increase the supply of oil. Increased supplies lower prices. It’s as simple as that.

It is just like the Democrat Party to do everything possible to cause the problem for restricting the oil supply, and then try to claim credit for lowering prices. They are the worst kind of backstabbing liars you could possibly ever deal with.

To add to the sheer insanity of the Democrat’s position on energy, Sen. Charles Schumer said the same day:

The bottom line is very simple. We Democrats believe in the future when it comes to energy policy. We believe in alternative energy, we believe we have to wean ourselves away from oil and dependency from people like Ahmadinejad, Chavez and Putin. And they want to throw themselves right into their owns because big oil wants it. So the equations is simple. The Republicans equal big oil and the past. They do what big oil wants. We democrats represent alternatives weaning ourselves away from oil and the future.

So Democrats state that they have no intention of doing anything to increase the supply of oil or doing anything meaningful to reduce the cost even as they blame the Republicans who ARE trying to increase the oil supply.

Or to put it another way, how on earth can Democrats be both for oil and against oil at the same time?

And pandering demagogue that Schumer is, he labels Republicans as stooges of the oil companies which he and other Democrats have repeatedly demonized.

Oil companies certainly have their flaws. But they have one essential virtue: they produce oil. And in demonizing oil companies, Democrats have long-since crossed the line into demonizing the oil that these companies produce.

Or, to put it in Senate Majority Leader Harry Reid’s words:

“Those costs that you don’t see on the bottom line. That is, coal makes us sick, oil makes us sick, its Global Warming, its ruining our Country, its ruining our World.”

Democrats are clearly opposed to oil. And that’s why the supplies are so low and the prices are so high.

You just remember something. Right now we are dependent upon oil. That is why Al Gore keeps flying his fuel-gobbling private jets and getting himself ferried around in gas-guzzling convoys of SUVs. Oil is what we have, and it is very difficult to go without it – even for the hypocrites who tell everyone else to do so.

Democrats like Schumer and Reid are not just part of the problem – they ARE THE PROBLEM. Because of Democrats, we are doing nothing to tap our own massive energy resources. Because of Democrats, we are therefore forced to go to the very dictators that Schumer named and give them $700 billion a year for something we could be producing ourselves.

We can either go on listening to one stupid self-serving lie and excuse after another, or we can vote these fools out and elect men and women who will allow this country to provide itself with the energy we need.

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