Quote:
Originally Posted by Imperator
so we are going to threaten others with arms embargoes because we blew up our currency and have not done a thing to increase our own production and refining capacity?? To say nothing of the hypocrisy noted as well....My word...
Guns for Oil
May 7, 2008
Speaking of energy (see here), we can't help but give more attention to a recent press release from some of the Senate's leading liberals. Charles Schumer, Byron Dorgan, Bernie Sanders, Bob Casey and Mary Landrieu are demanding that President Bush tell OPEC nations to increase their oil supplies or risk losing arms deals with the United States. The Senators say U.S. consumers need the price relief that only increased oil production can bring.
Yes, that Senator Schumer and that Senator Dorgan, both of whom voted against increasing U.S. oil production because they couldn't abide drilling across 1% of Alaska's wilderness. Yes, that Senator Casey, who has called for mandatory reductions in emissions of carbon dioxide. At least Senator Landrieu of Louisiana has fought to allow more offshore drilling in the Gulf of Mexico.
All of these Senate Democrats are willing to accept greater carbon emissions, as long as we can also outsource jobs in the petroleum industry to Middle Eastern dictatorships. The Senators do aver that "some of us have concerns in general about arming this region to the teeth," but apparently cheap fossil fuel buys a lot of peace of mind.
A special word of concern about Mr. Sanders: He is the only avowed socialist in Congress, but the Vermonter appears to be losing his religion over $122-a-barrel oil. By signing this letter, not only is he officially recognizing the law of supply and demand; he's also proposing a more crassly commercial trade of guns for oil than anything we've ever heard from the most candid realpolitician.
To top it off, the Senator whose Web site proudly proclaims that the first bill he introduced was to combat global warming now wants more fossil fuels ready for burning. We hope his friends are closely watching Mr. Sanders, in case he blows a gasket over all of this cognitive ideological dissonance.
Guns for Oil - WSJ.com |
US reserves not in production are a drop in the bucket of our consumption, more production by ME monarchies won't drop the price at the pump while our foreign policy plus our devaluing currency are major influences on stimulating market pricing increases of futures speculation and hedging USD. That our politicians would attempt feeble trade blackmail with one of our top three oil suppliers means reality still hasn't soaked into their ignorance or arrogance.
That's almost as sad as Bush visiting the Sauds on a state visit and publicly announcing his request that they increase production. The Sauds then made the statement, after Bush's politically required, staged begging/demand appearance, that they had no intent of opening new production fields, preferring to save it for their children.
So what's next, invading Iran, the Sauds and maybe even Norway if they don't meet our addiction demands with their finite resources? Aren't there also other small, relatively defenseless nations where our strangling military costs can be utilized and experience yet more failure before we admit we're going in the wrong direction in our desperation? The rest of the developed world, with 2-3 times our our pump cost of fuel, has to be laughing at us as we blindly plunge forward with meaningless proposed solutions to our problems while they develop and utilize alternative energy.