Monday, August 04, 2008
Rain Without Rainmakers
Instapundit links to a story about falling oil prices:
    Oil prices plunged to a three-month low Monday, briefly tumbling below $120 a barrel in another huge sell-off after Tropical Storm Edouard seemed less likely to disrupt oil and natural gas output in the Gulf of Mexico.
Brothers and sisters, this is why Congress must act now! It's not important what action they take, whether it's foolish rule against oil speculators or more sensible plans to allow off-shore drilling or oil exploration on public lands.

What is important is that our ruling political class realize that unless it acts, citizens might get the impression that market forces alone can cause declining gas prices, and that sometimes the rain falls without the dances of the rainmakers on the floors of the House and Senate.

I think the political classes have ruled. Since Bush has rescinded the executive order on off shore oil drilling, the price has steadily fallen. Coincidence? I think not. Congress needs to get out of the way and allow more exploration.

" and that sometimes the rain falls without the dances of the rainmakers on the floors of the House and Senate"

What a wonderful (and accurate) way of putting it. Bravo!

Yes this is all bush's doing, it has nothing to do with the fact that demand in the u.s. for fuel has dropped.

Also, for those that think drilling is the answer, the u.s. has only 3 percent of the worlds oil supply. The Energy Information Administration reports that if these untapped resource were tapped, it would make an insignificant change in oil prices. The additional drilling would amount to roughly an extra 1 percent a day by 2030. Think of all those savings! Sorry Brian but you are wrong on this topic.

My points here are:
* Congress affects, in the sense that it puts on, that it has more power in controlling the markets than it does, and that it is in Congress's best interest to maintain that illusion.
* That drilling for more oil would be a good idea, certainly better than punitive measures against Congressional scapegoats.

I see you've picked a different set of priests, or perhaps the same ones, to read entrails and predict the future instead of letting the drilling occur and seeing how insignificant the savings turn out to be. What, is no effort worthwhile unless your soothsayers tell you it would be effective?

There is a saying in Latin, I think, about 'follow the money' as an explanation for behavior. How do you say 'follow the credit-stealers', in Latin?


Anonymous is wrong!! Who do you think runs the Energy Info Admin?? Exploration and developement says we have enough natural oil in our OWN sphere to take care of OUR OWN needs into the next century and drilling leaves no scars...and IF Clinton had OK'd drilling 10 years ago we would be pumping our own oil and not dependent on foreign countries who CAN pull our plug any day they want.. By the way...the oil profits IS TAXED at 46% NOW!!!!! want to put them out of business? They pay salaries and retirees plus exploration, developement,transportation and refining....etc that all takes money!!!!

The Energy Information Administration is run by the u.s. government.

You guys are ignoring the facts of whats actually out there right now. The U.S. Geological survey knows. The u.s. right now has about 3 percent of the worlds oil resources. We use 25% of the worlds oil. That's 20 million barrels a day. At peak production of these untapped sites the would be producing roughly 200,000 barrels a day. That's 1 percent of what we currently use. Now you can ignore the math all you want, that's fine. Unfortunately, going into these places for this would be mostly useless. It's a distraction from solving the real issue.

No, I am sorry, you are using numbers you like to justify doing nothing while drilling is doing something.

It isn't everything, but it is not nothing, either.

I suppose the real issue would be solved if we stopped using oil. However, unless we're going to a strict magic economy, we will use finite resources for power, and I don't think the government should be in charge of marshaling those resources. Obviously, you disagree.

Well then why not provide your readers with some hard facts about what off limit drilling will do. Instead of going with a talking points actually do some research on it.

You claim it's gonna do something well then prove it. Instead of sitting here in your little corner of the web speaking about how the "people" deserve this has part of the solution why not show how much of the solution it will really be?

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