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merriefollowshare
7-15-2008 7:15 PM
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merrie says:
Well, if Congress moves to seal the deal, oil prices will probably keep on falling. That’s the way traders work. They discount the future. Psychology and expectations can turn on a dime.

The congressional ban on offshore drilling expires September 30, so that becomes a key date. A new report from Wall Street research house Sanford C. Bernstein says that California actually could start producing new oil within one year if the moratorium were lifted. The California oil is under shallow water and already has been explored. Drilling platforms have been in place since before the moratorium. They’re talking about 10 billion barrels worth off the coast of California.

There’s also a “gang of 10” in the Senate, five Republicans and five Democrats, that is trying to work a compromise deal on lifting the moratorium. So it’s possible a lot of action on this front could occur much sooner than people seem to think.

Deregulate, decontrol, and unleash the American energy industry.
7 Comments   | Add a Comment
7-16-2008 1:11 AM
The REAL Napster
An independant America (energy wise) is strong and a threat to others that want to keep us chained to THEIR oil. While oil is not the answer to our energy needs forever, greatly reducing and eliminating foreign imports will only help the U.S.
FACT: The United States is one of the world's largest consumers of oil.
What happens to the market when the biggest customer walks away? It drives down the NEED and forces the seller to reduce the asking price.

Since most of the U.S. economy is directly related to energy (oil in particular) everyone on the bottom suffers. Farmers need fertizlers to grow crops and fuel equipment. Truckers need fuel to get the crops to market. And you need fu...
7-16-2008 1:33 AM
merrie
And yes, Virginia, they (foreign nations) are drilling for oil 90 miles off the Florida coast near Cuba.
From Newt’s American Solutions.
July 12th, 2008 at 10:34 am

Good news today from Virginia on offshore drilling. HB6006, a bill that would allow vital oil and natural gas exploration off the Virginia coastline, passed the House of Delegates by 56 to 39.

http://patriotroom.com/?p=523
7-16-2008 1:48 AM
merrie
From Newt’s American Solutions (continued)

Delegate Chris Saxman, the bill’s author, said this in a press release:

Though federal officials will ultimately decide
whether to lift the ban on offshore drilling, it is important for Virginia, possessing potentially significant offshore resources, to prepare for that possibility now. By passing House Bill 6006, the Virginia General Assembly can send a strong message to Congress that we are ready to act.

Thanks to all the Virginians who called their Delegate asking them to support the bill. Now, we need you to call your State Senator to encourage them to support offshore drilling as well.
7-16-2008 2:22 AM
merrie
Drilling Down

Despite his state’s scenic rural tradition, Sen. John Sununu, R-NH, stood firm with McCain and Bush. “He is supporting offshore drilling,” said Sununu spokeswoman Liz Chamberlain. “As far as whether the senator supports Sen. McCain’s proposal to lift the moratorium on offshore oil drilling, he does.”

Not only does the issue reinforce the environmental schism within the Republican Party, but McCain’s announcement provided an opening for Democrats running in moderate states to agree with the GOP contender, thus appealing to swing voters, the business community and big oil donors.

Former VA Gov. Mark Warner, a Democrat running for Senate this year, once vetoed a bill all...
7-16-2008 3:39 AM
Rioting Drone
Watch the Dems squirm. Watch'em!

Green initiatives are good. Getting away from petrochem (or as Bush likes to say recently, the Hydrocarbon Age) is the best idea to perpetuate our species (my nationalistic streak aside). However, until the green alternatives are economically viable for the common (read as poor and proletariat) man, we will need the consistency of oil as an energy transport medium.

What needs to stop is the cramming of political dogma down our throats. The democrats see it as our way our the highway, attempting to enforce unrealistic legislation upon the populace "for their own good." Now I am not saying that the ol'boys clubs of the Republicans are not much better, stuffy,...
7-16-2008 3:40 AM
Rioting Drone
Crap... Typo!

Now I am not saying that the ol'boys clubs of the Republicans are not much better, stuffy, wasp affairs, and theological rhetoric.
should read

Now I am not saying that the ol'boys clubs of the Republicans are much better, stuffy, wasp affairs, and theological rhetoric.
7-16-2008 6:43 PM
sillysam
Right on Riot.
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