Re: Shocking New Video: Why McCain Wants to Drill Up Our Tourist

Wolf Leverich wrote:
> On 2008-08-05, The Moderator <sparky@[EMAIL PROTECTED]
> wrote:
>> "Wolf Leverich" <leverich@[EMAIL PROTECTED]
> wrote in message 
>> news:slrng9eci6.hpe.leverich@[EMAIL PROTECTED]
> 
>>>> No question oil is a commodity and the price is affected by demand. 
>>>> Demand
>>>> keeps going up, but when President Bush announced he was removing the
ban
>>>> from off-shore drilling the price dropped $10 a gallon.
>>> You're implying causality that isn't there.
>>>
>>> Oil traders know that remaining American reserves are
>>> almost surely too small to affect world oil prices, and
>>> can't come online for a decade or more.
>>>
>>> If you believe the markets are looking a decade or more
>>> out in the future, then why weren't they pricing in
>>> China and India's growth a decade ago?  ;)
>>>
>>> The recent dip in oil prices had a lot more to do with
>>> random walks and responses to continuing evidence of
>>> weakness in the American economy.
>> Cite please.
> 
> Oh, please.  And show me a competent economist who believes
> the dip was due to Bush's action.

Oh please, who me a market that doesn't factor future supply vs. current 
price?

> Note that prices are continuing to slide, with the most commonly
> attributed reason being expectations of weak demand due to the
> slowing economy:

That's a lie.

>  
http://news.yahoo.com/s/ap/20080805/ap_on_bi_ge/oil_prices;_ylt=AqduYahHE5PpkNEt0nFWU86s0NUE

"The pullback is double the size of crude's recent slide. That has fed 
speculation on Wall Street that a large hedge fund or something like it 
may be near collapse and has dumped a vast amount of natural gas 
contracts to free up cash. Last month, SemGroup LP, based in Tulsa, 
Okla., folded after losing $2.4 billion in bad bets on oil futures. 
SemGroup's collapse came amid a massive sell off in the oil market.

"Anytime you get that kind of violent price action in a short amount of 
time, it reeks of someone big being in trouble," Schork said."

Pity you don't bother to read your own cites....

>>>> The Democrats in Congress refuse to address the need for more oil and

>>>> left
>>>> the issue on the table prior to their August vacation.  Price of oil
is
>>>> going back up.
>>> Yup, and the Republicans refuse to address the need to
>>> encourage the oil industry to use or release the leases
>>> they already hold, and they refuse to address the
>>> conservation and transition to alternative energy side
>>> of the equation in any meaningful sense at all.
>>>
>>> Cheers, Wolf.
>> Can you provide a source for your statements? 
> 
> 
> Re use it or lose it:
> 
>   http://www.opencongress.org/bill/110-h6515/show
> 
> Re "refuse to address the conservation and transition


Drill Responsibly in Leased Lands Act of 2008

Sponsor
Rep. Nick Rahall [D, WV-3]


Right...typical Demo-lies bull****.