For YEARS Democrats and environmental extremists have opposed opening new areas for oil drilling. They have tried to mask their extreme views the last 30+ years by pushing the point that any oil drilling begun wouldn't produce marketable results for another 10 years. Over three decades later gas is at $140 a barrel and gas is over $4 a gallon. President Bush FINALLY lifts the Executive ban on off shore drilling and the price of oil has dropped for four days straight!!!!
Bush Says Drill, Drill, Drill — and Oil Drops $9!
In a dramatic move yesterday President Bush removed the executive-branch moratorium on offshore drilling. Today, at a news conference, Bush repeated his new position, and slammed the Democratic Congress for not removing the congressional moratorium on the Outer Continental Shelf and elsewhere. Crude-oil futures for August delivery plunged $9.26, or 6.3 percent, almost immediately as Bush was speaking, bringing the barrel price down to $136.
Now isn’t this interesting?
Democrats keep saying that it will take 10 years or longer to produce oil from the offshore areas. And they say that oil prices won’t decline for at least that long. And they, along with Obama and McCain, bash so-called oil speculators. And today we had a real-world example as to why they are wrong. All of them. Reid, Pelosi, Obama, McCain — all of them.
Traders took a look at a feisty and aggressive George Bush and started selling the market well before a single new drop of oil has been lifted. What does this tell us? 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.
So I repeat: Drill, drill, drill. Deregulate, decontrol, and unleash the American energy industry. Those hated traders will then keep selling oil as the laws of supply and demand and free markets keep working.
Bravo for Bush. Bravo for the traders.
Tuesday, July 15, 2008
Thursday, July 10, 2008
Do You Notice Any Difference?
The Army recently nominated Lt. Gen. Ann Dunwoody for a promotion, which would make her the first female four-star general in the United States. Dunwoody's comments to the press not only reveal her strength of character but also a stark difference between those who see America as an unjust and hateful place and those who understand why America is the greatest nation ever to exist. Said Dunwoody:
"I am very honored but also very humbled today with this announcement. I grew up in a family that didn't know what glass ceilings were. This nomination only reaffirms what I have known to be true about the military throughout my career-that the doors continue to open for men and women in uniform."
Contrast that with Hillary's comments when she suspended her campaign.
"Although we weren't able to shatter that highest, hardest glass ceiling this time, thanks to you, it's got about 18 million cracks in it. And the light is shining through like never before, filling us all with the hope and the sure knowledge that the path will be a little easier next time."
Void of any humility Hillary's comment betrays a typical strategy of liberals: blame any failure or lack of success on barriers and 'injustices' of society. Instead of believing that America is a country where dreams are accomplished and that those who work hard are rewarded for their efforts, it is portrayed as a place of rampant injustice where honest people cannot succeed. (Conveniently, liberals would like to fool you into believing that only THEY can fix the 'injustices' of society and that Americans are helpless without government intervention). Could Hillary's defeat have been the result of her husband's horrible and disgraceful 'service' as President? Could it have been that Hillary is seen as way too liberal to be a viable candidate for mainstream Americans? Could her numerous ridiculous ideas, her poor public image, or sorry political decisions have lead to the loss? Could it have been that Barack ran a better campaign? Apparently not to Hillary. According to her it is everyone else's fault-but most importantly it is America's injustice that is at fault.
Maybe, Hillary, you lost because you blame others for your own shortcomings.
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