Yet oil prices increased this week by over $4 to $103.24 per barrel and gas prices at the pump rose $0.04 to $3.52 (national average).
Let ‘s state this clearly: it’s not American demand driving those prices up. We can attribute part of the increase to other growing economies. But as more people are figuring out all the time, a not inconsequential part of it is commodity speculators. Then there’s tension over Iran that the Republican Teabaggers are trying to inflame – they just love them all the war and conflict they can gin up (as long as their family members aren’t required to actually serve, dont’cha know). Finally, don’t discount the role of the giant fossil fuel industry here – do you think they’re taking the Keystone pipeline decision in peace?
As the folks at Bonddad Blog state, oil and gas prices this high helped act like a choke collar on the U.S. economy last year. Given the relative growing health of the economy since, and the similarly growing prospects for Obama’s reelection largely as a result, that collar might be forcefully reapplied (or no action taken by some to remove it) in order to dim his electoral chances.
The Senate’s version of climate and energy legislation was formally introduced yesterday. Titled “The American Power Act”, the draft is 987 pages long and includes darn near everything. Reading any substantial amount of the bill is going to take a while; understanding it will take even longer. Of course, by the time activists read and understand it, it will probably be in the process of being modified. Regardless, here are two links that I’m looking at. The first is the full bill; the second is a section by section summary.
Colorado’s in the middle of a natural gas boom right now. Big international energy companies are flocking here to drill literally thousands of new wells. And the problem is that because our current law gives so much discretion to the Big Oil companies, they’re cutting corners and failing to clean up after themselves.
So the Colorado Oil and Gas Commission is considering new protections to make sure the Big Oil companies do things the right way — like cleaning up their toxic waste pits, protecting our wildlife, and moving rigs away from people’s homes.
Seems reasonable, right? Not according to the Big Oil companies. If you saw their ads yesterday, you’d think they’re all about to go broke. Amazing that they’re trying to sell that line of baloney when we all know that they’re making RECORD PROFITS right now.
Here’s where we come in:
The Commission is conducting public hearings to collect feedback about these proposed new protections. Not surprisingly, the Big Oil companies are packing the hearings with paid corporate pawns. So we need your help to make sure that the citizens of this state are being heard. Click on the following link to submit your comments for the Oil and Gas Commission online, and we’ll deliver them to the hearing in Denver next Monday, June 23:
If you can make it to the hearing on Monday, your presence would be enormously helpful. The Big Oil companies are seriously trying to drown us out, sowe need as many Coloradans as possible to show up at the public hearing on Monday, June 23rd, at the Paramount Theater at 1631 Glenarm in downtown Denver from 8 a.m. until noon.
By this point, President Bush’s announcement that he wants the oil shale development moratorium repealed, the Arctic National Wildlife Refuge and off-shore drilling opened up for oil and gas drilling should be well known. But is it well known for the correct reasons? Is the media focused on the true aspects of this issue or are they caught up once again in ridiculous tiff reporting?
Allow me to provide a short answer to the second question: the media has reported on the “he-said, she-said” side of the issue more than the details of it. No one should be surprised. After all, the AP seems to be more worried about how much quoting of one of their articles by blogs constitutes fair-use, even though it’s not in their purview to decide such things. Perhaps if they spent more time on actually reporting, bloggers wouldn’t have to quote the one or two salient facts they actually managed to write down and then do the hard work of providing the context the corporate media decided wasn’t sexy enough to include in the first place.
A longer answer to the questions raised above can be found below the fold.
Colorado Senators Ken Salazar and Wayne Allard gave differing solutions regarding our energy problems, as reported by a Denver Post article yesterday. As expected, Sen. Allard wants to drill more wells domestically. This is not a solution and there are many reasons why. Estimates of oil and gas deposits under lands the U.S. controls make up a very small percentage of world-wide deposits. If all the places Republicans wanted to drill were to somehow magically have fully functional systems, the price of oil and gas would hardly be affected.
Leases for drilling have been issued at an exponentially increasing rate in the past seven years, since the start of the Bush administration. Guess how many are operating today. If you guessed “Not all of them”, you’re absolutely correct. Lastly, if the U.S. were to increase their production of oil and gas, how do you think foreign countries and corporations would respond? They would decrease their production. Why? Increasing the supply would drive down the price. What incentive do current operators have to make less money? It sort of violates the whole premise of capitalism.
“It reminds me of a saying from the Reagan era: if it moves, tax it; if it keeps moving, regulate it; and if it stops moving, subsidize it,” Allard said on the Senate floor.
Once again, I really wish Sen. Allard were running for reelection. I would love to see him try to defend his fealty to St. Ronnie and unregulated:
A report by the Genographic Project details how a natural, localized, long-term drought 70,000 years ago might have nearly wiped out our species. For the curious, global CO2 concentration levels jumped between 280 and 300ppm in these dry years. Today’s concentration: 380ppm and increasing. Long-term droughts of yesteryear that were localized could become global unless we stop forcing the climate system with our greenhouse gas emissions.
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John McCain showed what an imbecile and hypocrite he is yesterday with the following:
John McCain tured still hurricane-damaged areas of New Orleans and declared that if the disaster had happened on his watch, he would have immediately landed his plane at the nearest Air Force base.
He offered a pledge Thursday to New Orleans residents that their situation will not be forgotten and that such a botched disaster response will never happen again.
I’m not sure what having John McCain at a nearby Air Force base would have done for hurricane survivors. In any event, it doesn’t matter. Anybody that was actually paying attention the day Katrina ravaged the Gulf Coast will remember that McCain and Bush were celebrating McCain’s birthday in Arizona. Neither Bush nor McCain cared one iota what misery Gulf Coast residents were going through. That’s because they’re elitist snobs. Bottom line: McCain is in no way fit to lead this nation to anything but more disaster.
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With oil flirting with $120 per barrel and gas threatening $4.00 per gallon, what kind of vehicles were sold last month? Smaller and more fuel efficient vehicles, that’s what. Truck and SUV sales suffered.
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Democrats are trying to tamp down public expectations for health care reform starting next year, even if they retake the White House this year. I have news for them: the health care crisis this country is facing is not going to go away. Too many people are being screwed by an immoral, profit-or-nothing system that only benefits executives. Too many people are not getting care. Senior Democrats are under the mistaken impression that they’re leading on this issue, when the reality couldn’t be more different. Senior Democrats love their cushy, guaranteed jobs (where they receive stellar health care paid for by taxpayers) first and foremost. What the people want gets considered well after their own petty wishes are granted. Exacerbating the problem is the perception that the Democratic nominees are guaranteeing major overhaul of the system. If that doesn’t occur quickly, I expect huge blowback. Something has got to give in this tug-of-war and I know the American people are tired of being shafted.
