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Remember when libs would always counter the calls for increased US oil production by saying that such measures would have little, if any, impact on gasoline prices?
Obama just misled the nation in his last speech when he claimed the XL pipeline oil was not going to the US and would be of no benefit to us.
This lawyer, scholar, media declared greatest orator, lied with the intention to strengthen his position to oppose US oil independence and keep the cash his version 'Koch Brothers' conditionally offered.
Why would obama deny the basic fact that more oil on the market lowers global prices?
Why is he so deceitful?
The speculation leads to nefarious intent and being such a great orator and master of words, his polished skills, instead, indict him as a liar.
Hawk, did you even read the article that you linked?
Quote:
It wasn’t even just liberals. When ThinkProgress compiled a list of “20 Experts Who Say Drilling Won’t Lower Gas Prices,” it included names like former John McCain adviser Douglas Holtz-Eakin and Fox News’ John Stossel.
These were not absurd or especially ideological arguments. There had never been much of a statistical relationship between U.S. oil production and what Americans paid at the pump.
Quote:
Drilling didn’t do the trick alone, mind you. There are essentially three reasons that crude prices have fallen by about 30 percent since June: Supply, demand, and Saudi Arabia. Thanks largely to surging U.S. production, the amount of oil on the market is up. But thanks to China’s slowdown, Europe’s chronic economic troubles, and American conservation, demand hasn’t kept pace.
Quote:
The combination of U.S. drilling and a global slowdown didn’t necessarily have to end in plummeting oil prices. Traditionally, OPEC members have cut their production in the face of global gluts in order to keep their profits high. But now, OPEC appears to be fraying. Earlier this month, Saudi Arabia shocked much of the world by cutting its crude export prices to the U.S., in what was interpreted as an attempt to protect its market share and possibly put pressure on America’s domestic drillers. Instead of trying to buoy the price of petroleum, the Saudis are now helping drive it down further in order to save their own revenue stream.
US drilling HAS reduced gas and oil prices, simply by the laws of supply and demand, which are not negated, despite liberal dogma.
Libs are wrong AGAIN.
It has nothing to to with US politics and US drilling. The US does not control the global price of oil.
Saudi Arabia does.
Some of the US producers are operating in the red now. We'll see how long they can do this.
Remember when libs would always counter the calls for increased US oil production by saying that such measures would have little, if any, impact on gasoline prices?
It has nothing to to with US politics and US drilling. The US does not control the global price of oil.
Saudi Arabia does.
Some of the US producers are operating in the red now. We'll see how long they can do this.
If prices persist at current levels for months to come, the Saudis will achieve their objective of dealing a blow to North American oil production.
Production at the margins will be impacted but US oil can be profitable at these prices. The bigger impacts will be in exploration which may or may not impact future supply growth. In any case, the price will be back up to $100 or more within a year or so. Nobody thinks that the Saudis will keep production targets where they are.
Listening to liberals on issues of economics is a couple steps below using a witch doctor to cure cancer.
What an astute argument.
Do you have anything economical to add to your ad hominem?
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