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House of Representatives Votes to Keep Energy Prices High

Discussion in '2006 Archive' started by KenH, May 18, 2006.

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  1. KenH

    KenH Well-Known Member

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    Proof of what I said a few weeks ago - the Congress' supposed outrage about energy prices was nothing but political posturing and populist poppycock.


    House Vote Preserves Offshore Drilling Ban
    By H. Josef Hebert, Associated Press Writer

    The House rejected an attempt Thursday to lift a quarter-century congressional ban on offshore oil drilling in coastal waters outside the western Gulf of Mexico amid arguments that new supplies are needed to lower energy prices.

    - LINK
     
    #1 KenH, May 18, 2006
  2. Joseph_Botwinick

    Joseph_Botwinick <img src=/532.jpg>Banned

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    Agreed. The politicians care as little about America and its families as the oil companies do. What a shame.

    Joseph Botwinick
     
    #2 Joseph_Botwinick, May 19, 2006
  3. saturneptune

    saturneptune New Member

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    Ken,
    I owe you an apology. There appears to be much more blame in the self centered political system for this problem than with the oil companies, although not blame free.
     
    #3 saturneptune, May 19, 2006
  4. KenH

    KenH Well-Known Member

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    No problem, saturnneptune. [​IMG]
     
    #4 KenH, May 19, 2006
  5. billwald

    billwald New Member

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    Oil prices are set by the international market. Only thing will cut the price of oil is a world wide depression or something which has yet to be invented. American oil won't be sold for less than China and India is willing to pay.
     
    #5 billwald, May 19, 2006
  6. rbell

    rbell Active Member

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    Wrong.

    A precipitous increase in supply would cause a price drop. This is especially so for finished product such as refined fuels or natural gas.
     
    #6 rbell, May 20, 2006
  7. billwald

    billwald New Member

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    Did the price drop when the Alaska pipeline went on line? Not that I can recall.
     
    #7 billwald, May 20, 2006
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