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Thread: Voters say drill

  1. #1
    Elite Member tkdgirl's Avatar
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    Thumbs up Voters say drill

    Voters Say 'Drill'

    By Lawrence Kudlow
    The recent spike in oil prices and unemployment is dramatically changing this presidential campaign -- virtually overnight. The near $20 jump in oil to $140 a barrel, the unexpected half-point increase in the jobless rate to 5.5 percent (the biggest monthly increase in twenty years), and the resulting 400-point plunge in stocks has created a new campaign issue right before our eyes.


    Public worry number one is now oil, jobs, and the economy, with the inflationary woes of the U.S. dollar right underneath. The candidate who can connect with these issues will win in November. But so far neither Obama nor McCain are dealing with the new political reality.

    In fact, it's all about oil right now. The price has doubled over the past year while the economy has slumped.


    But here's an eye opener. Recent polling data from Gallup show the percentage of voters blaming oil companies for skyrocketing gasoline prices has dropped from 34 percent to 20 percent over the past year. At the same time, support for more drilling in U.S. coastal and wilderness areas has increased to 57 percent from 41 percent.


    And the candidates remain blind to these shifts.


    Obama continues to lambaste oil companies while congressional Democrats push for cap-and-trade. They're missing the point, big time. The public wants more energy and more fuel to cut high prices and spur economic growth. But the costly cap-and-trade plan would produce less fuel and less growth. It would only raise gas pump prices while mounting a Gosplan-type taxing, spending, and regulating program that would be the moral equivalent of Hillarycare on nationalized medicine.


    Sen. McCain has an opening here. Yet he, like Obama, would have voted for cap-and-trade, which went down to defeat in last week's Senate vote. And while Mr. McCain favors some off-shore production and has been strong on nuclear development, he is against drilling in ANWR Alaska.


    Then there's the oil nobody is talking about. The Bakken fields beneath North Dakota, Montana, and Canada hold an estimated 400 billion barrels of oil. In comparison, Saudi Arabia's biggest field, Gahawar, has an estimated 55 billion barrels, while ANWR has an estimated 10.4 billion barrels.


    Hat tip to Mark Perry at the Carpe Diem blog site for these figures. Perry also is reporting a Bureau of Land Management study showing 279 million acres under federal management where oil and gas could potentially be extracted. But more than half of this is totally off limits. Off-shore, where another 86 billion barrels lie in wait, is also restricted. Then there's liquefied natural gas, oil shale, and the various coal-to-liquid carbon-capture and sequestration technologies that would be priced out of the market by cap-and-trade.


    The U.S. is the Saudi Arabia of coal, but we can't produce. We're still the world's third-largest oil producer, but we could be the Saudi Arabia of oil if our companies were free to drill. Oil CEOs like Rex Tillerson of ExxonMobil and David O'Reilly of Chevron keep saying this. But politicians aren't heeding their message.


    Israeli saber-rattling against Iran could have accounted for some of last week's huge oil spike. And the unemployment story may not be as bad as the May jobs report suggests. An unexpected inflow of teenagers probably bloated the jobless figure by a couple tenths of 1 percent. And economist Jerry Bowyer points out that an unprecedented hike in the minimum wage may be derailing students looking for summer work. However, in a sign of future job improvement, the civilian labor force grew by nearly 600,000, meaning that more people looking for work could signal recovery. Weekly jobless claims are near 350,000, not the 500,000 of past recessions. Overall, at 5.5 percent, unemployment continues to be historically low.
    But the economy is still in a slump, not a boom. And the fact remains that Americans are very worried about the economic outlook. This could be a recession election. And right now voter economic anxieties are all about oil, even more than the sub-prime housing credit problem.


    Sen. McCain has a great pro-growth plan to slash corporate tax rates, a move that would be a strong tonic for jobs and wages. But he must bolster that plan with a new emphasis on deregulated energy markets that can produce a total portfolio of conventional and non-conventional energy, including major new drilling. He should couple that with a strong-dollar message to curb both energy and non-energy inflation, which is shrinking consumer paychecks and damaging corporate profits.


    More oil, more jobs, better wages, and low inflation. That's a winning GOP message this fall. But what if Sen. Obama gets there first? It's unlikely, but not out of the question. Either way, voters will move to the candidate who connects with their worries. Right now those worries are up for grabs.

    Lawrence Kudlow is a former Reagan economic advisor, a syndicated columnist, and the host of CNBC's Kudlow & Company. Visit his blog, Kudlow's Money Politics.


    RealClearPolitics - Articles - Voters Say 'Drill'

    A government big enough to give you everything you want,
    is strong enough to take everything you have. ~Thomas Jefferson

  2. #2
    Elite Member Grimmlok's Avatar
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    Voters also let Dubbya into the white house, they're not the brightest.

    Secondly, they're just bitching because they all bought SUV's and cant afford to drive their fat asses 10 feet to get a back of cheetos.

    Thirdly MORE OIL IS NOT THE ANSWER TO ANYTHING.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

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    Elite Member tkdgirl's Avatar
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    Drill... drill... drill...

    Explore... explore... explore...

    Technology... technology... technology...

    I'll waive to you as I drive my skinny ass to the gas station and fill up my SUV.

    Way to slam on group or another of Americans, Grimm, and rely on complete and total stereotypes. I'd expect nothing more than an America hating Canuck.

    A government big enough to give you everything you want,
    is strong enough to take everything you have. ~Thomas Jefferson

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    Elite Member lurkur's Avatar
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    Here we go again. Obama has proposed solutions to the oil problem, and it doesn't just shift the problem from the present-day to a few years down the road like drilling does. Drilling won't solve anything, it just means that instead of facing reality today, you face it tomorrow. We need to wean ourselves off oil because otherwise we will be forced to go cold-turkey and that will be so chaotic.

    If an obese person keeps eating food at an unhealthy rate, is the solution to bring them more food, or to have them go on a diet? God, anyone can learn this by watching Maury.

    ETA, the author was a Reagan economic adviser. I guess that explains why reality doesn't factor into things.

  5. #5
    Elite Member tkdgirl's Avatar
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    ^^ And here we go again. Attack the author... Why is it left bloggers, writers, etc. are never attacked as being biased?

    Stupid question, here.

    A government big enough to give you everything you want,
    is strong enough to take everything you have. ~Thomas Jefferson

  6. #6
    Elite Member Grimmlok's Avatar
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    Quote Originally Posted by tkdgirl View Post
    Drill... drill... drill...

    Explore... explore... explore...

    Technology... technology... technology...

    I'll waive to you as I drive my skinny ass to the gas station and fill up my SUV.

    Way to slam on group or another of Americans, Grimm, and rely on complete and total stereotypes. I'd expect nothing more than an America hating Canuck.
    Do that, i'll laugh as you bankrupt yourself with your selfishness.

    I don't hate america. I hate the stupid things americans do.

    But i expect nothing short of a soundbite coming from someone like you. It's the way you do things. No actual exploration or in depth analysis. Just soundbites and fluff.

    Btw, you can go back to ignoring me like you said you would.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

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    Elite Member Grimmlok's Avatar
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    Quote Originally Posted by tkdgirl View Post
    ^^ And here we go again. Attack the author... Why is it left bloggers, writers, etc. are never attacked as being biased?

    Stupid question, here.
    The author represents an administration that failed concerning a coherent energy policy. That pretty much means their opinion is dead in the water.

    It would be as if ol FEMA brownie did a piece on how to manage a disaster, after Katrina.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

  8. #8
    Elite Member lurkur's Avatar
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    Quote Originally Posted by tkdgirl View Post
    ^^ And here we go again. Attack the author... Why is it left bloggers, writers, etc. are never attacked as being biased?

    Stupid question, here.

    Yes, I made a comment about the author, but addressed his statements first. You're making a comment about me, but didn't even bother to address my statements. Talk about avoiding the issue. Do you really think that if an obese person keeps eating food at an unhealthy rate, they should be advised to eat MORE rather than go on a diet?

  9. #9
    Elite Member tkdgirl's Avatar
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    Quote Originally Posted by lurkur View Post
    Yes, I made a comment about the author, but addressed his statements first. You're making a comment about me, but didn't even bother to address my statements. Talk about avoiding the issue. Do you really think that if an obese person keeps eating food at an unhealthy rate, they should be advised to eat MORE rather than go on a diet?
    Fine. I'll address your 'Obama has the answers' line...

    He hasn't given anything new in terms of energy. In fact, many of his 'solutions' are recycled rhetoric from other Dem candidates, who haven't done a damn thing to help Americans.

    Yes, the issue can be lessened to a degree by reducing consumption. But that is not the solution. The solution is to continue investing in promising alternative energies (and not ethanol since that is more waste than anything).

    This energy crisis isn't new. We haven't learned ANYTHING since the 70s, when we relied on around 25-30% of foreign energy sources. Now, its over 70%. We've had both parties in office and not a single one has done a thing to help. Not one. Not even the promises made by Pelosi have come to fruition.

    And the reason oil has sky rocketed in the US is because oil speculation has become the 'game de jour' for money making. It has nothing to do with the actual laws of supply and demand- just some alleged experts who say oil will be this or that, and boom... the price changes THAT DAY at the pump. Yes, demand from growing countries like China and India play a part. But they have for years now. The sudden spike is nothing more than a manufactured attempt at price gouging. THAT is the story.

    So you put your faith in Obama, in the government, to do something about the energy crisis. I'll put mine where it truly belong- the private sector, where all the advanced in technology, etc. will come from.

    Unless the government regulates them too. Then we're all screwed.

    In the meantime, I will do what I can to reduce my expenses, travel, etc. Funny how I can do that without a promise from a candidate, or help from the government.

    A government big enough to give you everything you want,
    is strong enough to take everything you have. ~Thomas Jefferson

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    Elite Member Just Kill Me's Avatar
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    How about this; I think everyone is biased.
    "But here's an eye opener. Recent polling data from Gallup show the percentage of voters blaming oil companies for skyrocketing gasoline prices has dropped from 34 percent to 20 percent over the past year. At the same time, support for more drilling in U.S. coastal and wilderness areas has increased to 57 percent from 41 percent."

    I would really like to see the exact phrasing used for these questions. Polls are crap most of the time...

    "And the reason oil has sky rocketed in the US is because oil speculation has become the 'game de jour' for money making. It has nothing to do with the actual laws of supply and demand- just some alleged experts who say oil will be this or that, and boom... the price changes THAT DAY at the pump. Yes, demand from growing countries like China and India play a part. But they have for years now. The sudden spike is nothing more than a manufactured attempt at price gouging. THAT is the story."

    tkdgirl, that's it in a nutshell... now who is truly doing the price gouging? Who is making a fuckload of money in all of this? And if anyone even mentions OPEC I'm going to scream.
    This reminds of subprime mortgages being sold back and forth, ya know?
    KILLING ME WON'T BRING BACK YOUR GOD DAMNED HONEY!!!!!!!!!!

    Come on, let's have lots of drinks.

    Fuck you all, I'm going viral.

  11. #11
    Elite Member lurkur's Avatar
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    Quote Originally Posted by tkdgirl View Post
    Fine. I'll address your 'Obama has the answers' line...

    He hasn't given anything new in terms of energy. In fact, many of his 'solutions' are recycled rhetoric from other Dem candidates, who haven't done a damn thing to help Americans.

    Yes, the issue can be lessened to a degree by reducing consumption. But that is not the solution. The solution is to continue investing in promising alternative energies (and not ethanol since that is more waste than anything).
    So you agree then, that the oil crisis can be lessened by reducing consumption and the solution is in alternative energies. More drilling is neither reducing consumption, nor an alternative energy. So by your own admission, more drilling doesn't alleviate or solve the oil crisis.

    This energy crisis isn't new. We haven't learned ANYTHING since the 70s, when we relied on around 25-30% of foreign energy sources. Now, its over 70%. We've had both parties in office and not a single one has done a thing to help. Not one. Not even the promises made by Pelosi have come to fruition.

    And the reason oil has sky rocketed in the US is because oil speculation has become the 'game de jour' for money making. It has nothing to do with the actual laws of supply and demand- just some alleged experts who say oil will be this or that, and boom... the price changes THAT DAY at the pump. Yes, demand from growing countries like China and India play a part. But they have for years now. The sudden spike is nothing more than a manufactured attempt at price gouging. THAT is the story.
    If you believe that the oil prices have nothing to do with supply and demand, then more drilling (aka increasing supply) would have no effect on the oil prices. Again, by your own admission, more drilling doesn't alleviate or solve the oil crisis. It would however, be a great opportunity for oil companies to make a killing because, as you said, they can make up any price they want and people will pay.

    So you put your faith in Obama, in the government, to do something about the energy crisis. I'll put mine where it truly belong- the private sector, where all the advanced in technology, etc. will come from.

    Unless the government regulates them too. Then we're all screwed.

    In the meantime, I will do what I can to reduce my expenses, travel, etc. Funny how I can do that without a promise from a candidate, or help from the government.
    You blame the government for not doing anything to help oil prices since the 70s, but you're going to put your trust in the very companies that determined the prices, the same speculators and businesses that you just said practice "price gouging." I'm not putting my "faith" in Obama, and his plans are nothing new. I don't care whether or not he made up the ideas himself, but at least his plans include an ENERGY policy, not an oil policy. McCain's plans don't include this, and the oil companies making record profits on oil certainly are in no hurry to change.

    We shouldn't be arguing much, because it seems you agree with us

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    Elite Member sluce's Avatar
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    [QUOTE=lurkur;1238199We shouldn't be arguing much, because it seems you agree with us [/QUOTE]


    Thank you!!! Sometimes logic is missing.

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    Elite Member tkdgirl's Avatar
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    Pardon me... I thought it was obvious I supported drilling from my post above. Yes, I think part of the solution is to explore our own energy options, including drilling.

    Why is it we allow Cuba to drill no more than 50 miles off the Florida coast, but not our own country???

    And the arguing only takes place when people blame the Bush administration, big oil, etc. This problem has been around longer than most of us have been alive.

    A government big enough to give you everything you want,
    is strong enough to take everything you have. ~Thomas Jefferson

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    Elite Member lurkur's Avatar
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    Quote Originally Posted by tkdgirl View Post
    Pardon me... I thought it was obvious I supported drilling from my post above. Yes, I think part of the solution is to explore our own energy options, including drilling.

    Why is it we allow Cuba to drill no more than 50 miles off the Florida coast, but not our own country???

    And the arguing only takes place when people blame the Bush administration, big oil, etc. This problem has been around longer than most of us have been alive.


    ??????? Am I on Candid Camera?????????

    If you think supply and demand don't effect gas prices, what good will more drilling do for your gas prices??? Isn't that the whole point of drilling? When I pressed you to put things in your own terms, your own opinion revealed everything contrary to drilling, but yet you agree with this parroted talking-points op/ed because why exactly???

    You're changing the subject again. The original article, that you posted, was about opening up new drilling, which is also what we have been discussing this whole time. Now you're talking about how come no one complains about existing drilling in Cuba. First of all, people do complain. Secondly, MORE people complain about ANWAR because continuing existing drilling is not the same as starting up new drilling, which would entail massive additional economic and environmental costs to the citizens of the United States before one drop of oil ever pumped out.

    And if no one gets the irony of the question about why we allow something in Cuba that we don't allow in the US, then I guess we need naked people on TV with big flashy lights that say "Guantanamo Bay." Oh wait, that did happen. We're so fucked.

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    Elite Member lurkur's Avatar
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    Then there's the oil nobody is talking about. The Bakken fields beneath North Dakota, Montana, and Canada hold an estimated 400 billion barrels of oil. In comparison, Saudi Arabia's biggest field, Gahawar, has an estimated 55 billion barrels, while ANWR has an estimated 10.4 billion barrels.
    Also, when the guy states this, he's conflating what are largely untappable sources in the oil sands with the much lower volume of accessible oil in order to justify "slashing" (his own word) taxes and opening up ANWR, which, again, in his own words, has a volume that pales in comparison to the "real" stocks of oil.

    STILL pressing the failed Reaganomic trickle-down the leg of America shit.

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