If I were Nancy Pelosi, I would give in to the Republican’s demand of “drill here/drill now”. I would call the House of Representatives back into session tomorrow, 4 September 2008, in the afternoon. I would do this for two reasons. First, that is when presumptive Republican Presidential Candidate John McCain will be accepting the Republican nomination for President. Second, several of the Republicans are on a “fact finding mission” to Iraq & Afghanistan. I believe that few of the Republicans would come back in the middle of the GOP convention and Speaker of the House Pelosi could always point out that she got down to business and the Republicans didn’t care enough about the American Working families to come back into session and vote on drilling.
I was reading an interesting article over at SheeplePeople.com. The article asked regulating speculators would reduce oil prices. It’s a good read. Check it out and tell me what you think.
Government intervention will make the problem worse. Didn’t we already experience what happens when government interferes with the free market while Carter was president?
Speculation makes markets react faster and increases liquidity. Without liquidity the market could be much worse and subject to larger price fluctuations.
Speculators are not the problem. The number 1 problem is government created: The Gulf War has cost 600 Billion dollars. Rather than force Americans to pay for this in taxes, the government has borrowed and printed money. This has caused the dollar to crash in value. Oil is a commodity, just like gold, copper, and steel. All of these items have gone up in dollars as the dollar has gone done in value.
If the dollar held it’s past value, oil would be under $100 a barrel.
Besides the crashing dollar, other significant causes are: increasing demand from Asia, decrease in new discoveries, subsidized gas in China, and high per capita consumption in the U.S.
Speculation is a debatable factor. I don’t think it hurts us, but I know government interference will!”
Yesterday (24 July), Harry Reid said “I am here to tell you that polygamist communities in the United States are a form of organized crime”. He then gives a list of reasons on why polygamist communities are a form of organized crime:
- child abuse *teen and pre-teen girls are forced to marry older men and bear their children)
- Welfare fraud
- Tax evasion
- Massive corruption
- Strong-arm tactics
While I agree that polygamist groups have their problems, I believe that there is a much larger problem with Organized Crime in our country, and its not coming from the polygamists. Continue reading
With oil & gas prices as high as they are, we have been hearing a lot about ANWR. Want to learn more about it? Here’s a great article:
Today’s Las Vegas Review-Journal had an interesting article from Joel Kotkin, comparing today to the 1970s. I found it a good read.
“The country is in a funk. Oil prices are at record highs, and the dollar is plummeting. Foreigners are buying out leading U.S. business assets. Environmentalists say the world is headed toward an ecological crackup of biblical proportions.
Today’s headlines? Well, yes. But for those of us old enough to remember, they could just as easily be bulletins from one of the grimmest decades in recent U.S. history: the ’70s.”