Posted by Thunder Pig on July 25, 2008
WASHINGTON – House Republicans on Thursday scuttled a bill that Democrats hoped would help lower gasoline prices by forcing the Energy Department to release 70 million barrels of oil — about a three-day supply — from the national stockpile.
Democrats vowed that the action would have produced immediate relief at the pump, as was the case with similar releases in 1991, 2000 and 2005. The Strategic Petroleum Reserve now holds about 700 million barrels.
Despite winning a clear 268-157 majority, the measure still lost. Democratic leaders had brought the proposal up for debate under rules requiring a two-thirds vote to pass.
But passing the bill by just a majority would have meant allowing Republicans to force a vote on new offshore drilling leases.
“They’re hiding from a vote,” said GOP leader John Boehner of Ohio. “They’re scared to death to allow us to … force their members to vote on drilling.”
Source: Raleigh News & Observer
Related: HR 6578
Related: Roll Call #527
How Local Congress Critters Voted on the measure:
NC-05 Virginia Foxx….Nay
NC-10 Patrick McHenry…Nay
NC-11 Heath Shuler…Yea
This election is very important, and the Senate and US House Races are now more important than ever. Due to their boneheadedness, the GOP will be playing defense this year as they attempt to prevent the Democrats from obtaining a supermajority of 60 seats in the Senate (which is likely to happen), and increasing their lead in the House.
One way out of this “prevent defense” is for McCain to choose an acceptable conservative running mate with credibility in economic matters, and I believe that to be Mitt Romney. This wish to pry Bobby Jindal away from his state before he can fix it is stupid. Jindal has decades ahead of him before he need to consider running for President.
Posted in 110th Congress, Economy, Energy, Heath Shuler, Patrick McHenry, Virginia Foxx, Votes | Leave a Comment »
Posted by Thunder Pig on July 17, 2008
To pay less, save the environment, and stop sending trillions to foreign dictators. “We can’t drill our way out of our energy problem.” This daily mantra underscores an abysmal grasp of economics by the politicians, activists, bureaucrats and judges who are dictating US policies. If only their hot air could be converted into usable energy.
This is from Syrin, who hosts a radio show on Blog Talk Radio. She will be broadcasting live at 2.30 PM Eastern Time, and you can listen to her here:
Or on her show page, and join in the chat room (I don’t know if it will be open or not) and interact with her and the chatizens.
I enjoy downloading and listen to Syrin’s shows, and hope that you will, too.
Posted in Blog Talk Radio, breaking news, Economy, Energy, Press | Leave a Comment »
Posted by Thunder Pig on July 15, 2008
This is Brian’s analysis of today’s action, ignore what the Legacy Media is screaming, and don’t forget to check out this oil price chart.
Brian blogs about the market trends at Alpha Trends.
Posted in Economy, Free Markets, Technical Analysis | Leave a Comment »
Posted by Thunder Pig on July 1, 2008
After you watch the video, take action…goodness knows the Democratic Congress won’t.
1. Dump a significant amount of the Strategic Reserve on the market. Lowers prices by around $50 a bbl.
2. We have three times the amount of proven Saudi Arabian Reserves in the Rocky Mountain Shale alone. Drill Here, Drill Now.
3. Maximize usage of alternative fuels.
Posted in conservative activism, Economy, Newt Gingrich, Peak Oil Debunking | Leave a Comment »
Posted by Thunder Pig on June 28, 2008
For the naysayers on the economy, listen to Alpha Trends:
Smart traders make money no matter which way the market is going.
He has a book on Technical Trading.
Posted in Economy, Free Markets, Online Media, Technical Analysis | Leave a Comment »
Posted by Thunder Pig on June 28, 2008
According to the US Energy Information Administration, US gasoline consumption is currently averaging (4-week rolling) 9.027 million barrels of gasoline per day, or about 379 million gallons (42 gallons per barrel). Thus, to completely replace US gasoline consumption, Sapphire Energy would need to “scrub”, at 100% efficiency, just over 83000 cubic kilometers of air per day. Certainly there is plenty of air available – this volume represents less than 0.02% of the volume of air in the first 1 km of atmosphere. Nevertheless, it is an enormous amount to process each day.
Of course, Sapphire Energy’s near-term goals are much more modest. As CEO Jason Pyle told Biomass Magazine, “the company is currently deploying a three-year pilot process with the goal of opening a 153 MMgy (10,000 barrel per day) production facility by 2011 at a site yet to be determined.” Using my fuzzy math above, that equates to a minimum of 92 cubic kilometers of air a day. Still seems like a lot.
So where will all of the CO2 come from?
Source: Watts Up With That? (Be sure and read the whole post over there).
This is the one thing enviro-weenies seem to forget when they try to force alternative energy on us…it is usually not scalable the way oil is scalable. They make good supplemental sources of energy, but cannot replace oil completely.
I am very interested to see more research in this direction for producing fuels from biological sources that are not also food sources. Al Fin has a post on a similar effort that boasts 100,000 gallons of oil an acre production, which leaves me to ponder the possibility of lefties and enviro-weenies (often the same creature) will begin to oppose that process should it promise to free us from bondage to the Middle East, and perhaps create true wealth here. If it is successful…count on it as surely as the protests against wind mills and clean coal plants…which they championed a few years ago.
Posted in al fin, Alternative Energy, Economy, Free Markets, Peak Oil Debunking, science | Leave a Comment »
Posted by Thunder Pig on June 27, 2008
Senator John McCain has a plan:
Our nation’s future security and prosperity depends on the next President making the hard choices that will break our nation’s strategic dependence on foreign sources of energy and will ensure our economic prosperity by meeting tomorrow’s demands for a clean portfolio. John McCain has made the necessary choices – producing more power, pushing technology to help free our transportation sector from its use of foreign oil, cleaning up our air and addressing climate change, and ensuring that Americans have dependable energy sources. John McCain will lead the effort to develop advanced transportation technologies and alternative fuels to promote energy independence and cut off the flow of oil wealth to repressive dictatorships like Iran.
Source: The Lexington Project
While I do not agree with every aspect of his plan, I believe it is a step in the right direction. Just by announcing our intent to drill more oil here at home would send oil prices lower.
I have problems with McCain’s extremely ignorant view on what he calls “speculators”. The very word belies a Marxist connotation. If he is against someone betting on prices going up (called going long), then he should be against someone betting on prices going down (going short), and one would think he is against people trading stocks, futures, or other financial instruments just to make money. Someone should educate the Senator on what makes Capitalism work. The markets are the best indicator of how the economy is doing, and makes judgment calls on the worth of companies and entire segments of the economy of far more efficiently than any economist, or group of economists ever could.
I support The Lexington Project just on the merits of using our own resources, which would be better than giving our money to despots in the Middle East. That money would be better spent paying Americans to do the work here. And oil jobs pay well. Very well. I have a friend who works on an oil rig off the coast of Louisiana six months out of the year, and takes the other six months off to do whatever he wants.
Something like this could supercharge our economy beyond our wildest creams…and the worst lefty nightmare.
Posted in 2008, Alternative Energy, Concepts, Economy, John McCain | Leave a Comment »
Posted by Thunder Pig on June 13, 2008
This (high fuel prices, and the Democratic support of same) should be the thing the this entire election season revolves around.
We should dump half of our Strategic Reserve on the World market. The Democrats should agree to this, because they supported the idea in 2005, and more recently, Speaker Nancy Pelosi called for us to stop adding to the Strategic Reserve, so she understands the effect that putting more oil on the market will lower prices. Wonder why she won’t let us put millions of barrels of oil on the market every day? What does she have against $2 a gallon gasoline?
Compare the Democratic and Republican plans:
Posted in 110th Congress, 2008, Economy, Energy | 6 Comments »
Posted by Thunder Pig on June 11, 2008
This is one of the guys who analyzes the market the way I do, through Technical Analysis.
The book I learned how to invest from is called Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications
I suggest that if you get the book, spring for the study guide. It will help you cement the concepts taught in the book.
Posted in Economy | Leave a Comment »
Posted by Thunder Pig on May 10, 2008
Hat Tip: Truth For America
Remember that the Media is always in the tank to defeat Republicans, and aid Democrats where ever possible.
For more information, visit The Dave Ramsey Show
Posted in Economy, radio | 3 Comments »