Why More Saudi Oil Could Harm American Consumers

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Oil is NOT AN ADDICTION, it is a resource to create energy, Cheap energy drives the economy. Right now there is no free US Oil Market and the speculators bet on what has been happening here by politics for the last 20 years. The libererals have been, and plan for the shortage of oil. I remember the Carter years and the Oil and Bank fiasco his group caused. The last time it was global freezing and now its the global warming.
You will be out work before any government agency can help you. Where is our logic about finance and economy? The earth is not a person and it doesn't get sick.
WAKE UP AMERICA

Robert Mackey of FL 7:56AM June 29, 2008

It's high time we did something about high gas prices or we risk global recession. Copy and paste the web address below into your browser address bar and tell your government representative that you want the loopholes in oil commodities trading plugged up (ie: THE SWAPS LOOPHOLE and THE ENRON LOOPHOLE) This is serious and needs to be addressed immediately. The link directly to the government site is
http://answers.usa.gov/cgi-bin/gsa_ict.cfg/php/enduser/ask.php

Ted 8:34AM June 28, 2008

what a comedy

of MS 11:09PM June 27, 2008

Hey Bob from TX. Unless there are *only* other motorcycles on the road, a truck is gonna squish you. Wearing leather when it's 100 degrees out has gotta chap :)
I went through this stuff in the early 70's. Didn't sell my 454 Corvette because of a little gas price increase (like triple). Sold it because it was wore out and they quit making 110 Sunoco.
(I miss leaded gas :( It had a wonderful scent coming out of the tail pipes. Not like this wimpy E85 stuff.)
When I started driving, gas was 30 cents/gallon, but I only made 8k/year. It's all relative.

Loboc of TX 6:35PM June 27, 2008

The argument AGAINST drilling for oil is it will ruin our environment - We don't want to look at big drilling units off our coasts or in ANWR. Guess what? Have you seen wind props and solar panels? Not the most attractive things ever and Sen Kennedy even prevented a wind prop farm from being built off his Hyannis compound shoreline. So, to you environmentalist tree huggers, a simple question... If no to drilling, no to wind farms, and no to solar - what do you propose as an alternative and when should we start. I am in favor of all 3 - Drill now, start develping wind farms NOW, and solar NOW -- Also, follow McCain's suggestion and start developing more nuclear power -- it is very clean and effiecient. Oh, I'm, sorry, there COULD be an accident. Stop the excuses and get things done!

of OH 2:36PM June 27, 2008

There are millions of us who have to commute to work every day. The high price of gasoline & diesel is doing a lot of damage to regular working people. I know over time people will begin to drive more fuel efficient vehicles. And, that process has started -- the domestic US petroleum products consumption has dropped 2.7% compared to last year (ref EIA). It will take time for practical electric and hybrid cars to reach the market in large numbers. Current hybrids have a limited life expectancy because of the battery technology they use. The next generation will use Lithium Ion technology which is far superior. But, people need relief now and there is a way to push fuel prices down and buy time for people to adjust. Otherwise, we will slip into a recession. And possibly, a severe one.
The Strategic Petroleum Reserve (SPR) currently holds 704.8 million barrels of oil (ref EIA). Pres. Bush by signing a EO can order the withdrawal of up to 2 million barrels per day. If that much oil where sold on the spot market (immediate delivery to refiners) the price of oil would drop significantly. The speculative premium would be taken out of the market. The trade deficit would be reduced by at least 5 billion dollars a month and the dollar would begin to strengthen against foreign currencies.
I do not understand Pres. Bush's inaction on this. Regular people are hurting and he is doing nothing to help us.
I am starting to think George Bush is the "Herbert Hoover" of this century.
Incidentally, I switched from commuting via a truck (18 miles/gallon) to a motorcycle (45 miles/gallon) as my way to reduce gasoline consumption.

Bob of TX 1:19PM June 27, 2008

I was going to vote for Obama until I heard his speech stating that opening up additional Gulf of Mexico waters is not going to help in the short term. Shouldnt the President be concerned about our future oil production? Remember, the price we are paying for gas now is directly related to how much oil we have and easily can get at it.
We need to start now before its too late.

of IL 1:07PM June 27, 2008

a side note, the answer to this is ridding of greedy people from the earth. Hard times to deal with are here and oil is just a small part of the huge world problem...here is your answer.... http://www.watchtower.org/

Joe444 of VA 8:37PM June 26, 2008

Countries who subsudizes oil will be the first to collaspe, then one after another, then the price comes down....it's simple economics and for now it's pure money being pumpted into oil contracts driving oil sky high, kind of like the dot com bubble in the 1990's ... it will hurt everyone even the many investors... why not put your money in the bank where you collect 4% interest rate, at least you wont lose it...

Joe444 of VA 8:31PM June 26, 2008

Repeatedly, I read from consumers that the government should do more (or should have done more) to avert our fuel “crisis”. It is our own glut and want of cheap resources that drives this market. The US consumer impacts the global economy beyond imagine and we "expect" it to continue to serve us. When the OPEC nations have us by the you-know-what, we cry to congress and complain that it is their fault. Wake up, it is our fault. We elected the members of congress to represent and serve us; and we, US citizens, are who's pushing this glut.
Solution: There is no one simple solution but many promising resolutions:
1)Demand better fuel efficiency from our vehicles. This doesn’t even require further explanation.
2)Step up domestic production. Works in tandem with #1 but can also be a problem in the future- when oil reserves start to dwindle worldwide ours will be dwindling right there with them all.
3)R&D of fuel alternatives and renewable energy sources. No matter how you look at it, oil is a finite energy resource.
4)Be diligent in our own use (or waste) of energy and resources. Recycle plastics, car pool, buy green etc. So many environmental groups have been screaming at consumers for years to take action, let's listen.
5)In today’s schools- improve education and awareness of energy conservation and environmental stewardship. Children are going to inherit our mess and can break the poor trend we have followed from the industrial boom of our grandparents. We’ve already made so many improvements in our way of life (health, medicine, consumer protection, technology etc) but we are still living in a disposable age driven by profit. the corrupt and/or underdeveloped nations outside our borders.
6)Adopt some of the practices of our European friends. For years, they have been paying much more in fuel prices and have sustained urban development with the environmental impact in mind.
7)Improve and encourage more efficient public transportation. Mass transit/public transportation was much more common before the one (two then three) car(s) in every garage marketing strategy. This was, of course, back when oil was plenty. What do you think happened with public transportation? Hmmm.
It is time we, as individuals, take responsibility for our actions and the impact it has on a global economy and environment. Our demand for more affordable oil to make the plastic bottles to hold our “essential” spring water or to pump into our 18 mpg SUVs hurt the poor and underprivileged in our country as well as abroad.
Uncle Sam is not going to bail us out of every predicament, especially since Uncle Sam is a collective society that has enjoyed more privileges than almost any citizen in the history of our planet.
Wake-up & ask yourself what you can do to help and take the baby steps to start.

Ron Naida of IL 5:38PM June 26, 2008