House of Representatives Votes to Keep Energy Prices High

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

  1. KenH

    KenH
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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
     
  2. Joseph_Botwinick

    Joseph_Botwinick
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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
     
  3. saturneptune

    saturneptune
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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.
     
  4. KenH

    KenH
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    No problem, saturnneptune. [​IMG]
     
  5. billwald

    billwald
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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.
     
  6. rbell

    rbell
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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.
     
  7. billwald

    billwald
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    Did the price drop when the Alaska pipeline went on line? Not that I can recall.
     

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