Tuesday, May 13, 2008

Running out of gas and food...world wide!

BY Terry Bankert 5/14/08 EARLY EDITION
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Full article at http://goodmorningflint.blogspot.com/
Flint Talk http://flinttalk.com/viewtopic.php?p=28540#28540 __________________________

REFLECTIONS: In this morphed article of our psudeo leaders and their gimmick act to stop adding to our near full oil reserves in this country ,reaffirms my conviction America is in trouble for want of leadership. How many food riots, permanently parked hummers and dead children for lack of health care will it take before our country, leaders and you WAKE UP. [TRB]

REPUBLICANS ARE WORRIED, ARE THEY WAKING UP? NOT A CHANCE! Said Sen. Kay Bailey Hutchison, R-Texas, a member of the GOP leadership."We are talking to people out there. We are out there. People are really worried. They are worried about the high cost of food [and] transportation," she said.[c]

EVEN THE GOVERNMENT CANNOT AFFORD THE PRICE OF GAS. The House and Senate demanded on Tuesday that President Bush halt the shipment of oil to the country’s strategic petroleum reserve as long as oil prices remain high.[n] The Senate voted 97-1 to force the Bush administration to stop acquiring oil to store in an emergency stockpile, handing a bipartisan rebuke to the president.[w]

BUSH ASKS FILLER UP, HOW ABOUT THEM WINDOWS The House of Representatives voted to direct the Bush administration to stop filling the strategic petroleum reserve temporarily in an effort to alleviate increasing gas prices.[c]

GIVE THESE GUYS AND GALS A CIGAR OR THE BRASS RING... A Democratic proposal to impose a windfall profits tax on oil companies and roll back tax breaks for the industry and new protections against price-gouging is expected to face a Republican-led filibuster when it reaches the Senate floor, perhaps next week. [l] The Senate, jittery about a political backlash over the rising price of gasoline, voted by a veto-proof majority today to halt deliveries to the Strategic Petroleum Reserve over President Bush's objections.[l] The House is expected to follow suit later today.[l]

IT DID STOP PUTTING OIL UNDERGROUND “Sticking oil underground is wrong at this point in time,” Senator Byron Dorgan, Democrat of North Dakota, said as he urged approval of a measure offered by Senator Harry Reid of Nevada, the Democratic majority leader.[n]

WHY ARE WE STILL WORRIED ABOUT ARAB OIL CUT OFF The Senate voted, 97 to 1, to tell President Bush to halt the shipments to the strategic reserve, the supply of just over 700 million barrels that is stored in salt caverns along the Gulf Coast. The reserve is meant to protect the United States against a disastrous sudden cutoff of oil supplies, like the Arab embargo of the 1970s.[n] Tuesday evening, by a vote of 385 to 25, the House passed legislation that would suspend deliveries to the stockpile while the price of oil was above $75 a barrel, a measure that is similar to the Senate’s. [n]

BUSH SAYS KEEP PUTTING OIL UNDERGROUND The Bush administration has opposed the measures. Given the sentiment in the two legislative chambers, any veto of the measure by President Bush would probably be overridden. But the Senate measure is part of another bill, while the House version is a stand-alone item, so there are some procedural hurdles that must be overcome before the oil-cutoff move can emerge from the full Congress. [n] "Why on earth should we be putting oil underground at a time of record high prices?" Sen. Byron Dorgan (D-N.D.), the measure's chief sponsor, argued.[l]

BUSH SAY WHY BOTHER ITS JUST A DROP IN THE BARREL President Bush has argued that the 70,000 barrels a day now being added to the reserve is insignificant, compared with the country’s overall consumption of oil. On that point, even some supporters of Mr. Reid’s measure agreed. The United States consumes just under 21 million barrels of oil a day, according to the Energy Department.[n]

CONGRESS IS WORRIED FOR THEIR OWN SKINS, RIGHTFULLY! But members of Congress, who, unlike Bush, face reelection, are anxious to show they are doing something to respond to the high prices, even though there is little they can do in the short term to provide relief. Suspending deliveries to the reserve is a modest step that some supporters say could save motorists 2 to 5 cents a gallon, perhaps more.[l]

REPUBLICANS IN CONGRESS SAY ... BUSH WHO! Tuesday's vote marks a break between Republicans in Congress and Mr. Bush, whose popularity has sunk in the waning months of his term. The lone vote in support of Mr. Bush came from Wayne Allard, a Colorado Republican who plans to retire this year.[w]

WILL SYMBOLISM FEED MY HUMMER? Senator Pete Domenici of New Mexico, the ranking Republican on the Energy and Natural Resources Committee, conceded that stopping the shipments to the reserve might be largely a symbolic step. Even so, he said, “this is one little thing we can do, and I think we should go ahead and do it.”[n]

JUST ANOTHER PART OF THE WAR ON TERRORISM The president has argued that shipments to the reserve, which is now about 97 percent full, should be continued until the stockpile reaches its capacity of 727 million barrels. But most lawmakers said the 70,000 barrels a day, while only a tiny fraction of America’s daily consumption, would be better used to add supplies to the overall market, especially with oil now trading for more than $120 a barrel in the spot and futures markets.[n]

BUSHES MIDEAST BUDDIES WANT TO SELL US MORE OIL President Bush was preparing to depart for the Middle East on Tuesday, and there was no immediate word from the White House about whether Mr. Bush would definitely veto the oil measure.[n]

ALLARD THINKS OIL AND WATER MIX Only Senator Wayne Allard, a Colorado Republican who is not seeking re-election, voted against the measure, which took the form of an amendment to a flood insurance bill that was approved by a vote of 92 to 6.[n]

KEEP THE DRILLING Mr. Reid called the petroleum-reserve cutoff “a good first step” and said Republicans “must abandon their shortsighted strategy of ‘drill, drill, drill.’ ”[n] Shortly after the vote, Senate Democrats introduced legislation, timed to coincide with the president’s trip to the Middle East, to stop a scheduled arms sale to Saudi Arabia unless that country steps up its oil production.[n]

LOOK INTO HIS SOUL AND YOU’LL SEE THE BOWLES OF HELL “When the President meets with King Abdullah on Friday, we cannot settle for a smile, or a handshake, or even a glimpse into his soul,” said Senator Charles E. Schumer of New York. “We need a commitment to pump more oil. If Saudi Arabia and other OPEC countries do not substantially increase production, we in Congress will block their lucrative arms deals.”[n]

IF CHENY WANTS IT HE’S MAKING MONEY OFF OF IT Both the president and Vice President Dick Cheney have called on the Saudis to increase their output of oil.[n]

WHY WASTE OIL ON THE POLAR BEARS Earlier Tuesday, the Senate rejected an amendment offered by Senator Mitch McConnell of Kentucky, the Republican minority leader, that would have opened part of the Arctic National Wildlife Refuge for oil exploration. That proposal, which needed 60 yes votes on a procedural motion to move ahead, got only 42, while 56 Senators voted no, effectively killing the amendment. [n] Drilling in the refuge could produce a million barrels of oil a day and "reduce gasoline prices by 14 times the price reduction achieved by redirecting oil from the SPR," said House Republican Leader John Boehner of Ohio and Republican Whip Roy Blunt of Missouri in a letter Monday to Speaker Nancy Pelosi, D-California.[c]

LETS RIP OFF THE WESTEREN STATES The Republicans also proposed tapping reserves in Colorado, Utah and Wyoming, where an estimated 1.5 trillion barrels of oil shale exist.[c] However, Pelosi argued that more drilling is not the answer, saying drilling on federal lands has increased over the years without affecting gas prices. She also said opening the arctic refuge for drilling would only provide six months of oil -- 10 years from now.[c]

DEMS ACCOUNTED FOR..... MCCAIN MISSING IN ACTION Senators Hillary Rodham Clinton of New York and Barack Obama of Illinois interrupted their campaigns for the Democratic presidential nomination to vote to halt shipments to the petroleum reserve. Senator John McCain of Arizona, the presumptive Republican nominee, was not present.[n]

CAN I FILL UP MY CAR AT ONE OF THESE CAVES? The Strategic Petroleum Reserve is a network of salt caverns along the Gulf Coast where the government began stockpiling oil in the wake of the 1973-74 Arab oil embargo. For months, the administration has defended its policy of adding to the reserve, even as oil prices surged, on national-security grounds. In a news conference two weeks ago, President Bush cited the risk of a terrorist attack by al Qaeda on oil facilities, saying such attacks would have a significant impact on the U.S. economy.[w] "The SPR is an insurance policy," said Keith Hennessey, a top economic-policy adviser to Mr. Bush. "Just because your budget is being squeezed doesn't mean you stop paying your insurance policy."[w]

THIS....IS ALL WE GET...GET RID OF ALL OF THESE FOOLS The action, supported by the Democratic and Republican presidential candidates, comes as high fuel costs have contributed to the nation's economic woes and become a hot issue on the campaign trail. It could be the only legislation that Congress passes this year in response to public angst at the fuel pump because of the parties' differences over energy issues.[l]

WHEN WILL YOU GET ANGRY AND OFF YOUR BUTT $4.00 PER GALLON OF $6.00 PER GALLON, MABEY $8.00...ITS COMING The measure's approval came as the national average price for a gallon of regular unleaded gasoline hit a record of more than $3.73, up from $3.07 a year ago, according to the American Automobile Assn.[l] UPDATE — 6 p.m. — White House spokesman Scott Stanzel told me by e-mail that the president "will not veto legislation based on the SPR provision, which is what he was signaling today."[w] "He maintains his view that halting the filling of the reserve will not have a meaningful impact on oil prices or gas prices. The Senate made clear today that they want to attempt that measure," Mr. Stanzel said. "The president hopes that this vote on the SPR will not distract members of Congress from the things they could be doing that would actually make a difference for the future, like opening up new domestic supply in an environmentally sensitive way in ANWR [Arctic National Wildlife Refuge] and the OCS [Outer Continental Shelf]."[w].....MORON...

Posted here by Terry Bankert ... 5/13/08

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Link here for a re broadcast OF THE 5/3/08 GOOD MORNING FLINT ON FLINT TALK RADIO http://www.talkshoe.com/talkshoe/web/audioPop.jsp?episodeId=113134&cmd=apop FLINT TALK POD CAST LIBERAL AND LIVE To watch the live show on Saturday at 10 am http://www.flinttalkradio.com/ Flint Talk Radio archive of shows done live. http://www.stickam.com/viewMovieGallery.do?uId=175398425 FLINT TALK RADIO WHICH INCLUDES THE SATURDAY MORNING WFLT 1420 AM SHOW. The 5/10/08 lost the video so it is available only here http://www.talkshoe.com/talkshoe/web/talkCast.jsp?masterId=18053&cmd=tc


[n] The New York Times http://www.nytimes.com/2008/05/14/business/14oil.html?ref=us

[w] The Washington Times http://video1.washingtontimes.com/potusnotes/2008/05/bush_reverses_opposition_to_su.html

[L] The Los Angles Times http://www.latimes.com/news/nationworld/washingtondc/la-na-oil14-2008may14,0,7121752.story [w] The Wall Street Journal http://online.wsj.com/article/SB121069489043288599.html?mod=googlenews_wsj

[c] CNN http://edition.cnn.com/2008/POLITICS/05/13/congress.oil/


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1 comment:

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