Focusing on guns, politics, and news of interest, here is today's Second Amendment News Roundup:
From Codrea's War on Guns:
*'From the Ivory Towers of Higher Learning'--no surprises here who they support for President as they indoctrinate young minds!
*'More Guns Are Not the Answer'--looks like Barbie has been indoctrinated by professors in the Ivory Towers! What a twit.
*'Not Properly Bound'--looks like the JBTs of the ATF are harassing a gun dealer who has had a squeaky clean record for over 20 years.
*'The Human Factor'--the CIA, the growth of government, and 'homegrown terrorists.'
*Finally, David has THIS comment on the scientific report issued over the weekend that shows a vegetarian diet will shrink your brain but grow your boobs.
Western Rifle Shooters Association posts Mike Vanderboegh's riveting 'Somewhere, A True Believer is Training to Kill You.'
The Buckeye Firearms Association has 'Barack Obama and John Kerry--Geese of a Feather.'
Sebastian reports the good news from South Carolina on reciprocity, via Say Uncle.
Nicki posts her latest edition of 'Idiots with Keyboards.'
Breda says she's getting ready to take over the world. Sounds like she has all she needs.
Say Uncle has a brand new look for his blog. Go take a look!
Alphecca comments on today's bad news out of Wall Street.
Freedom Sight says that D.C. may be backing down in its showdown with the federal government over its gun control laws.
Roberta X is the latest of us holdouts who has declared support for the Palin ticket and that guy she's running with.
Mike McCarville reports that McCain-Palin have hit 50% for the first time in the Rasmussen Daily Tracking Poll, and are still 3 points ahead of Obama-Biden.
Texas Fred comments on the news that today crude oil has plummeted to 95 bucks per barrel.
The Rustmeister blows the whistle on Obama's discriminatory employment practices.
Days of Our Trailers posts some interesting figures on prison recidivism and its implications for violence.
The Smallest Minority has the quote of the day.
Insight on Freedom provides us with the MUST-read of the day, and it's entitled, 'Socialism and Obama.' Read it all.
Michelle Malkin wants to know which disabled war vets will Obama and Biden attack and make fun of next. They have already lampooned McCain over the fact that his war injuries prevent him from typing on a computer. Folks, these guys are not only sleazy but they are f*cking as*hole c*cksuckers! You just don't make fun of a person's war injuries, and those who do are slime who are lower than whale dung at the bottom of the ocean.
Speaking of as*holes, the mighty CBS News has pronounced the verdict on Sarah Palin, and Gateway Pundit has the story.
But apparently CBS has its head so far up Barack Obama's as* they don't even notice what's actually going on in the country, as Palin causes a surge for McCain even in blue states like New York! Once again, Gateway has the story.
Showing posts with label crude oil. Show all posts
Showing posts with label crude oil. Show all posts
Monday, September 15, 2008
This Time There IS Price-Gouging Post-Hurricane
As regular readers of this blog know, I have been a staunch defender of the right of oil companies to make a good profit, without government interference, for their shareholders.
The American people, a majority of whom are invested in oil companies through their various pension programs, also deserve to get a good return on their investment as they face retirement.
On the strength of oil company profits, our pension programs have been prevented from going broke in the wake of the poor performance of many other industries.
That being said, price-gouging is wrong, period. And many local gasoline vendors in the Southeast and the Deep South are guilty of it following Hurricane Ike.
As we have mentioned many times, the price of gasoline at the pump is largely determined by 'oil futures.' On the open market, the price of oil is determined by what investors, or 'oil speculators,' think the price of oil will be in the future.
The oil companies have stated over the weekend that there was no major disruption of oil production in the Gulf due to Hurricane Ike. They experienced a one-day shut-down at most, along with minimal damage.
Oil speculators have determined that the price of oil will be the lowest in over a year, with the price of crude dropping to just below 100 bucks per barrel--down over 20 bucks a barrel from just a few weeks ago.
Thus, there is no good reason for gasoline prices at the pump currently standing at 4 bucks per gallon and higher in the Southeast. Some have even sold gasoline for $5.60 per gallon.
With crude going for the cheapest prices we've seen in over a year, and with oil speculators bidding downward on the value of oil, we should be paying the lowest prices at the pump since the summer of 2007.
Unless the oil companies and their vendors on the local level bring this about, then the patience of the American people will run out, even among their fiercest defenders, such as myself.
Price-gouging is a despicable practice, and appearances mean everything. If the oil companies fail to act in good faith in response to market forces that are driving the price of oil DOWNWARD, then the American people will most definitely lose faith in the oil industry.
The time is NOW for gasoline prices to plummet if the oil industry expects to salvage what's left of its tentative reputation.
The American people, a majority of whom are invested in oil companies through their various pension programs, also deserve to get a good return on their investment as they face retirement.
On the strength of oil company profits, our pension programs have been prevented from going broke in the wake of the poor performance of many other industries.
That being said, price-gouging is wrong, period. And many local gasoline vendors in the Southeast and the Deep South are guilty of it following Hurricane Ike.
As we have mentioned many times, the price of gasoline at the pump is largely determined by 'oil futures.' On the open market, the price of oil is determined by what investors, or 'oil speculators,' think the price of oil will be in the future.
The oil companies have stated over the weekend that there was no major disruption of oil production in the Gulf due to Hurricane Ike. They experienced a one-day shut-down at most, along with minimal damage.
Oil speculators have determined that the price of oil will be the lowest in over a year, with the price of crude dropping to just below 100 bucks per barrel--down over 20 bucks a barrel from just a few weeks ago.
Thus, there is no good reason for gasoline prices at the pump currently standing at 4 bucks per gallon and higher in the Southeast. Some have even sold gasoline for $5.60 per gallon.
With crude going for the cheapest prices we've seen in over a year, and with oil speculators bidding downward on the value of oil, we should be paying the lowest prices at the pump since the summer of 2007.
Unless the oil companies and their vendors on the local level bring this about, then the patience of the American people will run out, even among their fiercest defenders, such as myself.
Price-gouging is a despicable practice, and appearances mean everything. If the oil companies fail to act in good faith in response to market forces that are driving the price of oil DOWNWARD, then the American people will most definitely lose faith in the oil industry.
The time is NOW for gasoline prices to plummet if the oil industry expects to salvage what's left of its tentative reputation.
Sunday, August 10, 2008
S.C. GOP Senator Joins Anti-Drilling Democrats
U.S. Senator Lindsey Graham, R-South Carolina, has joined the so-called Senate 'Gang of 10' that is working on an energy bill that will placate anti-drilling Democrats.
The 'Gang' is comprised of 5 Democrats and 5 Republicans. Fair enough. But the Republicans in the Gang have basically sold out to those liberals who are against oil drilling in the very areas that are richest in crude.
GOP Congressmen and Senators who are now demanding that Democrats return to work and join them in 'drill here, drill now' are incensed that these 5 Republicans would go for such a sham, particularly when it would effectively shut down the floor revolt the GOP has mounted on an issue that finds broad support in the electorate--offshore drilling in the areas shown to be rich in crude oil.
Graham is joined by Republican Senators Saxby Chambliss, John Thune, Bob Corker, and Johnny Isakson in this slap in the face of their colleagues who demand action on drilling, and drilling without miles and miles of restrictions and red tape.
The bill that the Gang of 10 supports would not allow drilling within 50 miles of the coastline--the very area where there are some of the richest crude oil fields. Drilling is limited to only 4 coastal states and then only if the state legislatures approve it. ANWR is still off limits. And get this--federal taxes will be raised on oil companies to pay for developing 'alternative fuels.'
Nancy Pelosi and the Sierra Club couldn't have asked for a greater gift.
On the other hand, the bill that House Republicans demand includes provisions for drilling anywhere in the offshore region where there is an ample supply of crude. ANWR is included in the plan. This is key. If we don't get our own oil there, the U.N. has already said it will, and Democrats are ready to give it to them!
In addition, the GOP plan in the House includes development of wind, solar, nuclear, coal, and hydrogen fuel cell technology. And it does not call for more federal taxes on oil companies, which already pay over 50% of their profits in taxes. This is in addition to the cents-per-gallon taxes the government collects at the pump.
In South Carolina politics, Graham is an enigma. When it comes to certain issues he can certainly sound as conservative as any. But on some major key issues he is nothing more than a RINO.
In contrast, S.C.'s other GOP Senator, Jim DeMint, is a stalwart conservative all the way. DeMint is leading the effort in the Senate to get Harry Reid and the Democrats to delete the ban on offshore oil drilling from the 2009 budget resolution.
DeMint has also threatened to shut down the government, i.e., approve no budget at all, unless the ban on offshore drilling is lifted. THAT is leadership.
Graham is in a re-election bid this November with very little serious opposition. But the problem is that he has already created opposition within his own Party in South Carolina by supporting measures that conservatives deplore.
The fact that he is part of this 'Gang of 10' certainly does nothing to improve his image.
Read more about the 'Gang of 10' at dontgomovement.com.
The 'Gang' is comprised of 5 Democrats and 5 Republicans. Fair enough. But the Republicans in the Gang have basically sold out to those liberals who are against oil drilling in the very areas that are richest in crude.
GOP Congressmen and Senators who are now demanding that Democrats return to work and join them in 'drill here, drill now' are incensed that these 5 Republicans would go for such a sham, particularly when it would effectively shut down the floor revolt the GOP has mounted on an issue that finds broad support in the electorate--offshore drilling in the areas shown to be rich in crude oil.
Graham is joined by Republican Senators Saxby Chambliss, John Thune, Bob Corker, and Johnny Isakson in this slap in the face of their colleagues who demand action on drilling, and drilling without miles and miles of restrictions and red tape.
The bill that the Gang of 10 supports would not allow drilling within 50 miles of the coastline--the very area where there are some of the richest crude oil fields. Drilling is limited to only 4 coastal states and then only if the state legislatures approve it. ANWR is still off limits. And get this--federal taxes will be raised on oil companies to pay for developing 'alternative fuels.'
Nancy Pelosi and the Sierra Club couldn't have asked for a greater gift.
On the other hand, the bill that House Republicans demand includes provisions for drilling anywhere in the offshore region where there is an ample supply of crude. ANWR is included in the plan. This is key. If we don't get our own oil there, the U.N. has already said it will, and Democrats are ready to give it to them!
In addition, the GOP plan in the House includes development of wind, solar, nuclear, coal, and hydrogen fuel cell technology. And it does not call for more federal taxes on oil companies, which already pay over 50% of their profits in taxes. This is in addition to the cents-per-gallon taxes the government collects at the pump.
In South Carolina politics, Graham is an enigma. When it comes to certain issues he can certainly sound as conservative as any. But on some major key issues he is nothing more than a RINO.
In contrast, S.C.'s other GOP Senator, Jim DeMint, is a stalwart conservative all the way. DeMint is leading the effort in the Senate to get Harry Reid and the Democrats to delete the ban on offshore oil drilling from the 2009 budget resolution.
DeMint has also threatened to shut down the government, i.e., approve no budget at all, unless the ban on offshore drilling is lifted. THAT is leadership.
Graham is in a re-election bid this November with very little serious opposition. But the problem is that he has already created opposition within his own Party in South Carolina by supporting measures that conservatives deplore.
The fact that he is part of this 'Gang of 10' certainly does nothing to improve his image.
Read more about the 'Gang of 10' at dontgomovement.com.
Wednesday, June 11, 2008
Drill Here, Drill Now
South Dakota has approved the construction of the first oil refinery to be built in America in nearly 35 years. Perhaps they are onto something that the rest of the country is struggling to recognize.
The area around the Dakotas westward and southward has been identified recently by explorers as perhaps the richest untapped source of crude oil in the world. It has been estimated that enough crude sits under the ground in America's plains to sustain our petroleum needs ad infinitum.
In addition, the latest polls show that Americans overwhelmingly want U.S. oil companies to begin drilling here, now, immediately, in order to begin to wean ourselves off of foreign oil.
Perhaps South Dakota is prudently preparing itself for the coming new era in oil drilling and refining in this country--something that should have been done years ago.
This is not to say that hydrogen fuel cell technology and bio-diesel, along with a massive expansion of solar and nuclear power, should not be pursued. It is essential that these alternative sources be developed, with the exception of corn-based biofuel that uses food for fuel--a terribly ill-conceived and expensive plan.
Bio-diesel is a much better choice because it uses switch-grass as its source rather than a food substance.
But in the short term our society cannot sustain itself on these alternative sources which have not yet been fully developed with efficient delivery systems. We still need the oil, and we need it NOW.
It is the height of stupidity not to drill in our own country. We are sitting on a goldmine, but we had rather listen to imbecilic environmentalist wackos who probably need to be locked up in mental hospitals.
Their day in the sun should come to an abrupt end. Their determination to stop the U.S. from using its own resources, resulting in a continued dependence on foreign oil, has been one of the biggest failures ever perpetrated on the American public.
This, in addition to the fact that China is now drilling in the Gulf, just off of the U.S. coastline, should be ample proof that the wackos who have had our hands tied for over 30 years should be muzzled and placed on psychotropic meds. The Commies are drilling for oil right in our own backyard, yet the U.S. is prevented from doing the same thing.
It is time to bring some sanity back into U.S. energy policy. Drill here. Drill now.
The area around the Dakotas westward and southward has been identified recently by explorers as perhaps the richest untapped source of crude oil in the world. It has been estimated that enough crude sits under the ground in America's plains to sustain our petroleum needs ad infinitum.
In addition, the latest polls show that Americans overwhelmingly want U.S. oil companies to begin drilling here, now, immediately, in order to begin to wean ourselves off of foreign oil.
Perhaps South Dakota is prudently preparing itself for the coming new era in oil drilling and refining in this country--something that should have been done years ago.
This is not to say that hydrogen fuel cell technology and bio-diesel, along with a massive expansion of solar and nuclear power, should not be pursued. It is essential that these alternative sources be developed, with the exception of corn-based biofuel that uses food for fuel--a terribly ill-conceived and expensive plan.
Bio-diesel is a much better choice because it uses switch-grass as its source rather than a food substance.
But in the short term our society cannot sustain itself on these alternative sources which have not yet been fully developed with efficient delivery systems. We still need the oil, and we need it NOW.
It is the height of stupidity not to drill in our own country. We are sitting on a goldmine, but we had rather listen to imbecilic environmentalist wackos who probably need to be locked up in mental hospitals.
Their day in the sun should come to an abrupt end. Their determination to stop the U.S. from using its own resources, resulting in a continued dependence on foreign oil, has been one of the biggest failures ever perpetrated on the American public.
This, in addition to the fact that China is now drilling in the Gulf, just off of the U.S. coastline, should be ample proof that the wackos who have had our hands tied for over 30 years should be muzzled and placed on psychotropic meds. The Commies are drilling for oil right in our own backyard, yet the U.S. is prevented from doing the same thing.
It is time to bring some sanity back into U.S. energy policy. Drill here. Drill now.
Wednesday, May 28, 2008
Bill O'Reilly WRONG About Oil
I happened to catch part of Fox News commentator Bill O'Reilly's radio show this evening, and I must admit I was shocked to hear some of the positions taken by the popular media personality.
Of late I have found myself breaking ranks with O'Reilly on an increasing number of issues, but I was floored that he would spout the common 'blame the oil companies' mantra that one hears from Democrats in Congress.
To get straight to the point, O'Reilly is FLAT WRONG about oil.
In order to 'fix' the problem of rising oil prices, O'Reilly would punish the oil companies, as if they are the ones responsible for the problem, which they aren't. He also came close to spouting the Obama claim that the oil companies are guilty of 'price gouging,' though he stopped just sort of saying that.
Once again, let's set the record straight, shall we?
Out of every dollar we spend at the pump, 70 cents goes to purchase crude oil, most of which is imported from other countries. Crude is up by 100 dollars per barrel since 1998.
It doesn't take rocket science to figure out that most of the increases in gasoline prices at the pump over the last 10 years can be traced directly to the price of crude.
The big oil companies must purchase this crude, the price of which is set by the open market, OPEC, and investors/speculators.
Further, out of every dollar we spend at the pump, only about 3 cents goes to the big oil companies in profits.
But here is the biggie. Out of every dollar we spend at the pump, 6.5 cents goes for federal taxes, and anywhere from 15 to 20 cents goes for state and local taxes, depending on the state/municipality in which one lives.
As you can see, this leaves very little profit margin for local gas stations.
Thus, if Mr. O'Reilly wishes to play the blame game, he is picking on the wrong ones. Government at the federal, state, and local levels makes 8 times what the oil companies make in profits. And as long as crude oil accounts for 70% of the price we pay at the pump, Americans will see very little relief until the price of crude comes down.
And instead of brow-beating the oil companies for doing what a corporation is supposed to do--make a profit for its stockholders--why not brow-beat government for raking in multi-billions of dollars in taxes on gasoline? Why isn't anyone talking about or reporting how much government profits from these high gasoline prices?
It's very simple. They don't want you to know.
I can tell you this, the next time you hear a specific number on oil company profits, just multiply that number by 7, and you will get a ballpark estimate of what government is raking in from gasoline prices.
Those are the simple facts regardless of any demagoguery from O'Reilly or the Democrats.
Of late I have found myself breaking ranks with O'Reilly on an increasing number of issues, but I was floored that he would spout the common 'blame the oil companies' mantra that one hears from Democrats in Congress.
To get straight to the point, O'Reilly is FLAT WRONG about oil.
In order to 'fix' the problem of rising oil prices, O'Reilly would punish the oil companies, as if they are the ones responsible for the problem, which they aren't. He also came close to spouting the Obama claim that the oil companies are guilty of 'price gouging,' though he stopped just sort of saying that.
Once again, let's set the record straight, shall we?
Out of every dollar we spend at the pump, 70 cents goes to purchase crude oil, most of which is imported from other countries. Crude is up by 100 dollars per barrel since 1998.
It doesn't take rocket science to figure out that most of the increases in gasoline prices at the pump over the last 10 years can be traced directly to the price of crude.
The big oil companies must purchase this crude, the price of which is set by the open market, OPEC, and investors/speculators.
Further, out of every dollar we spend at the pump, only about 3 cents goes to the big oil companies in profits.
But here is the biggie. Out of every dollar we spend at the pump, 6.5 cents goes for federal taxes, and anywhere from 15 to 20 cents goes for state and local taxes, depending on the state/municipality in which one lives.
As you can see, this leaves very little profit margin for local gas stations.
Thus, if Mr. O'Reilly wishes to play the blame game, he is picking on the wrong ones. Government at the federal, state, and local levels makes 8 times what the oil companies make in profits. And as long as crude oil accounts for 70% of the price we pay at the pump, Americans will see very little relief until the price of crude comes down.
And instead of brow-beating the oil companies for doing what a corporation is supposed to do--make a profit for its stockholders--why not brow-beat government for raking in multi-billions of dollars in taxes on gasoline? Why isn't anyone talking about or reporting how much government profits from these high gasoline prices?
It's very simple. They don't want you to know.
I can tell you this, the next time you hear a specific number on oil company profits, just multiply that number by 7, and you will get a ballpark estimate of what government is raking in from gasoline prices.
Those are the simple facts regardless of any demagoguery from O'Reilly or the Democrats.
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