Congress is completely obtunded to reality. There was a time in the USA when people elected to office wanted to know the FACTS and act on them rather than giving a 95 percent priority to political funding parties.
To begin there is no reason to sell the Strategic Energy Reserves to fund the USA budget. Funding short falls can be realized by ending the bloated OCO funds and returning it to an Executive Branch budget.
Secondly, there are several reasons to uphold the US Oil Export Ban. Does the USA actually appreciate the relationship it has with other countries that do export oil? Or is the idea of the USA exportation of oil to further degrade any fiscal stability of Russia? Because further degrading of the global oil markets hits many more countries than Russia. As a matter of fact there are USA allies that are densely dependent on that oil market such as Norway and the Netherlands that offshore oil in the North Atlantic.
The USA Congress is on an all time high to pander to the petroleum industry before their dual house majority fades away. That is cronyism. There is no need for the USA to export oil or any other petroleum product. There is less and less demand for petroleum/fossil fuel energy every day. It is by far the worst time to allow oil exports from the USA. It would only serve to completely destroy the global oil markets. It is hideous. The export ban would serve to completely fail any of it's purpose. If the idea is to support jobs and pay for the national budget that is completely absurd.
July 23, 2015
By Timothy Gardner
...Furthermore, (click here) a 40-year-old ban on U.S. crude oil exports has already helped lead to a domestic oil glut, pushing down U.S. prices to more than $6 per barrel lower than the global Brent benchmark .
"Tapping the SPR and not allowing exports of domestic oil would be a catastrophe," said Amy Myers Jaffe, head of Energy and Sustainability at the University of California at Davis, and a consultant who advises governments on energy. "Oil would be trapped here and you'd hurt domestic production." Selling oil to raise cash for projects unrelated to bolstering energy security also has stiff opponents in Senators Lisa Murkowski and Maria Cantwell, the Republican and Democratic leaders of the Senate energy committee. It is uncertain whether the drugs bill and the highway bill will pass both chambers of Congress, but idea of tapping the SPR is unlikely to fade....
It isn't enough to have the oil market glut occur while the petroleum industry financed it's greed in North Dakota by 90% of it's projected income. The projected income was a completely idiotic estimate. Now the USA petroleum industry is failing and the banks bought into the idea they would be bailed out when such things as the oil export ban was upheld.
"W"rong.
The banks may very well have to eat this one. And why? Because they didn't learn the from 2008.
Banks don't understand or are selective in their understanding of what supply and demand does to a product? Is the idea that the 'buy-hold-sell' of Wall Street is short sighted is more than obvious. There is no reliable expertise in the global financial markets as evidenced by the oil markets and the greed merchants of the American petroleum industry.
The winters of the USA require the strategic oil reserve be maintained intact and perhaps expanded. This while the expansion of alternative energies are being built as quickly as possible to bring a reasonable solution to the demand of the American people. Did the strategic energy reserve ever picture being needed to the point of protecting the people from freezing to death? Of course, that doesn't occur to Republicans. Republicans only react to the dangers of living in America due to the climate crisis until the dramatic damages are done and the deaths counted. Then there is that very sad "State of Emergency" that requires federal monies.
Decades of neglect by the Republicans and their pandering to their cronies have brought the American people to the point where tragedy is served up daily. If it isn't heat, drought and water rationing, it is freezing temperatures and failing infrastructure that requires snow trucks to dump the snow into the Atlantic. The gross negligence of the Republican Party and now it's majorities is immoral and a complete pander to the petroleum industry.
I'll end this with a picture all too real to the obtunded rule of Reagan Republicans.
Here we do again with the Republicans UNABLE to grow the USA economy except for oil world ideas. I don't think so.
THE PROFITABILITY OF THE FEDERAL GOVERNMENT KILLS. Thank you, Ronald Reagan. (click here)
To begin there is no reason to sell the Strategic Energy Reserves to fund the USA budget. Funding short falls can be realized by ending the bloated OCO funds and returning it to an Executive Branch budget.
Secondly, there are several reasons to uphold the US Oil Export Ban. Does the USA actually appreciate the relationship it has with other countries that do export oil? Or is the idea of the USA exportation of oil to further degrade any fiscal stability of Russia? Because further degrading of the global oil markets hits many more countries than Russia. As a matter of fact there are USA allies that are densely dependent on that oil market such as Norway and the Netherlands that offshore oil in the North Atlantic.
The USA Congress is on an all time high to pander to the petroleum industry before their dual house majority fades away. That is cronyism. There is no need for the USA to export oil or any other petroleum product. There is less and less demand for petroleum/fossil fuel energy every day. It is by far the worst time to allow oil exports from the USA. It would only serve to completely destroy the global oil markets. It is hideous. The export ban would serve to completely fail any of it's purpose. If the idea is to support jobs and pay for the national budget that is completely absurd.
July 23, 2015
By Timothy Gardner
...Furthermore, (click here) a 40-year-old ban on U.S. crude oil exports has already helped lead to a domestic oil glut, pushing down U.S. prices to more than $6 per barrel lower than the global Brent benchmark .
"Tapping the SPR and not allowing exports of domestic oil would be a catastrophe," said Amy Myers Jaffe, head of Energy and Sustainability at the University of California at Davis, and a consultant who advises governments on energy. "Oil would be trapped here and you'd hurt domestic production." Selling oil to raise cash for projects unrelated to bolstering energy security also has stiff opponents in Senators Lisa Murkowski and Maria Cantwell, the Republican and Democratic leaders of the Senate energy committee. It is uncertain whether the drugs bill and the highway bill will pass both chambers of Congress, but idea of tapping the SPR is unlikely to fade....
It isn't enough to have the oil market glut occur while the petroleum industry financed it's greed in North Dakota by 90% of it's projected income. The projected income was a completely idiotic estimate. Now the USA petroleum industry is failing and the banks bought into the idea they would be bailed out when such things as the oil export ban was upheld.
"W"rong.
The banks may very well have to eat this one. And why? Because they didn't learn the from 2008.
Banks don't understand or are selective in their understanding of what supply and demand does to a product? Is the idea that the 'buy-hold-sell' of Wall Street is short sighted is more than obvious. There is no reliable expertise in the global financial markets as evidenced by the oil markets and the greed merchants of the American petroleum industry.
The winters of the USA require the strategic oil reserve be maintained intact and perhaps expanded. This while the expansion of alternative energies are being built as quickly as possible to bring a reasonable solution to the demand of the American people. Did the strategic energy reserve ever picture being needed to the point of protecting the people from freezing to death? Of course, that doesn't occur to Republicans. Republicans only react to the dangers of living in America due to the climate crisis until the dramatic damages are done and the deaths counted. Then there is that very sad "State of Emergency" that requires federal monies.
Decades of neglect by the Republicans and their pandering to their cronies have brought the American people to the point where tragedy is served up daily. If it isn't heat, drought and water rationing, it is freezing temperatures and failing infrastructure that requires snow trucks to dump the snow into the Atlantic. The gross negligence of the Republican Party and now it's majorities is immoral and a complete pander to the petroleum industry.
Here we do again with the Republicans UNABLE to grow the USA economy except for oil world ideas. I don't think so.
THE PROFITABILITY OF THE FEDERAL GOVERNMENT KILLS. Thank you, Ronald Reagan. (click here)
