Evil Energy Speculators

by Steve MacDonald 

Thanks to commenter JackL for the reminder; that Jeanne “no oversight” Shaheen, Barack ‘Boondoggle’ FauxBama and the Democrats have always relied on the lie that rising energy prices were the result of “Evil Oil Speculators.”

Evil Speculators…speculators…

Isn’t what Mr. Obama, Secretary Chu, and Senate Energy Committee maven Greene Jeanne Shaheen have done, energy speculation?  Aren’t they energy speculators?  What else do you call investing tens of billions in the future value of green energy?  It’s energy speculation.

Well how is that working out so far?

The Evil oil speculators risk their money on the price of something that goes up and down, but to its credit, actually produces energy we can use and even at its highest price, was still significantly cheaper than any of the green alternatives.

The Evil Green Energy Speculators (Obama, Greene Shaheen, etc.) risked tens of billions in taxpayers dollars (not their own money), during a recession, on extremely expensive, inefficient, limited use technology, made by poorly run companies with close ties to the political party and President who pushed the ‘investment,’ most or all of whom have now spent our money, collapsed, or filed for bankruptcy.

What the Democrats have done is, without a doubt, energy speculation.  But from where I sit, only one of them is actually evil.

You are reading "Evil Speculators"  by Steve Mac Donald originally posted at GraniteGrok.com.(Home)

Laying Some Pipe

The Democrat controlled Senate had the opportunity to create jobs, generate growth, add some tax revenue, and did I say create jobs?  But Harry Reid couldn't bring himself to get the Keystone XL Pipeline project approved before the recess.

According to Human Events-Capitol Briefs (Print edition), the pipeline is a $7 billion dollar project, fully funded with private money.  (That might be part of why Reid is in no big hurray.)  The Project would create and estimated $20 billion in new spending while it created 120,000 jobs and added 200 million in state and local taxes.

Workers would lay 1600 miles of pipe from Canada to Texas.

Private sector jobs, economic growth, no cost to taxpayers, and more tax revenue to states and local municipalities.   

Harry Reid and the democrat controlled Senate just had to work out the schedule and push the start button but Reid can't manage get to it.  Instead the Senate is on summer recess until sometime in September.

It is a sad but predictable outcome from the leaders in the democrat party who still control what gets done (and does not get done in) our nations Capitol.  The White House is not interested in the bill so Reid is doing what he has continued to do since November 2010.  He is using the Senate to shield Mr. Obama from having to deal with anything that might make him look bad in the run up to the election.

So do not expect those  120,000 jobs to be created with rich people money.  Forget about the boost to local economies and increased tax revenue from more domestic commerce.   Instead of getting oil from an ally like Canada, since we still can't seem to find a way to drill our own, well get it shipped in on giant diesel powered tankers, across our pristine oceans, and trucked across the fruited plain to refineries.  While we're a it, lets make sure we keep giving as much of that money and commerce as possible to people likeHugo Chavez of Venezuela.

We can call it the Obama Plan for American Energy in-Security.

Note: If you contact NH Senator Shaheen to ask her position, Greene Shaheen will probably tell you the following:" Canadian oil is more corrosive and there is some concern that it would corrode the pipes and cause a catastrophic spill." 

This is the Green Lobby talking point.  They also say, according to the electronic version of the article, that US oil is less corrosive.  (Wouldn't it be great if they let us drill for some of that?)

Human Events

Audrey Hudson

Eight Miles Per Gallon

Candidate Obama Bullish on Oil?

The Financial Times reports  (free subscription) that the Obama White House is planning to call on oil companies to increase domestic production.  In another Obama speech, today, the new plan is expected to focus on Oil, responsible natural gas, and a hot button for the left--when they claim to be in favor of drilling--forcing oil companies to use those idle leases.

The oil industry response on leases (from FT)...

“Companies are investing billions of dollars in these leases to explore for resources, which the department has long understood to be part of the exploration process. By ignoring the reality that extensive geological surveys, inventory assessments and the explorations process itself can take years and cost billions, the department just misses the point,” the National Association of Manufacturers said.

So the leases are more a promise to let them work the mineral rights once they have done all the heavy lifting?  I'm OK, if that's the point, but if the left is genuine in its desire to let oil companies drill, I say open the spigot and start developing any leases that are ready to be tapped.  The impact on future production will send a message to speculators, we can have some serious job creation, and much needed revenue.  And this isn't just about oil jobs.  Growth in the oil and natural gas industry will impact dozens of other industries in a positive way from manufacturing to retail.

So am I suspicious of Candidate Obama?  Of course.  Candidate Obama makes speeches, then leaves others to decide what they really mean, and to develop or implement policy based on true intentions.  That has yet to work out well.  Given the 'experts' he surrounds himself with, that policy will make it impossible to operate without oppressive state sanction and oversight, bordering on a state run oil monopoly.  This is also known as slower, less efficient, and unproductive.  And if history is any guide, any legislation to facilitate this latest "energy utopia" (even one with oil in it) will be 3000 pages of nonsense that cripples the industry while spending hidden billions to create a new bureau to regulate cheese puff manufacturers, Phrenologists, and on-road truckers.

But he's giving the speech anyway.  So just think of it as another Obama-ism--words full of hope and change, signifying nothing.

Posted Here

Does Oil Slick Barry Need A New Groove?

Kevin Costner went before congress Wednesday with a solution to the oil spill clean up in the Gulf, but to democrats, it could be more of a problem.  Costner owns a company with his brother called Ocean Therapy Solutions that makes equipment designed to be deployed anywhere there’s water, that can suck up oil spills, separate the oil out, and return the water.  He says its 97-99% effective at separating oil from water, and the oil that is extracted is ready to be used.  So it cleans up oil, salvages it, while returning the water.  So why is this a problem? 

His private sector company has mastered a technology it bought from the government back in 1995 with his own money, that could clean up oils spills allowing for safer drilling anywhere there is water.  If we simply disregard the whole "private sector entrepreneurial free market economy spirit does it better" argument, (which is almost as important an argument in this context) the left does not want to make drilling seem safer.   They want to make it appear so dangerous that people will embrace their green agenda out of fear of whatever consequence will hold populist water. The very existence of a machine that can quickly handle any oil spill takes away the fear mongering argument almost completely.  

BP already has 6 Ocean Therapy centrifuges operating in the gulf and has ordered 32 more, according to Examiner.com.  If they all get deployed and things go swimmingly, Oil Slick Barry may have to come up with another strategy for killing off an entire industry (or absorbing it Maxine Waters like into the government where they can then squeeze it to death) simply as a matter of political will. 

The left will also have to explain limiting production on existing rigs, as well as their obstructionist agenda on new drilling given these new developments.  Expanding oil production would be a significant boon to the domestic economy (among others).  Denying it room to grow would be that much harder.  So while the success of Ocean Therapy has immediate political benefits for the clean up, just how much trouble could it be down the road for a party that runs on killing big oil?