Infinite Monkeys
The Democrats' plan for helping to send gas prices back down is to attack American oil companies. That's not going to do much good, considering that America's "Big Oil" devils control only around 7 percent of the world's oil market — thanks, in large part, to Congress putting America's vast oil reserves off limits.
John Hinderaker at Powerline points to statistics that indicate who is most responsible in the United States for high oil prices. (Hint: It's not "Big Oil" or the Republican buddies of Bush):
91% of House Republicans have historically voted to increase the production of American-made oil and gas.86% of House Democrats have historically voted against increasing the production of American-made oil and gas.
The law of supply and demand is simple. Increase the amount of a commodity and decrease the price. And since the global trading of oil is very sensitive to potential of increased oil production, just declaring the U.S. open again for drilling would have a dramatic effect on crude prices. And the price of crude has the greatest influence on America's gas prices.
Powerline's Paul Mirengoff adds a good point to John's post:
It's useful to keep this sort of thing in mind when we hear (on something like a daily basis these days) that the Republicans have run out of ideas or that Republican ideas didn't work. The truth is that most major Republican ideas weren't tried because the Democrats blocked them.
And among those Republican ideas is drilling for more American oil. Unfortunately, the current Republican nominee for president falls in line with Democrats on making sure the United States continues to be a buyer, and not a seller, in the vast global oil market. The longer we keep our oil reserves out of bounds, the higher gas prices will go.
It's time to brace ourselves for the new reality: $4-a-gallon gas is the floor — the good times. My children will laugh at how I bought gas for $.99 a gallon in the mid-1990s as they walk to school because the city can't afford to bus them.
Posted by Dr. Zaius at June 7, 2008 01:03 AM | TrackBackPersonally, I think this IS the one crisis that really matters the most at this time and probably moving down the road. I threatens to become much more than a mere crisis, and soon. I am tired of watching American politicians and International 'interests' hold America hostage. It has been the most disgraceful thing I have ever witnessed in my life.
Thanks Jim!
I referenced this fine blog over at redblue ... in fact I essentially ganked it with attributions of course.
Posted by: john b at June 7, 2008 10:54 AMAnd it is only going to get worse, with the majority of Americans ready to jump off the cliff and hand the white house to the Barack messiah(pbuh) and give the Dhimmi's a filibuster proof majority in the senate it will get much much worse. Recall Chuckie Schumer and other Dhimmi politicians were saying they hoped gas prices would go above 3 to 5 dollars a gallon a few years ago and then proceeded to ensure their dreams would come true.
Posted by: Oldcrow at June 8, 2008 09:31 AMI'm sure starting a war in the middle east didn't affect oil prices in the slightest.
(complete article)
Posted by: Monkey RobbL at June 8, 2008 02:19 PMI knew the game was really on when I heard Hugo's comments after returning from meetings in Iran and Syria last fall.
Posted by: john b at June 8, 2008 02:36 PMSure, Monkey RobbL ... 1+1=2, you wish. You still seem to believe there is a difference between the empty suits that keep getting foisted on the American people and anti-constitution crowd that selects the presidents and congressional traitors for America. Take a look at big wannabe and highly touted (anti-NAFTA) liar Obama insider :
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=55830
I bet his camp is crawling with such vermin; just itching for that CHANGE THAT IS COMING TO AMERICA. You can't try to slice and dice these power mongers between party lines and the little tools they employ (like Iraq War) to take the next steps in their cherished goals.
Posted by: john b at June 9, 2008 09:17 AMSince the start of the Iraq War falls about half-way up the spike in crude prices on that chart, Robb, I'd say starting a war in the Middle East didn't have the effect you think it had.
Besides, the war in most respects is over, and Iraq is stabilizing and increasing crude production.
It's convenient, but not accurate, to pin record crude prices on the war. Increased demand in the developing world -- along with speculators betting that demand will keep increasing -- has probably had the most effect.
Posted by: Dr. Zaius at June 9, 2008 10:42 AMZaius: Don't forget the weakening of the dollar.
Posted by: Ben at June 9, 2008 11:26 AMActually, 2003 (the start of the Iraq war) is at the bottom of the spike. The arrow pointing to the middle of the spike is just a label. Interesting, by the way, that from 2001-2003 there is only a modest increase, but from the point we invaded Iraq, it increases dramatically and keeps going up.
Also interesting is the fact that both of the major oil price spikes coincided with war in Iraq. Of course, we had absolutely NOTHING to do with the Iran-Iraq war and the events leading up to it. Those films of Rummy and Saddam chumming it up are clearly fakes.
And Ben's also right. As my main man Dr. Paul likes to point out, the price of oil in Euros hasn't increased nearly as much as the price in Dollars, and the cost of oil in gold has remained roughly flat. The war is a big factor here, as well, as pretty much the whole thing has been funded with borrowed money, since no other spending cuts or tax increases came along with the increased war spending. As I pointed out previously, the federal budget has increased by 50% on Bush's watch. Without a corresponding increase in revenue, that's just more debt weighing down the dollar like a millstone.
By the way, I do support increased domestic oil production. I also support re-starting our nuclear energy programs, along with reducing regulatory inhibitors to market-driven development of alternative fuel sources. But none of those things hold a candle to the impact of destabilizing the middle east and out-of-control spending.
Posted by: Monkey RobbL at June 9, 2008 05:04 PMThanks for pointing out when the spike began, after the invasion of Iraq. I didn't read it carefully enough. But is that chart adjusted for inflation? I know that won't have much effect on the latest spike, but it should put the other spikes into better perspective.
And if your chart is accurate, how to explain the precipitous drop in oil prices when we first invaded Iraq in the Gulf War? If I recall, people predicted the price of oil would skyrocket then, too. But, obviously, that's one Iraq war that had the opposite effect.
And, you said this:
Of course, we had absolutely NOTHING to do with the Iran-Iraq war and the events leading up to it.
Please don't tell me you're saying Saddam would not have invaded Iran if not for us.
Posted by: Dr. Zaius at June 10, 2008 10:31 AMI'm saying that:
1. The United States deposed the democratically elected Prime Minister of Iran in 1951, giving rise to the Shahs.
2. The U.S. supported the Shahs despite their use of secret police to crush political dissent, giving rise to the Ayatollahs and Islamic Fundamentalism in Iran.
3. The Islamic revolution led directly to the hostage crisis, friction with the U.S., dismantling of the Iranian military.
4. The destabilized Iranian defenses were a significant incentive for Hussein to attack Iran when he did.
5. Hussein himself might not have been in power had the U.S. Government not helped his party seize power in 1963.
So yeah, I'm saying there's a good chance that if the U.S. hadn't been meddling in the region for the 20 years prior to the Iraq invasion of Iran, that Saddam would not have invaded Iran when he did.
To answer your first question, the chart is in 2007 dollars, so I assume that means it's adjusted for inflation and all other affects on the dollar.
There is a modest spike during the standoff and hostilities of Gulf War I. The drop in prices follows the conclusion of that very brief and one-sided war, which I presume brought a perception of stability throughout the oil producing nations of the middle east. The government of Iraq was still the same and still solidly under Hussein's control, but he had been "put in his place" and the region appeared stable for a few years.
The point being, it is disingenuous to lay the "blame" for our oil crisis at the feet of recent Congressional Democrats who voted against drilling when, in fact, the crisis exists because every U.S. President since at least Eisenhower has had a policy of ham-fisted intervention in the middle east, and Congress has for the most part willingly played along.
Shorter version: You can make statistics say whatever you want, depending on what information you omit.
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