Pelosi. Can I drill in to your heads?, page 1
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Topic started on 27-8-2008 @ 03:06 AM by jpm1602
My most unfavorite politician got into a heated exchange with hecklers today regarding off shore drilling. Our favorite executive branch softie who has lowered the hammer on no possible impeachment apparently felt her oats tonite.












August 26, 2008
Categories: Bad behavior

Pelosi to protesters: "Can we drill your brains?"

House Democratic leaders and protesters waving McCain signs had a war of words Tuesday at a press event outside an old train station. The demonstrators interrupted House Speaker Nancy Pelosi with chants of “Drill here! Drill now!”

Pelosi paused and asked the group, “Right here?”

Seeming to enjoy the back and forth, she followed with another question: “Can we drill your brains?”

She went on to refer to the protesters, who continued to chant sporadically, as “handmaidens of Big Oil.” Arguing that increased offshore drilling would reduce gas prices by only a couple of pennies a decade from now, she referred to the demonstrators as the “2-cents-in-10-years-crowd.”

Majority Leader Steny H. Hoyer swiped at the demonstrators, too, saying that “sophomoric chanting” won’t solve the energy crisis and that “all thinking Americans know” — stressing the word "thinking" and looking at the crowd — that America doesn’t have a quarter of the word’s fossil fuels yet uses a quarter of the world’s energy.



By Ryan Grim 02:24 PM
comments (911) | post comment | permalink



[edit on 8/27/2008 by jpm1602]

[edit on 8/27/2008 by jpm1602]


reply posted on 28-8-2008 @ 09:35 AM by nyk537
Existing thread on this topic here

I'd suggest moving the discussion there as that's probably what will happen soon regardless.

Doesn't seem to be much interest though.


reply posted on 1-9-2008 @ 06:02 PM by Shazam The Unbowed
Originally posted by Voxel


Not better. Saudi oil is simply much cheaper to extract. Being much cheaper, any increase in supply would have a larger effect on the price of oil around the world.

Well thats a novel argument. It is also fundamentally, completely, and unequivocally wrong. Oil is a Fungible product. That means that no matter where oil comes from, or how much it costs to extract, it costs the exact same amount. The amount it costs the Saudi's to extract the oil only matters to the Saudi's, noone else.
The global price of oil is determined by the global supply and demand, not the costs of extraction. For virtually every source of oil today, the cost of extraction is far below the global price. As an example oil shale costs about the equivalent of 70 dollars a barrel extract usable energy from, which is alomost double what it costs SA to drill, yet they are sold at the exact same per barrel price. There is NO difference as far as the global comoddities markets are concerned, between 100,000 barrels of SA oil, or 100,000 barrels of oil from anywhere else, so far as effecting the price of oil overall is concerned.


I hate using analogies but I really want a doughnut right now:
  • If you bought 1,000 doughnuts for $5,000 dollars then each doughnut cost $5.
  • If you added 500 doughnuts to your order at $4 per doughnut it would raise the amount to $7,000 or about $4.66 dollars per doughnut - a savings of only $0.34 per doughnut.
  • But if you found a vendor who was willing to sell you 500 doughnuts for $1 each then your total only comes to $5,500 or $3.66 per doughnut - you saved about $1.34 per doughnut this time.
  • Overall you lowered the cost by an extra $1 per doughnut by finding a cheaper seller.


Again, oil is fungible. Regardless of where it comes from, it all costs exactly the same.

Jon

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