There are many who refused to believe that an administration filled with former/recent energy industry executives would tip the scales in the
industry's favor. They scapegoated everything but them throughout the Californian brown outs, even though profits went through the roof. They still
say that there was no manipulation.
Now, we have historic highs being hit at the pump going into vacation season. And just as Bush came out & gave Rumsfield "his heartfelt thanks for a
super job" after the released information on the prison torture scandal, he now comes to table to say that it's Congress who must pass his "energy
bill" so that gas prices can be remedied.
If you haven't learned yet, when this
president says " I won't play politics with this", it means that
severe partisan politics &
special interests serving is about to be served up!!
Here’s what I mean:
As prices at the pump have soared, so have profits at California's top five oil companies, according to a study by a Los Angeles consumer group. The
study by the Foundation for Taxpayer and Consumer Rights (FTCR) compared oil company profit reports and gasoline prices over the last two years. The
five companies included in the study -- Shell, ConocoPhillips, ExxonMobil, Chevron Texaco and BP -- refine 90 percent of California's gasoline,
controlling the majority of its gas stations, the group said. The group found that in 2003, an average 35 percent increase in gas prices pumped up
average company profits nearly tenfold -
by 926 percent.
Simultaneous to the release of this information, Bush said on Wednesday he would not release strategic oil stocks to curb record gasoline prices while
he was waging war on
[of] terror and accused Democrats of playing politics on energy.
"The idea of emptying the Strategic Petroleum Reserve ... would put America in a dangerous position in the war on terror," Bush told reporters
after a after a Cabinet meeting.
That just doesn't’t seem logical: Supply & Demand dictate the price in any market. Bush has given OPEC
stellar business by growing the Strategic
Oil Reserve to it's current record state of 660 Million Barrels. He's already given them a
open ended invoice by saying he wants that at
700 Billion Barrels by early next year. Think about that for a second: you're a manager trying to leverage a vendor on a better price - do you
guarantee them business or do you hold out the cash flow until a decent price is worked out? In other words, suppliers can manipulate supply, but
"demanders" can manipulate demand.....why is that not being done?
We, as Kerry has said, can divert millions of barrels from going into the SOR and put that into the marketplace. We won't "endanger" ourselves -
particularly, should cataclysmic events occur, we have Iraqi production to be emphasized for our consumption if need be.
So ask yourself, particularly with OPEC announcing a production reduction: Is this administration negotiating in our best interests?
On that energy bill: Drilling in ANWAR won't have any significant amount of oil reaching US consumers for
10 years , as quoted by oil industry
executives.
Bush also failed to mention that the Energy bill saw a bipartisan defeat - many Republicans saw it for the crap that it was and voted against it.