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Sunday, November 09, 2008

Bush Screwed Whoever Won the Presidency


Thankfully, the election process is over and America and all Americans can focus on the issues that we have to face. Miraculously, the spike in oil prices is disappearing with the Bush administration exit and who would of thought that possible. I did and said so at the point in time when oil hit a record price of $147 per barrel. The raping of America would end with the support of the White House and the exit of George Bush. Now is the time to get back to the basics of our economy not strangled by the price of oil and gas. It does not take a rocket scientist to know that the American economy runs on the price of oil. Any corporation that manufactures plastics has been blown out of the water by the price of oil based plastics and the materials needed to produce a product.

This nation has been held hostage by corporations and the stock market and now that they have fed the rest of us in the middle and lower classes to the dogs we have to bail out one another. Some may call President Elect Barack Obama a talking points only 44th President but he is still going to be the one in charge of getting America back on track. In that respect, he is taking advice from all corners and you have to admire that when it comes to talking about the economy. I’m not talking about Joe the Plumber that isn’t really a plumber but a country music wannabe that found a microphone and propelled himself into the McCain campaign for President as an expert on the economy. Warren Buffet, Paul Volker and the list goes on. Any voice is appreciated before January 20th when President Obama has to make a choice and act accordingly to save what the past eight years sought to destroy.

It is kind of ironic that Toyota is talking about a $5 Billion dollar profit and yet GM and Ford are begging the government for bailouts? GM and Ford are supposedly going to run out of money just before Barack Obama takes the oath of office for President? Isn’t that convenient timing when President Elect Obama has told the world that if President Bush does not work on a stimulus package then President Obama will do so as soon as he takes the oath of office. I'm wondering what GM and Ford did every single time they screwed up an lost billions of dollars in the past? Did the executives at GM and Ford not have a financial team looking at the bottom line or are they just putting their hands out for a freebie? Umm, the wolf is crying wolf afraid of little Red Riding Hood here and the accountants will be the ones going to jail for it. Set the sails, the million dollar parachutes are about to take off at GM and Ford with the exit of President Bush too! It gets better, it is all you greedy workers fault for demanding a decent living wage. You bastards should be whipped into voting Republican. How can you not see that Million $Dollar bonuses are good for the company? Fire the workers and give the executives another multi million $dollar bonus for cutting costs!

Don’t tell anyone this but I think President Bush was in the pocket for the big auto makers in Detroit too. While oil prices skyrocketed, President Bush played a deaf ear on fleet fuel and MPG. Bush pretty much gave GM and Ford a pass on CAFÉ standards. GM and Ford executives had no problem with taking tens of millions in bonuses as the mega vehicles rolled off the production lines? Did Bush lie to them too? Did he sell them out as well? Nobody sold out GM and Ford other than the top executives that thought they had the golden goose and George Bush made sure they could cash their checks.

It’s pretty obvious to me that President Bush has screwed over whoever his successor was going to be. If John McCain won the White House this would be the second bitch slap from George W. Bush. Dick Nixon had nothing on this Bush! Jerry Ford had to pardon Nixon in order to get the country back on track if you really think about it. Enough was enough, we needed to move on. I don’t think George Bush should get that same treatment after he leaves office as President.

President George W. Bush sold this country out and the people that made the Reagan and Clinton economic engine work. When it came to the price of oil there was not one single thing that he did during his entire Presidency that inhibited it from going higher. Not ONE! Not even once did he tap the SPR (Strategic Petroleum Reserve) even when we faced the worst Hurricane in during his administration and refineries were wiped out. He encouraged Detroit to go bigger and more costly at the pump, his administration ran shot gun over every single investigation as to market manipulation in the oil markets and with the help of Tom Delay and friends squashed them all. He moved our country into a war in the Middle East that manipulates the markets into scare tactic investing. Afghanistan was justified but going into Iraq was worthy of burning anyone for the sake of getting America and its economy focused on oil. Friends of Bush and company were richly rewarded and many vacated the headquarters out of the United States to escape future prosecution. How many contracts can you award to “NO BID” contractors to the Vice President that was the former CEO of the company before you smell a rat?

Getting back to the original point of this article, Barack Obama has a deck of cards in front of him that somebody just played 52 pick up with. John McCain would have had the same cards to deal with. John McCain and his political party should be happy that they do not have to deal with this crisis. The election was close when you really look at the state by state numbers. I have no clue as to how President Elect Obama is going to pull this rabbit out of his hat but he is surrounding himself with people that I have the confidence in knowing that sometimes you have to listen first before shooting your six guns.

President Bush screwed over unilaterally whoever was going to take his place. Most of all he screwed over America and Americans. That fits with how Bush served as President the last eight years. There was not one special interest group linked to Big Oil that he did not have a kind ear for. At least he was consistent. Getting past that as we should we are all left with W’s mess to clean up and pay for even though we have paid for it ten fold over the last eight years. Mission Accomplished in his mind is clean up on aisle three in our pocket books.

Papamoka

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Thursday, April 24, 2008

Strategic Petroleum Reserve Politics


Deep in the south of America are huge stock piles of oil that our government has been pumping into enormous salt caverns since the days of Jimmy Carter. The oil that is pumped in is bought on the open market and kept in reserve for a reason. In times of national and world distress the American economy can not afford a blip in supply if the nations supplying that oil can not do so.

When it comes to tapping the Strategic Petroleum Reserve (SPR) it is at the behest of the President. Something that the current occupant of the White House has failed to do with the run up of commodity pricing on the open markets for his own personal reasons that are known only to him. Some people would say that he has a grudge against American’s simply because he is not popular by even the closest margin of percentage points in the middle and lower classes. Thus he has not tapped the SPR to help American’s where it hurts, not just its people but its businesses that rely on all oil based products.

In to save the day (in her own mind) is House Speaker, Nancy Pelosi. Her idea of a temporary fix to save American consumers five cents plus at the pump is to stop filling the SPR and this is what Reuters has to say about it…

House speaker asks Bush to stop stockpiling oil
By Richard Cowan


WASHINGTON (Reuters) - The Speaker of the House of Representatives on Thursday called on the White House to temporarily stop sending crude oil into the nation's emergency stockpile.

House Speaker Nancy Pelosi told reporters she was calling on President George W. Bush to work with Democrats to find a way to "temporarily suspend" oil deliveries to the Strategic Petroleum Reserve.

The White House immediately rejected the plea. "We don't believe the fill rates have a meaningful impact on oil supplies," White House spokesman Scott Stanzel said.
"We continue to fill the reserve to provide an added layer of protection to the American people in cases of severe supply disruption."

Pelosi said suspending deliveries would save drivers 5 cents to 24 cents per gallon at the pump.

As U.S. benchmark crude oil prices hit a record near $120 a barrel this week, the Bush administration insists that filling the reserve accounts for less than one-tenth of 1 percent of daily supply, and has no meaningful effect on prices.

The nearly 701 million barrels of crude oil stored in underground salt caverns in Louisiana and Texas are meant as a supply buffer in case of major supply disruptions like the 2005 hurricanes that hit the Gulf Coast oil patch. It was created by Congress in 1975 after the Arab oil embargo.

Current shipments come to about 70,000 barrels per day, while the United States uses about 21 million bpd.
- Reuters

Stopping the filling of the SPR is a very bad idea that will never save a penny at the pump for consumers. The price on the open market for oil will continue to rise simply because the investment potential on the commodity market is driving billions of new money every single day into it. Kiss the nickel or quarter savings away within one weeks time. Supply is not the problem! Market manipulation is driving the price higher and higher and that will not end till the government really thinks about it.

Nancy Pelosi should have the guts to stand up and demand an investigation into the top thirty commodity brokers and open up their books under a federal investigation. What is that old saying about following the money? Does she have the guts to do it and follow it up with a knock out punch? I don’t think so. Neither does Byron Dorgan of North Dakota.

Do you personally believe that the average American family in the middle and lower class has the billions of dollars that is flooding the markets to drive the price up? Where might that kind of free cash flow come from? Anyone other than me thinking that the oil companies with record profits in the tens of billions of dollars per quarter might want to make sure those CEO bonuses continue for the long term? What are these companies doing with all that cash while you forgo the better cuts of meat at the market? What are they doing with all that cash when you have to tell your kids that you have to cancel their after school program because the gas to get them back and forth to practice and games is just killing the family budget? What are they doing with all that cash when a tank full of gas is now approaching a days pay for someone at minimum wage?

Wait this story only gets better. How do you defend the future needs of your nations energy needs? You make it impossible for the SPR to ever pump another barrel of oil. Same article from Reuters…

Democrats in the Senate are also pursuing legislation that would require the Energy Department to suspend shipments to the reserve if prices are too high.

Democratic Senator Byron Dorgan of North Dakota said he would seek to attach an amendment to an upcoming supplemental appropriations bill that would forbid the government from sending oil to the SPR if oil prices are above $75 a barrel.

"I believe I have the votes," Dorgan told reporters. "I think I'm going to be able to get this dome." - Reuters


Why not just put a bullet in my kids energy backup future Senator Dorgan. Why not just tell the Saudi’s and all the other oil producing nations that we give up? You win, feel free to rape and pillage our open market society and have your way with us, our children, and our grandchildren.

The SPR is there for a damn good reason and if the market is out of control then President Bush is obligated to intervene during this energy crisis built up by Wall Street. America’s economy only works if the workers at the bottom of it can get to work and the price of gasoline is slowly making that possibility not probable. Releasing one to two million barrels a month from the SPR till the market calms sends a message that tells the market that this is not something you want to heavily invest in. Secondly, if the President initiated full investigations into the oil commodity market it might just stop the endless run up of what basically will kill this economy and its peoples way of life goodbye.

That will not happen so maybe Senator Obama, Senator Clinton and Senator McCain should pay close attention to this topic. After all one of them will be sitting in the White House come January of 09 and this topic just might come up.

Papamoka

Cross posted at MichaelLinnJones.com, Bring It ON! , and To the Center

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