In My Opinion: The True Oil Reserve Clause

Dear Readers:

"SCHUMER CALLS ON STATE DEPT AND WORLD LEADERS TO PRESSURE SAUDIS TO PROMISE TO MAKE UP FOR LOSSES IN IRAN’S OIL PRODUCTION: (http://ltpbazzo.com/2012/02/27/schumer-calls-on-state-dept-and-world-leaders-to-pressure-saudis-to-promise-to-make-up-for-losses-in-irans-oil-production/)

This is the headline on a press release from the office of Senator Schumer (complete text on "Bazzo At Work" 02/27/12) as his answer to the unrest in the Middle East and it's affect on oil supplies. Let us turn to and pressure a country that at times has not had our interests at heart. Why not call for the opening of the Keystone XL pipeline that would get us petroleum form a friendly country. At least if one is to call for more dependence on foreign supplies it is not better to depend on a friendly nation not affected by Iranian threats? Usually he calls for the opening of our Strategic Oil Reserves. This time it is not that simple. Just wait, being a politician of habit, this press release should be coming soon.

"We're making new investments in the development of gasoline and diesel and jet fuel that's actually made from a plant-like substance, algae" This was said by President Obama in a speech recently at Coral Gables. This is his answer to the rising prices. He has also recently said some other interesting things regarding the surging petroleum prices. He has opined that gasoline prices are beyond his control. Oil and gas production is rising in America. These higher prices are why we must raise taxes on oil and gas drillers.

The last point first. Raising taxes, by removing subsides on exploration and depreciation does nothing to lower prices. In fact quite the opposite happens. The increase costs are born by thee consumer on even higher prices. To believe otherwise make one an economic fool. However one must remember that higher prices is exactly what this President wants. You will recall that when he took office gas was $1.85 per gallon. His Department of Interior's first move in the first months was to cancel all of the new leases on public land granted by the Bush Administration and to put back into affect the environmental regulations that the Bush Administration felt hindered exploration. Since then and for most of the last three years gas has stayed over $3.00 per gallon and rose to over $4.00 twice. This puts the lie to his second point about prices being beyond his control.

By hindering the free flow of petroleum prices must rise as the market shows. The artificially created unease is what makes the speculators drive up the prices. They are only reacting to the policies of this administration. You can not get mad at a snake for doing what a snake does.

Finally gas production is up on private land like the fields in North Dakota. The leases this administration is trying to take credit for were granted by both Bush and Clinton Administrations. That's how far back they go and how long it takes to navigate government bureaucracy.

He say we only have 2% of proven world oil preserves. Not true. First you must know that reserves are controlled by securities law, not geology. Oil isn't counted as part of our reserves unless it's legal to extract it. By enacting regulations making it illegal to extract it, these reserves are not counted. Simply put the 2% of what we got is by government regulation what we legally can get. The reality as I have pointed out before is that this Administration, this Interior Department, this Environmental Department by regulation, law and fiat is at economic war with it's citizens. We must change this administration. This is my opinion. you may beg to differ.

Anthony J. Bazzo

The opinions expressed by freelance contributors to PennySaver Community do not necessarily reflect those of PennySaver Community or its parent Chase Media Group.

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ATOM TAXI INC. AIRPORT SERVICE:
Dear Readers:
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SITES TO LINK TO:

 

 BAZZO’S BLOGS:

BAZZO AT WORK: A Bazzo Blog:
http://ltpbazzo.wordpress.com/

PENNYSAVER COMMUNITY (Town of Poughkeepsie):
http://psctpok.wordpress.com/

BAZZOMANIFESTO:
http://bazzman.blogspot.com/

 

OTHER SITES OF INTEREST:

 

LOCAL NETWORK NEWS (Dutchess County):
http://lnnnow.com/index1.htm

 

HUSON VALLEY PATRIOTS:
http://hudsonvalleypatriots.com/

 

ellabellahairclippies: www.ellabellahairclippies.com http://ellabellahairclippies.blogspot.com
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JOHN G. TESTA: www.johngtesta.com
ON TOPIC W/ JOHN TESTA: www.ontopicwithjt.com
CARS & US: www.doverracing.com
THE WINERY AT ST. GEORGE: http://www.TheWineryAtStGeorge.com
PLAN PUTNAM: planputnam@googlegroups.com/
BRUCE APAR’S NCN BLOG: http://ncnlocal.com/index.php/blogs/bruce-the-blog
NORTH COUNTY NEWS: http://ncnlocal.com/
THE JOURNAL NEWS: http://www.lohud.com/
YORKTOWN WATCHDOG: www.yorktownopengov.org
PADAVANO FINE ARTS: Padovanofineart.com/
PEEKSKILL BID: www.peekskillbid.com or www.downtownpeekskill.com
Peekskill Democratic City Committee Blog: http://www.peekskilldems.com/blog *********************************************************************************
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Bazzo 02/27/12