See I told ya so ! Democrats buckle, pass offshore drilling – Prices fall $55.00 a barrel

Washington Post

But as Democrats buckled under the political pressure for more drilling and began assembling the legislation, oil prices began falling.

The cost of a barrel of oil has dropped about $55, or about a third, from its peak this summer…

16 Community Comments, Facebook Comments

    • cologeek says:

      This bill has nothing to do with falling oil prices.  It also has nothing to do with energy independence.  It’s (very thin) cover for Democrats who were starting to feel the pressure from energy consumers.  

      It doesn’t allow drilling where the majority of off shore reserves lie.  It does nothing to promote nuclear power.  It won’t do anything to defray our dependence on foreign oil.  It just allows the Democrats to say “See, we passed an energy bill.”  

      • redstateblues says:

        for us living inland to say “drill the hell out of the coasts” because we don’t have to deal with the environmental impact.

        Why do you think they banned drilling in the first place? It wasn’t because wildlife was dying (even though it was.) It was because people living in coastal areas were being affected by the environmental impact of drilling. Property values went down, and people got upset.

        I think that if anyone is going to decide whether or not oil drilling should occur it should be the state who are actually going to be affected by the exploration.

        I’m not 100% against drilling, I just think that to blindly drill without any idea of the consequences (other than how it will affect our wallets) is utterly irresponsible.

        Not to mention the fact that they have no idea how much oil is even there.

  1. ClubTwitty says:

    prices have been dropping for a few weeks…

    Nice try, now open that book on elementary logic back up and try again.

    Here’s another question for you–as the price of a barrel of oil has dropped about 40% since its high, why haven’t prices at the pump followed suit?  They went up fast as oil rose, and come down a little, slowly.  

    Maybe you buy your oil by the barrel, I buy mine refined at the pump at the Conoco.  

    Lying Republicans is redundant.

  2. ClubTwitty says:

    Drill here, Drill Now, (Big Oil) Pay less…

  3. parsingreality says:

    Buckling under pressure.

  4. NEWSMAN says:

    This is a Washington Post Story.  Not some right wing blog.  

    • RedGreen says:

      but Stringer’s wholly out-of-context quote twists the meaning of the Washington Post story beyond recognition.

      Yesterday’s action came two months after the average price of gas peaked at more than $4.10 a gallon, prompting Republicans to make offshore drilling one of their central political planks as they headed into the party conventions and the fall elections. But as Democrats buckled under the political pressure for more drilling and began assembling the legislation, oil prices began falling. The cost of a barrel of oil has dropped about $55, or about a third, from its peak this summer.

      The unexpected boon of falling oil prices did little to change the tenor of the political debate yesterday. Pelosi brushed aside suggestions that lower prices would discourage more domestic drilling, in turn reducing the amount of money available for renewable resources.

      “I think once you go past $35 a barrel, there’s incentive for them to drill. It’s not just about the drilling revenues, it’s about ending the subsidies” and securing greater royalties, she said.

      In context, and contrary to Stringer’s cause-effect headline, the WaPo makes these points: Gas prices peaked; Republicans put on pressure to drill; Democrats buckled and added offshore drilling expansion to their energy proposals, which had been blocked by Bush and Republicans in Congress all summer; while the legislative wrangling was under way, the price of oil fell from its speculative high; this might have eased pressure to solve a 30-year-old problem in a matter of weeks, but didn’t; despite oil prices falling back to earth, Republicans kept the heat on because polling told them they’d found a winning issue; Democrats stuck to their guns, demanding any additional royalties gained by easing the ban be directed toward renewables. Now it’s on to the Senate.

      It’s a complex chain of events that has nothing to do with the ham-handed point Stringer tried to make. His use of a selective quote implying causation would be right at home on right-wing blogs.

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