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Thread: Oil rises above $90 amid US crude supply drop

  1. #1401
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    Re: Oil rises above $90 amid US crude supply drop

    Foreign Oil Dependence Has Grown

    "In 1973, when President Richard Nixon said, “Our independence will depend on maintaining and achieving self-sufficiency in energy,” the United States imported 34.8 percent of its oil from foreign countries. In 1979, when President Jimmy Carter said the country will “never again use more foreign oil than we did in 1977,” imports were up to 45 percent of the nation’s oil supply. Dependence on foreign oil did indeed fall during a few economically troubled years when smaller, foreign-built cars gained popularity and American manufacturers reduced the weight of their vehicles. But that began to change when oil prices dropped in the mid-1980s, and by 1990, when President George H.W. Bush talked of the need to reverse “excessive dependence on foreign oil” at the dawn of the first Persian Gulf War, the United States was importing 42.2 percent of its oil. By the time his son ran for office, sport utility vehicles ruled the roads and 52.9 percent of the nation’s petroleum came from overseas. By 2006, when President Bush declared in his State of the Union that the nation was addicted to oil, foreign countries were delivering 59.9 percent of the fix. Geology has dealt the United States a bad hand if it hopes to achieve energy independence while continuing to rely heavily on oil. America’s old fields are tapped out; U.S. oil production has been in an inexorable decline since its peak in 1971. The government has pushed for the oil industry to squeeze out more domestic supply. Federal subsidies approved by Congress in 1995 encouraged a boom in oil drilling in the deep waters of the Gulf of Mexico. And the Bush administration’s Department of the Interior streamlined the process for drilling on federal lands, nearly doubling the number of permits approved each year. Nonetheless, U.S. oil production plummeted 22 percent over the past 10 years to about the same level that the nation’s oil fields were producing in 1947."
    Broken Government | Failure: Foreign Oil Dependence Has Grown
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  2. #1402
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by j-mac View Post
    I want to read exactly what Bill's explanation is, not Boehner's not some other, but his. And now yours. The failure to answer this simple question shows the weakness of your class warfare argument, and the disingenuousness of your argument. Now, would you like to answer the questions? or do I get more obfuscation?

    j-mac
    I suppose you would also like me to explain for you what the definition if IS is? You can't bully me into doing your homework for you, this isn't high school. Well, it isn't for me, it might be for you.
    As The Prof would say, GROW UP......
    Oracle of Utah
    Truth rings hollow in empty heads.

  3. #1403
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    Re: Oil rises above $90 amid US crude supply drop

    today:

    The average price of a gallon of regular gasoline continued its march to $4, hitting $3.96, the Energy Information Administration reported Monday afternoon. That’s 8 cents higher than last week and 86 cents higher than on Jan. 31.
    U.S. gas prices rise again - Dan Berman - POLITICO.com

    good news, greenies

    tell dr chu we're gettin there

  4. #1404
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by The Prof View Post
    Yes we know, gas prices have been rising for 40 years. Did you just notice it? I provided the explaination of why gas prices are rising here: http://www.debatepolitics.com/breaki...post1059456934
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  5. #1405
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    Re: Oil rises above $90 amid US crude supply drop


  6. #1406
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by The Prof View Post
    Ah fantastic

    Article from november 10th 2010

    Oh well

    It worried me...

    Does it worry you?

    Whos really running economic policy

    Obama

    Giethner

    Bernanke

    Dudley?

    Who does it help, probably the Goldman sachs

    Oh well

    We really have no power over this

    The elitist economic forces will do as they please

    Worry

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    Re: Oil rises above $90 amid US crude supply drop

    vote obama, 2012!

    the elitist economic forces will do as they please!

    The Federal Reserve, in a dramatic effort to rev up a "disappointingly slow" economic recovery, said it will buy $600 billion of U.S. government bonds over the next eight months to drive down interest rates and encourage more borrowing and growth.

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    Re: Oil rises above $90 amid US crude supply drop

    jan 11, 2011:

    Last November, as the economic recovery appeared to falter, the Fed said it would buy a new round of $600 billion in Treasury securities through June of this year. That's on top of the $1.7 trillion in Treasuries and mortgage-backed securities it had purchased in response to the financial crisis.

    Still, the pitfalls of the Fed's approach are almost as numerous as the lending facilities it undertook to stem the crisis. Perhaps most daunting, the Fed's purchases of Treasury debt and mortgage-backed securities have effectively turned it into a mammoth investor -- a thoroughly undiversified one.
    QE: Trillions of Dollars | Reuters
    Last edited by The Prof; 05-02-11 at 10:41 PM.

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    Re: Oil rises above $90 amid US crude supply drop

    lol, the odd thing is, i think is insane

    I didn't say vote Obama

    O well

    Maybe you don't know what you're talking about?

    Maybe you just post links and hope you sound smart...

    See this isnt "change"

    Bernanke is a smart guy

    Who's doing a really dumb thing

    It's like trying to save a sinking cruise ship with a bucket up...

    Print money

    Last resort of banana republics

    But its ok

    Obamas got it under control...

    Rght?

  10. #1410
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    Re: Oil rises above $90 amid US crude supply drop


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