mckmas8808
Mckmaster uses MasterCard to buy Slave drives
aronnov reborn said:
Around $100 Billion a year.
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PoliGAF 2011: Of Weiners, Boehners, Santorum, and Teabags
- Thread starter PantherLotus
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Around $100 Billion a year.
Invisible_Insane
Member
~123billion a year. It wouldn't so much be "saving" as it would "not borrowing," but it also bears considering that between protecting permanent installations in Afghanistan and rising costs for veteran care, we'd be fairly unlikely to reap much of a peace dividend.aronnov reborn said:
AlteredBeast
Fork 'em, Sparky!
PantherLotus said:
That picture reminds me of all the George W Bush chimpanzee pictures. Something about the slight turn in his head, the empty look in his eyes, and his ears being slightly pushed out. A la W.
Yeah...that's the one, second row all the way to the left.
Synth_floyd said:
Not just any rally. He said it in NY which is on the verge of legalizing same sex marriage and he STILL couldn't lend his support for unconditional equality for all citizens. What a weasel. He'll look absolutely awful if he loses and maintains this position till after his defeat.
Alteredbeast - the funny thing is a similar image with Obama would be bannable.
mckmas8808
Mckmaster uses MasterCard to buy Slave drives
Reserve Oil Sale Will Boost Economy
By Daniel J. Weiss, Christina C. DiPasquale, Valeri Vasquez | June 23, 2011
The Obama administrations decision to release 30 million barrels of oil from the full emergency Strategic Petroleum Reserve should provide an economic boost to the sagging American economy, and help relieve some pressure on American families too. Past SPR sales have reduced oil prices by 10 to 15 percent within a month, which would translate into savings of 25 to 35 cents per gallon at the pump. And every $10 per barrel drop in the oil price will add .1 to .2 percent to GDP. This oil sale should generate at least $2.5 billion for the federal treasury.
Based on the current United States consumption of 380 million gallons* of gasoline per day, lower oil prices could save Americans $95 million to $133 million per day at the pump while oil prices remain lower. This reduction will act like a tax cut for American families. In addition, reducing oil prices by 10 percent below the $95.41 closing price on June 22 would save $9.50 per barrel. This would reduce the amount of money shipped to other countries for oil by $100 million or more per day.
Previous SPR sales also led to swift price drops. A 30 million barrel SPR sale, ordered by President George W. Bush after Hurricane Katrina, was on the market in 17 days and prices dropped 12 percent in a month.
In 1996, 28 million barrels of oil from the SPR were used for deficit reduction sale as mandated by the budget agreement between President Bill Clinton and the Republican-led Congress. Three different sales generated $647 million, which would equal $908 million today. At the time, the SPR had an inventory of less than 600 million barrels, or less than 83 percent of capacity, while our reserves are at capacity right now. The first of these sales reduced oil prices by 10 percent over a few weeks.
The SPR oil sale must also be accompanied by a robust effort to ensure that the Commodities Future Trading Commission has the needed staff to enforce safeguards to prevent speculators from once again driving up oil prices later this year. Goldman Sachs estimated that speculators added $27 a barrel to the oil price at its 2011 peaka one-fourth price hike. Unfortunately, the House FY 2012 Agriculture Appropriations bill would cut CFTC funding by 44 percent, which would remove the cops who patrol the oil markets to prevent speculators from driving up prices to make a quick buck.
On February 2, CAP proposed selling 30 million barrels of SPR oil as part of a remedy to oil prices that had risen by $5 per barrel in a week in response to unrest in the Persian Gulf. In The False Promise of Drill, Baby, Drill, we proposed that in addition to selling oil from the Strategic Petroleum Reserve, using some of the proceeds from the sale to pay for public transportation trips would encourage people to drive less and also reduce prices in the short-term.
This fall, the Obama administration can continue helping families save significantly more money while reducing our oil dependence by requiring that cars built in 2025 achieve a fuel economy standard of 60-plus miles per gallon. This would save the average driver $7,500 over the life of the vehicle. Investments in electric cars and natural gas trucks can also reduce oil use and save families money.
Congressional Republicans lost no time voicing opposition to the SPR oil sale despite their general fondness for tax cuts. House Natural Resources Committee Chairman Doc Hastings (R-WA) protested that The Strategic Petroleum Reserve is intended for situations when theres a dramatic supply shut down, not to achieve short-term political gain. Interestingly, Hastings voted forthe Omnibus Fiscal Appropriations for 1996, H.R. 3019, which included a provision to sell SPR oil for deficit reduction although there was no supply disruption at the time. House Energy Committee Chair Fred Upton (R-MI) also criticized the sale, and also voted in 1996 to sell SPR oil for deficit reduction.
Selling SPR oil will save families money, reduce our budget and trade deficits, and boost the economy. Selling this oil will reduce oil prices, however, and mean lower profits for big oil companies because they make more money with higher prices. Perhaps Republican leaders oppose selling this reserve oil because their political benefactors will see their huge profits sink. This is another case of oil above all, rather than supporting whats best for middle- and low-income families.
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I know this was a yesterday event and we already talked about it, but I thought it would be good to show the facts of the matter when previous presidents have done this in the past.
And it's never bad to add another chart to PoliGaf.
By Daniel J. Weiss, Christina C. DiPasquale, Valeri Vasquez | June 23, 2011
The Obama administrations decision to release 30 million barrels of oil from the full emergency Strategic Petroleum Reserve should provide an economic boost to the sagging American economy, and help relieve some pressure on American families too. Past SPR sales have reduced oil prices by 10 to 15 percent within a month, which would translate into savings of 25 to 35 cents per gallon at the pump. And every $10 per barrel drop in the oil price will add .1 to .2 percent to GDP. This oil sale should generate at least $2.5 billion for the federal treasury.
Based on the current United States consumption of 380 million gallons* of gasoline per day, lower oil prices could save Americans $95 million to $133 million per day at the pump while oil prices remain lower. This reduction will act like a tax cut for American families. In addition, reducing oil prices by 10 percent below the $95.41 closing price on June 22 would save $9.50 per barrel. This would reduce the amount of money shipped to other countries for oil by $100 million or more per day.
Previous SPR sales also led to swift price drops. A 30 million barrel SPR sale, ordered by President George W. Bush after Hurricane Katrina, was on the market in 17 days and prices dropped 12 percent in a month.
In 1996, 28 million barrels of oil from the SPR were used for deficit reduction sale
The SPR oil sale must also be accompanied by a robust effort to ensure that the Commodities Future Trading Commission has the needed staff to enforce safeguards to prevent speculators from once again driving up oil prices later this year. Goldman Sachs estimated that speculators added $27 a barrel to the oil price at its 2011 peaka one-fourth price hike. Unfortunately, the House FY 2012 Agriculture Appropriations bill would cut CFTC funding by 44 percent, which would remove the cops who patrol the oil markets to prevent speculators from driving up prices to make a quick buck.
On February 2, CAP proposed selling 30 million barrels of SPR oil as part of a remedy to oil prices that had risen by $5 per barrel in a week in response to unrest in the Persian Gulf. In The False Promise of Drill, Baby, Drill, we proposed that in addition to selling oil from the Strategic Petroleum Reserve, using some of the proceeds from the sale to pay for public transportation trips would encourage people to drive less and also reduce prices in the short-term.
This fall, the Obama administration can continue helping families save significantly more money while reducing our oil dependence by requiring that cars built in 2025 achieve a fuel economy standard of 60-plus miles per gallon. This would save the average driver $7,500 over the life of the vehicle. Investments in electric cars and natural gas trucks can also reduce oil use and save families money.
Congressional Republicans lost no time voicing opposition to the SPR oil sale despite their general fondness for tax cuts. House Natural Resources Committee Chairman Doc Hastings (R-WA) protested that The Strategic Petroleum Reserve is intended for situations when theres a dramatic supply shut down, not to achieve short-term political gain. Interestingly, Hastings voted forthe Omnibus Fiscal Appropriations for 1996, H.R. 3019, which included a provision to sell SPR oil for deficit reduction although there was no supply disruption at the time. House Energy Committee Chair Fred Upton (R-MI) also criticized the sale, and also voted in 1996 to sell SPR oil for deficit reduction.
Selling SPR oil will save families money, reduce our budget and trade deficits, and boost the economy. Selling this oil will reduce oil prices, however, and mean lower profits for big oil companies because they make more money with higher prices. Perhaps Republican leaders oppose selling this reserve oil because their political benefactors will see their huge profits sink. This is another case of oil above all, rather than supporting whats best for middle- and low-income families.
###################
I know this was a yesterday event and we already talked about it, but I thought it would be good to show the facts of the matter when previous presidents have done this in the past.
And it's never bad to add another chart to PoliGaf.
AlteredBeast
Fork 'em, Sparky!
If the SPR is at 100% capacity anyway, why not release some? This should be a no-brainer.
RustyNails
Member
SPR is usually tapped in cases of complete disruption in oil supply such as Katrina hurricane destroying everything in its wake. Big Oil and Republicans are saying that we are tapping SPR as a political move, because there is no disruption in oil supply at all.AlteredBeast said:
Whatever makes Big Oil unhappy, I'm for it. The SPR move made shares of Exxon Mobil fell off a cliff and cost them $10 billion in shares value in just one day alone. To me it looks like a payback for their oil subsidies bargain.
mckmas8808
Mckmaster uses MasterCard to buy Slave drives
RustyNails said:
$10 Billion in one day? WOW!
AlteredBeast
Fork 'em, Sparky!
I am for the SPR release if it truly drives prices down and ruins all these speculator bastards. Honestly, gasoline prices are all over the place. The funny thing is, gas was already dropping fairly quickly over the last month. Anything to make it cheaper and keep all the oil companies in check, I am for.
Loudninja said:
The majority of Black people will never vote for a Republican. Republicans screwed that pooch when they pitched their tent with racists, confederates, and tea baggers
Its also pretty tough to get the black vote when you openly hate on Islam. 20% of American Muslims are black.
speculawyer
Member
If he loses then he will lose to someone that is far more hostile to gay rights. So if you are trying to imply that position helped lead to his defeat your are utterly illogical. (As you generally are on this issue.)Gaborn said:
speculawyer said:
I'm not saying that. I'm saying that he'd forever be remembered as being on the wrong side of history. Our first black President would be remembered as being on the side of bigotry. History won't care that Clinton reversed himself on DOMA and DADT. History will remember that he signed those policies into law.
mckmas8808
Mckmaster uses MasterCard to buy Slave drives
Measley said:
Yep it's just that simple. Ending DADT means zero too.
reilo said:
No, I voted for Barr because he ran as a Libertarian. Let's say that Clinton was eligible for another term, but this time he ran as pro gay marriage and in repealing DOMA. Should gays support him on that issue? Yeah, they should. It doesn't change his policies in his previous terms, it doesn't ERASE what he did, but the candidate's position being different changes your motivation for voting for them. As long as Obama maintains his position during the election that is what he will be remembered for, if he comes out afterwards having lost and suddenly reverses himself it doesn't matter.
Ether_Snake
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Funny that the US government is now trying to fight inflation, this time by lowering the price of oil.
I'm starting to think they're running out of cards.
Like I said before, prices NEED to go down massively for the economy to pick up. Energy expenditures and housing-related expenditures must go down significantly so people have money to spend in the actual economy, not in two different vacuums.
Right now they're trying to cut all benefits left and right to make the US more competitive with China and other cheap countries. But this is self-destruction.
None of this can last, so what's next?
I'm starting to think they're running out of cards.
Like I said before, prices NEED to go down massively for the economy to pick up. Energy expenditures and housing-related expenditures must go down significantly so people have money to spend in the actual economy, not in two different vacuums.
Right now they're trying to cut all benefits left and right to make the US more competitive with China and other cheap countries. But this is self-destruction.
None of this can last, so what's next?
Sure, I'll agree to that, but I'm just taking this:Gaborn said:
And taking it literally. You are on the wrong side of history in regards to gay rights by having voted for Bob Barr. You can explain it away any which way you want, but you still voted for a guy that took away your rights based on his own bigotry.
reilo said:
I didn't vote for Barr when he created DADT, and I wouldn't have done so if he had not publicly reversed himself. Similarly, if Clinton was eligible for another term I would not criticize him for now having reversed himself when he's politically historically irrelevant. Does it erase Barr's past? Hell no. But I'm voting for a candidate for the LP who supports the repeal of DOMA. I'm not voting for a candidate that supports DOMA.
RustyNails
Member
Cyan said:
That implies that I vote republican. I vote Libertarian with the exception of voting for Ron Paul in the primary in 2008. I will vote for Ron Paul or Gary Johnson in the primary this time as well, and if either wins the nomination. Other than that I'm 99% sure that I will vote straight LP.
Manmademan
Member
mckmas8808 said:
This doesn't really mean anything for exxon's bottom line though. Speculators and investors will feel that pain.
RustyNails
Member
Will you vote for Obama in general election?Gaborn said:
RustyNails said:
I have been on record that I will vote for Obama in only one circumstance, if he confirms the existence of extra terrestrial life (because that would be beyond amazing). I would also strongly consider it if he freed all non-violent drug offenders in federal prisons because ending the drug war is that significant. Other than that I'm voting either LP, Ron Paul, or Gary Johnson.
TacticalFox88
Banned
I highly doubt even he knows. Plausible Deniability and shit.Gaborn said:
Kosmo said:
I agree Obama's being a coward with gay marriage, but I do find it hilarious how high and mighty you're being about this considering all the open bigots in the Republican party you vote for. Gaborn gets a complete pass because he votes Libertarian. I doubt you do.
speculawyer
Member
Ether_Snake said:
We ran out of cards 2 years ago. The situation is a mess and there is not much anyone can do. The best we can hope for is some magical technical innovation to become a hot new item that will drive spending and investment. Nuclear fusion, some biotech breakthrough, a hot new tech item, etc.
But mostly we are stuck in a slog with ever-increasing energy prices, an aging population, and nothing new to get people excited to buy & invest. The economy must painfully change to adapt to expensive oil and continued cheap-foreign labor competition.
We are largely just screwed but hope for the magic silver bullet is eternal.
speculawyer
Member
WTF? Are you suggesting Area 51 conspiracy theories? Or you would vote for him if he just happens to be lucky enough to be in office when SETI detects something? (I don't think SETI gets ANY government funding these days.)Gaborn said:
speculawyer
Member
Kosmo said:
Where is the dishonesty? Are you just assuming he supports gay marriage and thus is being dishonest?
Even if that is true, he isn't being all that dishonest right now. He doesn't say he is AGAINST gay marriage. (Like nearly the entire GOP presidential line-up where they nearly all said they supported a Federal constitutional amendment banning gay marriage.) Obama just doesn't say he is for it. And he uses vague statements like "my views are evolving".
speculawyer
Member
You need to explain that more. Do you want this person to just say "I confirm extra terrestrial Life exists" even if they have no scientific proof of it?Gaborn said:
If so then you should be voting for Kucinich! ;-)
Ether_Snake
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Gaborn said:
Why would a president confirming alien life get your vote? It's not like he decides if we discover alien life or not. If you think the US is hiding proof of alien life, LOL.
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