OIL: It’s time for rage—good, old American rage......

[Warph]

WASHINGTON (CNN- July 14, 2008) -- President Bush lifted an executive order banning offshore oil drilling on Monday and urged Congress to follow suit.

Citing the high prices Americans are paying at the pump, Bush said from the White House Rose Garden that allowing offshore oil drilling is "one of the most important steps we can take" to reduce that burden.  However, the move is largely symbolic as there is also a federal law banning offshore drilling. "This means that the only thing standing between the American people and these vast oil reserves is action from the U.S. Congress," Bush said.

Bush has been pushing Congress to repeal the law passed in 1981.



"It's time for rage—good, old American rage aimed at those elitist Democrats who prefer to see the folks beggared by soaring fuel prices rather than take the action this very real economic crisis demands. Drill... A partial answer to our immediate problem is at hand. The steady increase in pump prices can be halted and prices somewhat rolled back to a more acceptable level. Yet those Democrats who the people elected to Congress are turning their backs on the voters who sent them to Washington and coldly refusing to lift a finger to help the American people, preferring instead to lay the blame for the problem on big oil, speculators and every place but where it belongs. On themselves. If that doesn't enrage you, nothing will. Payback time comes in November. Drive them out of office and elect people who will do what needs to be done. Drill, Drill, Drill! Are you listening, John McCain?" —Michael Reagan

[pam]

Y'all DO realize Georges daddy is the one who banned it in the first place don't you? Last I heard he was a republican..........

[frawin]

Pam, George H.W. did sign the ban which was also approved by both Houses, and at the time it was done oil was 10-12 dollars a barrel and the world was awash with oil, and China wasn't building 10million cars a year and India was not a factor in the world oil markets. At the time I think it was a good move and so did most of the rest of the people. In fact it was to George's credit that he did it.
Frank

[Diane Amberg]

But won't any new oil just follow the money too.? It sounds like emerging countries will stay ahead of the oil available, just like now.

[pam]

I know Frank, I was just takin a stab at the lets blame the democrats strain in warphs post. Think he's made that his pet project, baitin democrats that is lol. Gotta bite once in a while to keep him throwin those worms!

[frawin]

Pam, George H. W. was an oilman in Midland Texas, we lived there for 27 years and when I left Phillips to work with an independent company the owner of the company was good friends with Bush "SR" and Bush Sr was a well respected man in the oil patch, he went on to be a big partner with the Liedtke Brothers, and their venture ultimately ended up as Pennzoil which is now part of Chevron. My point is that Bush Sr. was very knowledgable in off shore drilling and production and I always felt like he done what he thought was best for his country and the future of America. I had the opportunity to meet and and have a few words with him and I felt I was in the presence of greatness of someone that I could really respect. I met George Jr. when I moved to Midland, he was in the oil business as well and I was somewhat involved in a deal between him and Phillips, young George and Laura always gave our kids donation for school projects and programs, Laura Bush is one of the finest ladies I know and her mother is well respected in Midland, enough said. Below is some information on George H.W. I thought you might find of interest.

In 1953, Bush got money from Brown Brothers Harriman and, with partners Hugh and Bill Liedtke, formed Zapata Petroleum. By the late 1950s they were millionaires. Bush bought subsidiary Zapata Off-Shore from his partners and went into business on his own in 1954. By 1958, the new company was drilling on the Cay Sal Bank in the Eastern Gulf of Mexico. These islands had been leased to Nixon supporter and CIA contractor Howard Hughes the previous year and were later used as a base for CIA raids on Cuba. The CIA was using companies like Zapata to stage and supply secret missions attacking Fidel Castro's Cuban government in advance of the Bay of Pigs invasion. The CIA's codename for that invasion was "Operation Zapata." In 1981, all Securities and Exchange Commission filings for Zapata Off-Shore between 1960 and 1966 were destroyed. In other words, the year Bush became vice president, important records detailing his years at his drilling company disappeared. In 1969, Zapata bought the United Fruit Company of Boston, another company with strong CIA connections.

[pam]

I always liked Barbara Bush, she came across as smart with a lot of common sense and down to earth. I'll be totally honest with you tho I think George is an arrogant little banty rooster who manipulates the facts to suit his purpose. But that's just what I think(shrugging) and it's not like they ALL don't do that lol

[frawin]

Diane, hopefully the new oil will be American oil and will help us replace or remove some dependence on foreign oil, I am not sure if it is still in place but during the embargo of 1973 US OIl could not be shipped to a foreign country, even when it was better if we did. That is another story, but I feel sure that US Produced oil will stay in the US.

[Catwoman]

I happened on a TV show that was talking about the oil that is pruduced from the sand in Canada...up to now, we've been the only purchaser of that oil...now, they're discussing building a pipeline to the west coast in order to export it.  Any opinions on how this will impact the price of oil here, Frank?

[frawin]

Catwoman, Canada  has become our number one supplier and is considered the safest source. One problem that exists the infrastrutue to get all Canadian crude avaiable down to the US. I would rather see our oil comapnies build a pipeline to bring all of the Canadian crude avaiable down to the US and get into the lines that can take it to Refineries in several areas. We should never let that crude leave the North American Continent. Catwoman that is one of those projects that our Oil and Gas industry could do that would take Billions and no return for years but they can and might well do it. That is one of the things we could have them do when we take their money for the windfall profits tax.
Frank