More than 30 nations have sent troops to Iraq. That’s a coalition by any reasonable definition.

And your solution for Social Security is…

Along with all your other statements, your quote near the end is also messed up. It was Goebbels, not Hitler, who said:

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”

Bush Says Drill, Drill, Drill — and Oil Drops $9!

In a dramatic move Tuesday President Bush removed the executive-branch moratorium on offshore drilling. Today, at a news conference, Bush repeated his new position, and slammed the Democratic Congress for not removing the congressional moratorium on the Outer Continental Shelf and elsewhere. Crude-oil futures for August delivery plunged $9.26, or 6.3 percent, almost immediately as Bush was speaking, bringing the barrel price down to $136.

Now isn’t this interesting?

Democrats keep saying that it will take 10 years or longer to produce oil from the offshore areas. And they say that oil prices won’t decline for at least that long. And they, along with Obama, bash so-called oil speculators. And today we had a real-world example as to why they are wrong. All of them. Reid, Pelosi, Obama — all of them.

Traders took a look at a feisty and aggressive George Bush and started selling the market well before a single new drop of oil has been lifted. What does this tell us? Well, if Congress moves to seal the deal, oil prices will probably keep on falling. That’s the way traders work. They discount the future. Psychology and expectations can turn on a dime.

The congressional ban on offshore drilling expires September 30, so that becomes a key date. A new report from Wall Street research house Sanford C. Bernstein says that California actually could start producing new oil within one year if the moratorium were lifted. The California oil is under shallow water and already has been explored. Drilling platforms have been in place since before the moratorium. They’re talking about 10 billion barrels worth off the coast of California.

There’s also a “gang of 10” in the Senate, five Republicans and five Democrats, that is trying to work a compromise deal on lifting the moratorium. So it’s possible a lot of action on this front could occur much sooner than people seem to think.

Drill, drill, drill. Deregulate, decontrol, and unleash the American energy industry. Those hated traders will then keep selling oil as the laws of supply and demand and free markets keep working.

Bravo for Bush. Bravo for the traders.

ango

Have you been listening to the business reports? They have been reporting that there is a lot of concern that the economy is in trouble so oil futures are being dumped.

This was not a result of Bush dropping the ban on drilling. Even if it did and Bush always had this authority why did he wait this long if he was so sure this would work.

They might be over reacting but the oil is dropping because they believe that the economy is about to tank.

Lets not forget we have two bank failures, the one in California and Bear Stern, The worst inflation in 26 years (according to the government), and the worst drop in home values in more than a decade.

Bob, and all of the bad economic news has occured since the Donks took over Congress two years ago.

Email Mike Smith at mikesmith@post-dispatch.com and tell him:

Free Tipsheet!

Well Jim and Bob, how is fantasy land? As some of the other statements, drill drill, and drill again. Simple economics, which you don’t understand, is about supply and demand. Your total lack of the facts scares the hell out of me. Let me guess, perhaps windfall profits tax will bring us more oil?

Jim, please dont bore us with your lack of knowledge and lack of logic. It would be so helpful if you let the marketplace take care of itself. We started drilling again when Reagan was president and the Saudis and the rest of the Middle east decided to drop the price of oil. Supply and Demand again works but for some reason you socialist voters just dont get it.

Hooray to Bush for asking for drilling! Now the question is, how many of you liberals are going to stop us from drilling? If that is so, then how about you helping us pay for your pathetic liberal experiment.

Perhaps the Obamamessiah will have answers for you. Of course that depends on what day it is. He seems to say one thing to one crowd and then the complete opposite the next day to another crowd. The man is a complete joke and you guys want him. Oh, we are not McCain fans either but he is the best choice of 2 terrible choices. We can thank the Media for those 2 choices anyway!

Tango, I can not believe how incredibly blind you are. According to you all the good economic news over the past 8 years was because of Bush. All the bad new is a result of the democrats.

You never can conceive of an idea that Bush was build a pyramid scheme. In all such situations eventually it has to collapse. The housing mortgages that are fueling the economic troubles were taken out during the Bush Administration under normally 3 year adjustments. The mistake Bush made was not leaving office sooner so that he could sit on the sidelines and blame it all on his successor.

It is simple economics, but then I cannot expect you to understand anything beyond simple math.

superdave, You want simple economics. Oil speculators are dumping futures because they are seeing a slowing economy. We have had the sixth straight drop in usage, with a 5% drop in June as compared to same time last year. Yes it is supply and demand, and simply a drop in demand.

But then I would not expect you to do any research to get facts, instead it is easier for you to pull them out of thin air.

The next big test will be China and India. China is keeping the price at an artificial low price for the Olympics. With the drop in oil on the market will they let it rise after the Olympics. If they do the price will drop again, if not then it could remain where it is or rise.

But then I would not expect you to do any research to get facts, instead it is easier for you to pull them out of thin air.

The US agreement to talk to Iran has lowered tension in the oil fields. The result is fear of disruption, this adds to the downward pressure.

But then I would not expect you to do any research to get facts, instead it is easier for you to pull them out of thin air.

Bob I would expect nothing less.

Tim Jones, why don’t you look up how many countries sent troops into Iraq in the initial invasion and occupation.

Tango, you are hopeless.

Well yes, Mr. Hauschultz, one could say this is not the most, uh, ‘fertile time’ for those enamored of privatizing the sinking-but fixable-Social Security system by way of the wiles of Wall Street. Nope, not an easy one
to push right now…