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Location: Pantego, Texas, United States

Tuesday, July 29, 2008

Leading Democrats are opposed to more oil drilling. Not usually spoken, but they want oil prices to go higher. Obama let that slip when he said he was OK with $4 per gallon gasoline, but thought the increase should have been slower than was the case recently. Nancy Pelosi makes the Democrat's position clear. Today Nancy said she was going to stop the GOP's "failed policy of drilling" because, "I'm trying to save the planet. I'm trying to save the planet." Since she thinks that more drilling is bad, an interesting observation would be that shutting down existing oil wells would be good. So a good question is, why isn't she working to shut down oil wells we have.

The Democrats are really into shouting "Bush's failed policies." I wonder how they rate Bush's energy policy a failure since they prevented more drilling from ever being implemented. Some of the Democrats say some mind-boggling things about drilling. Senator Schumer says that more drilling by the Saudis will bring down the price of gasoline, but more drilling in the US won't. For that to make any since, it would have to be related to the ease of refining oil into gasoline in our limited refinery system. (Oil is not as fungible as dollars because some of it is heavy, and hard to refine: light, sweet West Texas crude is the best for making gasoline.) I'm not sure about this, but I think the Saudi oil tends to be heavier than that from Alaska and off-shore, and so more oil from Saudi would do less for gasoline production than an equivalent amount from the US. Schumer must not realize that, and seems to think the opposite, assuming he is thinking at all while he is talking.

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