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Thank You Mr. President for Low Gas Prices
Giving credit where credit is due
I've been enjoying some ridiculously low gas prices lately. How about you? Might as well give the President a shout out for making that happen. Right? Well, it wasn't that long ago that the GOP was blaming high gas prices on Obama.
Don't remember that? We have a collective short memory don't we. Somehow high gas prices are the fault of the president but low gas prices are simply something that happens.
Remember when the Republicans were clamoring for the XL pipeline to bring dirty tar sands oil from Canada's thawing tundra to refineries in the US? The same carbon filled sludge that requires burning natural gas to thaw the tar like substance into something that can start to flow?
Remember how the 50 permanent jobs it was going to create was so desperately needed to save our economy? Remember how this oils wasn't going to be sold on the International market but was somehow going to stay right here in the US?
This week the energy industries puppets, the Republicans, passed a budget which lift the nation’s 40-year-old ban on oil exports. So much for keeping America's oil in the U.S.
Wall St. Journal:
"WASHINGTON—In a move considered unthinkable even a few months ago, congressional leaders have agreed to lift the nation’s 40-year-old ban on oil exports, a historic action that reflects political and economic shifts driven by a boom in U.S. oil drilling....By design or not, the agreement hands the oil industry a long-sought victory within days of a major international climate deal that is aimed at sharply reducing emissions from oil and other fuels, a deal opposed by the industry and one that will arguably require its cooperation."
There was also recently a move to sell off a large portion of the U.S. oil reserve. Basically oil that was purchased at peak prices and now will be sold while their is a worldwide oil glut.
So what's going on? Well besides the Republican's being bought by the oil companies, the world oil producers know that their days to selling a product that is killing the earth are numbered.
The recent accords signed in Paris to halt climate change and perhaps save the world from total destruction means that we can't burn every drop of oil on the planet. Some will be able to sell their oil while others will miss out. Now its a worldwide scramble to cash in on the remaining oil that will be sold.
Canada certainly doesn't want to miss out on its chance to sell its tar sands. OPEC's middle east oil producers see the future. They are currently dumping their oil on the world market in a race against time. As the oil fades in popularity, so does the livability factor of living in a desert. They is why they are racing to build world class cities from scratch and are investing in alternative energy for their own countries while dumping oil on the world market.
The US is awash with oil from the unbridled fracking that is happening across the country. Oil is a byproduct found while fracking for natural gas. The energy industry also knows if they keep oil prices low it makes alternatives more expensive. Solar and wind looks great when gas prices are $4 a gallon but then its hovering around $2 a gallon it looks more expensive. It also makes that hybrid car less attractive.
So the GOP is basically in league with the oil companies to slow down the move towards alternative energy. The longer they keep gas prices low, the longer the oil industry has to pump out more oil and sell it.
And people go long with it because they aren't paying attention. The GOP makes sure that they push fear as a distraction. No one pays attention to what's really going on as long as they stay afraid.