by Lone Shark
In yet another episode of the ongoing series “Where have I heard this before”, Senator Bill Nelson is upset yet again about the latest spike in gasoline prices. But rather than take the more obvious path to lower gas prices and greater energy independence, which would entail opening up American shores and land to oil exploration and drilling immediately, Senator Nelson thinks that the route back to lower prices at the pump is to go after oil speculators- a dubious diversionary tactic that completely distracts from the havoc that the Obama Administration and the Department of Interior have wreaked on our domestic drilling industry as well as on future exploration efforts. Nelson is content to use oil speculators as a convenient whipping boy to cover for the failed energy policies of the Obama Administration rather than address issues pertaining to the more relevant cost drivers of gasoline.
That a government clampdown on oil speculators would make a sustained difference on the price of gasoline is not a settled issue. Nelson also treated the speculators as disruptive boogeymen back in 2008 when he sponsored legislation to ban unregulated speculative trading of oil futures and energy commodities. But here’s the rub- the price of gas declined substantially even without Nelson’s legislation passing. At about the same time, then President Bush lifted the Executive’s ban on outer continental drilling, and later that year, Congress allowed the congressional moratorium on outer continental drilling to expire. Both of these events caused the price of oil to decline substantially in the second half of 2008, and yet speculators continued to speculate. Nelson’s complaining about gas prices disappeared, but now it’s back again at a politically opportune time. Senator Nelson needs to be asked the obvious- which was a far more relevant cost driver of the price of gasoline in 2008- speculators, or our self-imposed national moratorium?
A sustained national commitment to exploration and drilling will increase future energy supplies, which will cause oil prices to drop, particularly if world demand also declines. Supply and demand will always be the two most pertinent drivers of gasoline prices- and our nation is not nearly doing enough as it pertains to the supply side. We have little control over the instability and unrest in the world that’s presently taking place, and it’s an undeniable fact that speculators account for the direct relationship between world news and oil prices. Nelson is clearly uncomfortable with some of the less known components of a free market system, which is why he periodically goes after oil speculators, an easy target who are incapable of defending themselves.
And here’s some more unfortunate news for energy prices- President Obama’s FY 2012 budget proposes a massive tax increase on gasoline- a $328 Billion dollar line item in the budget identified only as “Bipartisan Financing for Transportation Trust Fund”- give President Obama credit for his utter brazenness as well as his low opinion of the public’s ability to read his fine print. Will Nelson will express his opposition to this latest proposed gas tax increase, considering how concerned he is about gas prices?
Senator Nelson can talk about why gas prices are increasing until he’s blue in the face, but continuing to ignore the two 800-pound gorillas in the room that we do in fact control- federal taxes on gasoline and government regulations which effectively prevent new drilling on land and off the coasts- only serves to prolong our lack of a coherent national energy plan, and it will stall any future economic growth. Houston, we have a problem….
17 Responses to “Nelson’s Call for More Government Regulations to Lower Gas Prices is Spaced Out”
This is one senator we can all do without. He won’t run next time, just stick a fork in him, he must be done.
What a mental midget.
Say wouldn’t it be far better to just drill for more oil? Or even … in 2009 a U of T study and pilot refining plant was built for the Canadian government. The conclusion was coal could be converted(refined) into gasoline and diesel fuel at a cost of $30 a barrel oil equivalent. Funny when you realize the USA is no less than the Saudi Arabia of coal, with about 30% of the world’s known reserves.
Think “Fischer-Tropsch”.
One of the base steps is refining the coal into natural gas, think “Destin Dome” and all the natural gas contained there.
Why do intelligent people think windmills will ever produce replacement electricity? Even the Chinese are betting on the next reactor technology “Thorium Fueled” reactors, cheap inexpensive, safer to operate.
Nelson is so STUPID he makes Obama look brilliant. Supply and Demand does not exist for these Socialists. The Gulf has a drilling Moratorium ( In violation of Federal Court Orders) Drilling Rigs leave for YEARS and Nelson blames futures traders. Not a brain in sight for these empty suits!
Why should consumers and the country suffer when people speculate on oil? This is a reasonable question. Look at the havoc Enron caused with CA energy prices and artificial shortages. Don’t see how drilling more creates energy independence. Just shifts some production to our waters/land.
Energy independence will come when we get rid of the gas engine!
The only reason he won the last is, because Katherine Harrison ran against him. Please Katherine I meant no offence to you. You are a gracious lady, and I mean that sincerely. I guess there was to much angst, because of the Bush/Gore election, and Florida hadn’t gotten clobbered yet. The fact is he just a stuffed suit, and a Obama rump swap. You talk about Charlie Crist and the Obama hug. Maybe it’s Nelson and Obama Kiss.
Senator Nelson is a Mental MIDGET!
We need to kick him out in 2012!
This man is an embarrassment. Every time he opens his mouth on ANY issue, it only exacerbates the perception that he is truly clueless.
The market in oil is less than free but speculaters are not the ones in control. OPEC does not have complete control but it has enough contol of the supply to set minumum prices world wide. Idiots like nelson and hillary “i want to take those profits “clinton may cause the major oil companys to split their companys into a US company holding only US based assets and an international company incorporatred outside our borders. The law of supply and demand is not subject to political control. Politicians can and often do affect restrictions on supply but not expansions of the same.The oil companys immediately began moving rigs everseas when the drilling moratorium began, hence most of the new supply will be based where they are drilling making us more dependent on unfriendly foreign governments.
Nelsons puppet strings are being pulled by Obama and his Progressives. He doesn’t represent Florida he represents Obamas’ federal Progressive agenda. Nelson has to go.
I believe we need to cut business regulations and allow drilling in US, Oshore waters and any where else we control to get more, gas, oil, coal, etc. Cut 75 % of our businss regs and bring mfg jobs back home. I think that the Gov of WI is on the right tract but do not agree with Gov Scott’s decision to cut a fast monorail!
Is he for real??? One more idiot in the Senate.
Nelson is a True Imbecile. His departure from the Senate and Florida politics should have been yesterday!
Nelson needs to go . He talks a good talk, but goes right along with the Obama agenda. The people of Fl are hurting and we could get alot of jobs here if we were allowed drilling for oil. Less oil from people who hate us.
I saw a poll on Nelson he is below 50%. It is encouraging. Maybe he will decide to retire. I can dream.
Mr Nelson continues to leglislate against the will of his constituents. He will be voted out BIG in 2012.
He is such a man of no integrity that when he lived right here in Rocky Point, he screwed my friend that had a lawn service that cut his grass for two (2) months, over $800. He said “I’m not paying. Sue me, get a lawyer”. He is a pathetic man.
Senator Nelson is so far out of touch with what is necessary to fix the problems facing us because he has been a career politician too long. He might just be able to see what is going on if he would pull his head out of the presidents butt long enough to wipe his eyes. He needs to lose his job in 2012. As for Gov. Scott, he is all about fixing Florida’s problems, the hell with the high speed rail system at this time. When we can afford it, maybe then. I say, tell obama what he can do with the money. If he gives it to another state let them take it and go down the toilet with our half-man pseudo-president. “obama” is not capitalized because there is no respect to make it so.
You’re right on target. Besides this has alredy been tried – guess what happened. The benefits to drillilng now on both our economy and our national security are so obvious that it is mindboggling to hear these guys rant on. I hope the republicans, after they address the current financial issues, will generate a sound energy policy.