I thought drilling for more oil would not lower prices. But draining our strategic reserve will lower prices, hmmm. She is such an idiot, and this is a great example of why democrats have a complete inability to understand supply and demand.

http://michellemalkin.com/2008/07/08...eous-emission/

House Speaker Nancy Pelosi is calling on President Bush to release oil from the Strategic Petroleum Reserve in order to bring down prices.
Pelosi (D-Calif.) announced to Democratic leaders Tuesday night that she has written a letter to President Bush, urging him to release a “small” amount of oil from the government stockpile to increase supply and decrease prices, a leadership aide said.
In the letter, Pelosi said the price of a barrel of oil has risen nearly five-fold during Bush’s tenure and called the effects “devastating.”
“These are the kind of circumstances, in addition to national security, in which utilization of the Strategic Petroleum Reserve is more than justified,” Pelosi wrote in the letter, dated Tuesday.
The reserve comprises a series of Gulf Coast salt caverns that house the largest emergency oil stockpile in the world. It currently holds 706 million barrels, about 97 percent of the reserve’s 727 million barrel capacity. That’s the most the reserve has ever held and would replace foreign supplies for about 58 days.
It is not clear what impact a release would have on current prices. The U.S. uses about 20 million barrels of oil a day.

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Liberals believe it is okay to kill babies, but not terrorists.

democrats believe it is okay to taser a 10 year old if this stance will get their guy elected.

Idiocy personified in a skeletal old wind-bag.

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Every decent man is ashamed of the government he lives under. – H.L. Mencken

I refuse to trade humanity for patriotism.

Releasing oil from the reserve will drop the price of oil by a few cents now while drilling offshore might possibly drop the price of oil by a few cents in 10 years. Although you certainly provided no evidence that Pelosi did say drilling for oil wouldn't decrease prices, she would be right in saying that it won't do a thing for many years to come. The good part about releasing oil from the strategic reserve is that it doesn't increase the liklihood of an oil spill.

Wow, and I thought sueing the oil companies was the worst possible idea....

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Your democrat talking point has been proven false. Oil can flow in less than 3 years when drilling offshore and oil from Anwr can be had in less than 3 months from the time the drilling starts. So do some research before you rehash talking points. Go Illini.

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Liberals believe it is okay to kill babies, but not terrorists.

democrats believe it is okay to taser a 10 year old if this stance will get their guy elected.

Those reserves are for dire emergencies, not to be used because we are upset about how expensive gas is, it's terribly short-sighted.

Agreed, but I have yet to see any politicians who actually think of the future, with the exception of people like Ron Paul.

I agree that Ron Paul should be the Republican nominee, our oil reserves would be off-limits and we would have a shot at balancing the budget.

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Liberals believe it is okay to kill babies, but not terrorists.

democrats believe it is okay to taser a 10 year old if this stance will get their guy elected.

As a general rule, I think politicians can't see beyond the next election.

How much more expensive will the oil be when we go to replace the oil we are releasing? This would only be a "good" idea if we knew the price of oil was going down in the future. However, I have only heard predictions of the opposite, that it will continue to rise.

Dude...WEATHERMEN see further into the future than politicians do.

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"It's the rich people's fault they earn more." - Makedde