Drop in oil price bodes ill for Palin.

[Are_grits_groceries]

Back in Juneau, she's likely to face a new source of friction: budget-cutting tensions due to declining oil revenues. When she starts converting her fiscal-conservative rhetoric into action, opponents may accuse her of preening for voters in North Carolina or Iowa.

http://www.adn.com/sarah-palin/story/583456.html

Let's hope she takes it on the chin for dropping items from the budget. In addition, since she is so picky,
I wouldn't count on the alleged terrorists that were just elected to help her much. AK better hope Begich
gets elected.

[Phred42]

1. Don't kid yourself - that won't last long

OPEC president: Oil cuts likely if no price rally
http://finance.yahoo.com/news/OPEC-president-Oil-cuts-apf-13510172.html

[OmmmSweetOmmm]

2. I'd like to give her another problem. I propose that someone pass a law making it mandatory

that all oil found in the US, be sold to the US, gas too while they're at it. It seems that a lot of Barbie's oil is sold overseas.

After all, what good is "drill, baby, drill" if the US doesn't benefit from it???

[louis-t]

3. Ask all of the DBD folks if they will guarantee

every drop from ANWR and offshore will be sold in US. No one has asked the question.

[OmmmSweetOmmm]

5. Not one "journalist" that I know of, asked that.

[louis-t]

12. The right-wing nutjobs just assume.

And you know what happens when you ass-ume.

[ben_meyers]

4. Try wrapping your head around this

Oil is a fungible commodity, traded on a world wide market. Any increase in supply affects the price and availability everywhere.

[OmmmSweetOmmm]

6. And ironically, OPEC is talking about holding back the supply because

they have been appreciating the rising prices. IMHO, the rising prices were mainly due to the speculators, who now don't have a pot to piss in because of the market collapse and that's why the price of oil is dropping so rapidly.

[XOKCowboy]

9. Iraq and Alaska are in the same boat. They need the high oil prices

because their budgets were based on a target price of $85+ barrel oil. OPEC won't let this last long. They drop production and voila the sheiks, oil companies and Alaska governor's problems disappear.

[OmmmSweetOmmm]

11. Unfortunately, you're right. It was wonderful this week to only have to put $30 in my gas tank.

Oh well........

[TexasObserver]

7. Except for Alaska, that's really unnecessary, as economics dictates it.

The USA has far less supply than demand. The price of a barrel of oil is a worldwide number, but there are great costs to moving it. Oil and gas produced in the US are almost exclusively consumed in the USA. It would make no economic sense to sell them elsewhere.

Alaska, because of its remote location, is different, however. With its distance from the main USA, requiring it to sell only to the USA might be economically unsound, as well as environmentally unsound.

I like your idea for political reasons, because it would tie Sarah Palin down on an important issue. But I can't see it working for Alaskan oil or gas.

[OmmmSweetOmmm]

10. From what I understand, the oil from Alaska is not refined in Alaska but on our west coast. Only 7%

of crude can be exported. The crude oil, once refined is sold to the highest bidder.

[Mari333]

8. So, the porn film Nailin Palin by Larry Flynt

will she be yelling 'drill baby drill' in that ?