Dems turn the tables on ‘Drill, baby, drill’

[babylonsister]

Dems turn the tables on ‘Drill, baby, drill’
By Alexander Bolton - 03/16/11 07:57 PM ET


Democrats say they learned their lesson from the summer of 2008 and have resolved to go on the offensive to avoid another pummeling over high gas prices.

snip//

One idea comes from Sen. Amy Klobuchar (D-Minn.), who wants the Commodity Futures Trading Commission to act immediately to limit excessive price speculation in the oil markets.

Another comes from Sen. Sherrod Brown (D-Ohio), who has urged the State Department to press oil-producing nations to increase their production while the U.S. economy continues to recover from the 2008 financial collapse.

A third idea, put forward by Sen. Herb Kohl (D-Wis.), would give the Justice Department authority to prosecute OPEC member nations that collude to boost the price of oil.

“The proposal empowers DOJ to go after foreign countries for collusion on oil pricing — it says OPEC is a monopoly and shouldn’t be given sovereign immunity,” said a Democratic aide familiar with the legislation.

more...

http://thehill.com/homenews/senate/150317-dems-turn-tables-on-drill-baby-drill

[MannyGoldstein]

1. Too bad they have to fight the President on this.

And Republicans.

[Buzz Clik]

5. And nearly all the Democrats in Congress.

I wouldn't doubt that these guys would vote against their own bills to garner favor in their home districts.

[geckosfeet]

2. But we claim soveriegn immunity for ourselves?

[orwell]

3. We are already...

...at an all time high for production.

If by collusion Kohl means disbanding OPEC good luck with that one.

The only idea with merit is Klobuchar's. This was supposed to be in place months ago but the commissioners are politically deadlocked.

[Buzz Clik]

4. Not sure who they think they will be impressing with these tactics.

The conservatives will scorn the idea of limiting price speculation, they despise the concept of increased energy dependence on foreign nations, and most everyone will snicker at the idea of the Justice Department having any authority to sue/prosecute OPEC nations. Such a concept will require international clout, and that is unlikely to come anytime soon.

[randr]

6. Drilling is a tax subsidized process that does not guarentee any oil or gas for Americans

[SlimJimmy]

7. True, but it does add to the global market which will bring the price down over time as the

reserves grow. We don't have our *own* oil, but then neither do the Saudis. It's all put on the global market.