Holy Crap! New Senate Bill Will Ban All Offshore Drilling, AND Raise CAFE Standard to 55 MPG!

ludicris

Never happen.

Hope you are right. Not everyone wants a single cylinder two seater vehicle in the future.

What on earth good would an offshore drilling ban do? And 55mpg? Haha, why don't you try making everyone ride bikes instead?

"What on earth good would an offshore drilling ban do?"

Raise the price of oil closer to where it should be were it not for our continual government spending to protect the industry, thus adding to the incentive for U.S. manufacturers to produce more fuel-efficient vehicles. If they don't respond (and I'm not sure why they couldn't)? Well, then you're next car will be an electric Geely Corvette.


And 55mpg? Haha, why don't you try making everyone ride bikes instead?

You know what, nevermind, if they ban offshore drilling, that will cause the Albertan oil sands project to kick into overdrive again.

"Raise the price of oil closer to where it should be were it not for our continual government spending..."

That is precisely what government spending, in a general sense, does- raises the price of crude and thus gasoline. More precisely, the monetization of debt or any other behavior that devalues the dollar automatically results in increased oil prices on the international market because oil is priced in U.S. dollars everywhere, but costs are in local currency. Interestingly, a weak dollar actually decreases oil price volatility in places with strong currencies such as Europe.

As far as the government protecting the industry, you will have to be more specific.

"As far as the government protecting the industry, you will have to be more specific."

One concrete example is the cap on liability damage and one fuzzier example (and measuring oil industry subsidization is one fuzzy matter) is any military spending to protect oil interests abroad.

As far as government spending's general effect on dollar devaluation and thus crude prices, I understand. But that said, any of it spent on the oil industry (e.g., oil-spill clean up, tax breaks, assumption of risk) should have a mitigating effect.

I agree that it is a fuzzy issue, however, people generally like to jump on the bandwagon against the oil companies without much deference to the truth. Example: the only way the federal government pays to clean up and oil spill is if it is classified as a Superfund site by the EPA. I know of no Superfund sites that are the result of Oil and Gas upstream operations (that doesn't mean that there aren't any). There are instances of State oil and gas commissions paying for remediation of older wells in some instances, however, the money actually generally does not come from the taxpayers as the commissions are usually funded entirely by the oil and gas industry itself (usually through the assessment of a mill levy).

In addition, things declared by the media to be "tax-breaks" in some instances are nothing of the sort. Example: the MMS royalty suspension program in the Gulf. This was instituted in order to promote the development of tracts or blocks that were too risky for development otherwise. Meaning, there is no deferred income on the part of the MMS. It isn't a tax break.

It's Bernie Sanders from Vermont, if you follow polotics at all, you're not suprised. Nothing will come of it.

I realize this congressman thinks he's saving the planet. The question is, what planet does he live on? This bill is absurdly unrealistic.

Well, when you travel around via tax-payer funded jets(which are not affected by CAFE MPG standards), why would you care what the minions have to deal with?

Politicians = self-serving idiots.

It is not realistic because expecting everyone to drive small diesel hybrid pop cans instead of trucks will never work. No one is doubting that 55mpg vehicles aren't possible. Everyone is doubting that enough of a market exists.

are possible*

We all know that we have the technology to get rid of fosil fuels, but those bastards owns all the pattents, and if you have a better option even the goverment could be your enemy...55 mpg is posible but thats is just a fake. The compnies will buy some people in the goverment and we will continue spending gasoline with ofensive prices.

This is what you get when you give socialists a majority.

majority of the population doesn't know what "socialist" means either....

How is the Obama administration socialist? You don't even know what the word "Socialist" means. LOL!

Socialism defined as..A practical application of this doctrine under which the government owns and operates all principal industries. The orthodox doctrine, based largely upon writings of Karal Marx. So in a nutshell, Obama has managed to own the auto industry, Banks, Health care, Lending instutitions and wall street. Seems like socialism to me.

"Socialism defined as..A practical application of this doctrine under which the government owns and operates all principal industries. The orthodox doctrine, based largely upon writings of Karal Marx. So in a nutshell, Obama has managed to own the auto industry, Banks, Health care, Lending instutitions and wall street. Seems like socialism to me."

- Where do I start? GM was a sinking ship. If it weren't for the Obama administration they wouldn't exist. GM was begging to be saved. It’s more of a bailout than a takeover. GM doesn’t have any direction. They needed to be taken over.

- And how specifically does the Government now own healthcare? None of the private healthcare providers were taken over by the Government. Same goes for the banks, lending institutions, and Wall Street. You can say it's socialism but without any evidence of actual takeovers, it’s just hot air. Seems that you are more for the protection of corporations than you are for the well being of the individual?

Obama is the best thing that could have happened to this country, cause god knows the Republicans are clueless.

LS.. Either you don't see the bigger picture or you refuse to understand this administrations directions. Your comment has so many flaws, there is not enough space to lay it out for you. Obama has done nothing but put down America. He Is the Worst President to date and His poll numbers prove it. Droping faster than a prom dress. BTW this bill won't happen.

All presidents numbers go down after the first couple of years. Not liking Obama is one thing, making up B.S is another. The two seem to go hand-and-hand these days.

And you failed to answer my question about Obama taking over healthcare, banks, lending institutions, and Wall Street. I'll ask again. Which private company, of the industries that I just mentioned, has Obama taken over? Name one company? If you can't? then all you are doing is spewing hot air. Remember, you were the one who said that Obama has taken over those industries. yet cannot provide a single company. LOL! Hot-Air anyone?

You say that "Obama has done nothing but put down America." Can you name some specific examples? Other than a failed GM, you've provided no proof to back up your statements. Examples please and not hot-air.

No examples? Just deboosting. You guys are pathetic. LOL!!

2030, people. 2030. If we're still using gas by then we will be running Windows XP with IE 6.

Well i guess i am 20 years ahead of the game. Getting 55mpg flooring it and about 62mpg when going easy. All while being able to accelerate as fast as a 350z to about 70mph.

Huu76,

Racist much?

Calm yourself Philistine! He's on it!

Sanders was on Tom Hartman (radio show) yesterday taking calls from listeners. Never a more useless politician have I ever heard live. Devoid of personality, charisma, ideas, solutions.

Useless.