A Quote by Phil Gramm
Quite frankly, I think nothing could do more to immediately bolster national security then enabling us to produce more oil and gas here at home at a price consumers could afford.
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Today, energy prices are at historic highs. Some analysts estimate that energy price shocks this year could cost American consumers more than $40 billion. Speaking very frankly, we cannot afford this kind of expense.
For decades, our dependence on OPEC oil has dictated our national security decisions and tied us up in the Middle East at an incredible price. We've spent more than $5 trillion and thousands of American soldiers have died securing Middle East oil.
With open markets, the nation's trade deficit with China would shrink as we export more natural gas and agricultural products and as China's consumers could afford to buy their preferred 'Made in America' products.
The Putin regime's income comes from oil and gas exports. If we could crash the price of these commodities, we could bankrupt the regime.
The thing you have to remember is, oil and gas are commodities, and the more we use them the more the price goes up, like any commodity. Solar, wind - they are technologies, so the more you use them, the more the price goes down.
More customers for Canadian oil means that Canadian producers can charge more for their oil, which then means that American businesses and consumers will pay more for oil.
The oil companies are really making a very lucrative amount of profit from the high price of oil. I don't that they're very keen to reduce the price of oil. The consumers are those who are the victims so I think that the producers, the governments, some of them, they're enjoying the high revenue that they get.
If anybody is so mad at Vladimir Putin, you know what they could do? They could advocate for a gas tax. He gets all his leverage from selling gas and oil. If we had a gas tax that made that less palatable, he would be less of a player on the world stage.
You know, if we're going to bring down the price of gas, you have to have three things. You have to have a big reserve, you have to have the ability to develop oil out of that reserve quickly, and you have to be able to produce oil at a relatively low cost.
Americans once believed that their prosperity and way of life depended on having assured access to Persian Gulf oil. Today, that is no longer the case. The United States is once more an oil exporter. Available and accessible reserves of oil and natural gas in North America are far greater than was once believed. Yet the assumption that the Persian Gulf still qualifies as crucial to American national security persists in Washington. Why?
Fracking is an amazing instance of discovery of many things that come together to make it much cheaper to extract oil and gas. In a world where burning oil and gas puts more and more carbon into the atmosphere, it's not actually the most important kind of innovation to have.
Like any business, the oil industry runs on the basic premise of supply and demand. The more supply - the lower the price. The higher the demand - the higher price. In other words, the more people who can buy oil, the higher the price of oil.
Nothing could do more harm to America's national security than a carbon-restricted, depressed economy that would make funding our military impossible.
We need a reasonable price where producers will not start nagging. At a reasonable price, we can invest to produce more oil.
The price of imported oil in the US doubled between summer 2003 and summer 2005, reducing consumers' purchasing power by more than 1 per cent of gross domestic product.
Even if gas prices fall, consumers will continue to be gouged at the pump the only thing that we can be sure rises faster that the price of gasoline is the skyrocketing profits of oil companies.
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