Oil just passed $135 a barrel today.
Oil prices rose above $135 a barrel for the first time Thursday, with supply worries, global demand and an ever weakening U.S dollar driving crude futures up.
The world’s top energy watchdog is preparing a sharp downward revision of its oil-supply forecast, according to a report in The Wall Street Journal.
Light, sweet crude for July delivery rose as high as $135.09 before falling back slightly. By midday in Europe, the contract stood at $134.37 a barrel in electronic trade on the New York Mercantile Exchange, up $1.20 on Wednesday’s close of $133.17. Read more….
Yet, our elitist Senators, to whom $4.00 a gallon gas apparently doesn’t mean anything, voted to defer the shale oil project in Colorado recently.
A U.S. Senate panel upheld a more cautious approach toward oil shale development in Colorado on Thursday when it narrowly rejected Sen. Wayne Allard’s attempt to lift a moratorium on enacting new rules for commercial leases.
A heated battle over Colorado energy and environmental issues took center stage on Capitol Hill all afternoon. And now the fight could be destined for the floor of the U.S. Senate.
At a Senate Energy and Natural Resources Committee hearing chaired by Sen. Ken Salazar, Colorado Gov. Bill Ritter testified about the need for a cautious approach toward oil shale. He cited unresolved questions about how much water, energy and habitat destruction it could take to extract the estimated 500 billion barrels of oil that are believed to be underground in Colorado.
“Certainly, Colorado is ready and able to help this country meet its future energy needs,” Ritter said. “At the same time, we need to be thoughtful and responsible about our approach, especially in light of the magnitude of such development and the potential for significant impacts.” Read more….
So are you getting this? We have 500 billion barrels of oil sitting in shale (that’s twice the reserves of Saudi Arabia), yet our out of touch elites are worried about “water” and “habitat destruction”!
Do you know what I’m worried about? My ability to pay my bills as gasoline is taking a larger and larger chunk of my paycheck each week.
Think about it, we’ve been drilling in Alaska for decades, yet there have been no environmental disasters from the wells or the pipelines. We’ve been drilling off the coast of Louisiana for decades and even with hurricanes, the oil platforms aren’t polluting.
These environmentalists are going to economically destroy this country.
We need oil and we need oil now. Yet our elites are more concerned about the environment than they are about you.
Trackposted to Outside the Beltway, Rosemary’s Thoughts, third world county, Faultline USA, Woman Honor Thyself, Right Truth, The Pink Flamingo, Cao’s Blog, Dumb Ox Daily News, , CORSARI D’ITALIA, Right Voices, and The Yankee Sailor, thanks to Linkfest Haven Deluxe.
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Tags: Shale oil
25 Comments to “OUTRAGE! With Oil at $135 a Barrel, Senate Blocks Oil Shale”
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thanks for the link!..sorry it got caught in the spam filter..I fished u out!
News: Illegal aliens…
I have a few articles for you today. The first one pertains to an article in which over 30,000 illegal aliens are stopped from voting in Arizona on May 12, 2008, another article concerns the arrests of several hundred illegal aliens in Iowa…
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*sigh*
And then there’re the deposits that stretch across ND. and into MT that may more than double the CO deposits… and are similarly restricted.
$3.66 for regular this a.m., with gas station emps warning of $4 gas to come.
And the Saudis have a lifting cost of $5/barrel. That’s about $130/barrel going to fund the lifestyles of the rich jihadis. Our congresscritters, of course, can’t se the value in keeping that money out of the hands of the financers of terrorism. Typical. As Mark Twain so famously said,
“Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself.”
Or perhaps this comment of his is more appropriate?
“There is no native criminal class except Congress.”
Yeh, the criminal neglect of their responsibilities to citizens reflected by this latest outrageous action is typical. Stupidity or cupidity? Or both?
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The Big Broke…
Podcast Show Notes
McCain gives out points for friendly blog comments. (Hat Tip: Red State.)
Who is smarter? Howard Dean or the Founding Fathers? And why do the Dems want to get rid of the electoral college?
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The United States should increase its domestic oil s…
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[...] to Outside the Beltway, The Virtuous Republic, Rosemary’s Thoughts, Right Truth, Shadowscope, Cao’s Blog, Conservative Cat, Diary of [...]
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