(Sen.) Schumer Proposes Putting Pressure On Saudi Arabia Over Oil

Source: NYOne

At the Hess on 44th Street and Tenth Avenue in Manhattan on Sunday, the gas price stood at $3.81 per gallon for regular, which had Senator Charles Schumer speaking up.

"We all know how the price of gasoline is through the roof," said New York's senior senator. "We all know how it's burning a hole in everyone's wallets and pocket books. And we all know how it's crimping our economy."

He and four other senators are calling on the Bush administration to use its leverage with members of OPEC to force them to increase oil supplies.

"There is one way to get the prices of oil down and it's two words -- Saudi Arabia," said Schumer.

Schumer proposes holding up multi-billion dollar arms deals with the Saudis unless they put more oil into circulation. He says the Saudi Arabia has been cutting back production the past few years, leading to a drop in supply, increased prices, and more money in the Saudis pockets.

Read more: http://www.ny1.com/ny1/content/index.jsp?stid=3&aid=81230

with big oil to jack up prices.

If elected he would put pressure on the saudis to lower oil prices. And he was elected and all he did was walk around holding hands with them. and years later after oil prices had gotten out of hand he went to them and begged them to increase production and lower prices and they laughed at him.

One thing we'll NEVER hold up and that is a multi billion dollar arms deal with anybody. Its the only thing we export anymore.

free market criminal energy traders that are driving up the price of ENERGY and by extension EVERYTHING ELSE. Oh, that's right, those criminal energy traders are YOUR CONSTITUENTS and we certainly wouldn't want to rock their boats. Idiot.

Read "Twilight in the Desert" by Matt Simmons ... the Saudis have very little 'extra' petroleum they can start pumping so that some Americans can drive around in Hummers and Excursions.

Schumer is looking for a scapegoat instead of looking in the mirror for the source of and the solution to the gasoline problem. The problem is we use too much and the solution is to conserve and use less.

And we shouldn't be selling the Saudis arms anyway.

Schumer is an IDIOT
Posted by earthside
Read "Twilight in the Desert" by Matt Simmons ... the Saudis have very little 'extra' petroleum they can start pumping so that some Americans can drive around in Hummers and Excursions.

Schumer is looking for a scapegoat instead of looking in the mirror for the source of and the solution to the gasoline problem. The problem is we use too much and the solution is to conserve and use less.

And we shouldn't be selling the Saudis arms anyway.


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Conserve, then you don't have to worry about it anymore.

Why isn't anyone talking about work from home tax deductions? As in if you let your employees work from home you get x dollars off your taxes? :shrug: Seems like a good start!

Although you could make a case that the distractions at home might make for a decline in productivity rates.

Rp

Tax holidays and other gimmicks offered by those who intend to do nothing is pure bull shit.

Only about 15% of our oil imports are from Saudi Arabia- most are from Canada and Venezuela

Saudi oil reserve numbers are vastly over-inflated. If you look at their published estimates, they haven't changed since the 1980's despite the pumping of hundreds of billions of barrels in that time. We are to believe that they are discovering exactly the same amount of new reserves they pump every year? Please. Their books are cooked.

In the meantime, virtually every other major oil producer worldwide is entering decline. That includes Russia, Mexico, the British North Sea fields, Kuwait, etc. Where are we going to get new oil from?

There is only one OPEC nation that even might have any extra capacity. It is not in the Saudi Arabian's national interest to drain their reserves of cheap oil to satisfy our over-consumptive needs. It is in our national interest to sell billions of dollars of weapons to the Sauds, as that is about the only export manufacturing we do anymore. Chucky might want to talk instead about conservation, alternative energy development, and a windfall profits tax to take some of the profits out of speculation. In addition, when the dollar is deliberately devalued by 40% what exactly does Chucky think is going to happen to the dollar price of commodities?

we would not be in such a mess.

High mileage standards NOW

Mass Transit NOW

REAL alternative fuels NOW

Damn it, how much more secure would America have been if Congress had heard that and acted decades ago? I have heard it all my life. Congress after Congress caved, delaying and increasing the pain of necessary change for donor money now.

For all my life!

Hard to take anyone on the Hill seriously when they try to put the ball in Arabia's court. Farce and fiddling while Rome burns.

We could have a lot more oil if most of it wasn't being siphoned off by criminal enterprise in Iraq. There goes a lot of "supply" right there. Is Schumer screaming about that and cutting off funds?

the main problem in this country is i believe our lack of mass transit and our abismol fuel milage standards.