“STOP THE BULL, TELL THE TRUTH ABOUT OIL”

Posted on 07/01/2008. Filed under: Eric Roberson, Glenn Melancon, Ken Leach, Tom Daley, Tom Love, TX-CD-24, TX-CD-26, TX-CD-3, TX-CD-32, TX-CD-4 |

Tomorrow 5 Democratic Congressional Candidates will hold a press conference to tell the GOP to stop the lies and o something for their constituents.

Five area Democratic Candidates for Congress will gather together today in the midst of a herd of Longhorn cattle and in front of an historic oil well at a well-known Dallas area gas station to tell their GOP Opponents, “Stop the Bull, Tell the Truth about Oil.”

The five candidates are Tom Daley (CD-3), Glenn Melancon (CD-4), Tom Love (CD-24), Ken Leach (CD-26) and Eric Roberson (CD-32). Each is committed to lowering the price of oil for consumers at the pump by working to return balance to our oil futures markets by fully ending the Enron Loophole, London Loophole and enacting common sense market reforms that will return balance to our oil markets.

These Democratic candidates assert that their GOP opponents are selling the citizens of North Texas a wagon load of bull manure by blaming Democrats for today’s high oil process and simultaneously providing no solutions. Texans know something about oil and about oil markets, so it’s time that Congressional Republicans quit their load of bull, stop offering fake solutions to the current oil crunch, and tell Texans the truth.

Anybody who knows anything about futures markets knows that the possibility of oil hitting the market 10-15 years from now will not impact current prices. When faced with the facts, the Democratic Candidates believe that the citizens of North Texas will be able to see through the political Bull and will see that the Democratic Plan for our energy future is the pathway to lower gas prices in both the short and long run.

GOP Load of Bull Facts

Democratic Policies Keep America from Drilling in the Alaska National Wildlife Refuge (ANWR) or in a variety of areas Off-Shore These policies were created by a Republican President, supported by decades by Republican and Democratic congresses, and have long had bipartisan support.

Only Democrats do not want to drill in the Alaska National Wildlife refuge.Even John McCain agrees that ANWR is too pristine to commence drilling

Drilling in ANWR or off the shore of the U.S. coast of the United States will cut the price of oil in half

Oil From these areas will not reach market for more than a decade and according to Energy Information Agency estimates that at the height of potential production oil from ANWR will under most scenarios lower the price of oil less than a dollar per barrel.

Calls for reducing market speculation by re-introducing prior market regulations are merely a “Sham” and will not work.

Wall Street experts agree that uncontrolled speculation is responsible for more than 25% of the current cost of oil. Based on supply and demand alone, the price of oil should be well below 100 a barrel.

The Problem with the oil price is a lack of supply.

Even T. Boone Pickens agrees we can not drill ourselves out of this mess. Currently up to half of the price of a barrel of oil is caused by a “Speculation Premium” and the low value of the Dollar. The best way to lower the price of oil is to end the market of unfair and unneeded speculation and return strength to the US dollar.

The Democratic Solution is anti-market and big government.

The futures markets functioned for decades under the prior rules without the current level of unfair and unneeded speculation. If you believe in the market, you will fix it and not allow it to be manipulated.

These 5 Democratic candidates for Congress will stand in unison to say that the people of North Texas deserve solutions not sound bites. The Democratic Congress is offering a well-reasoned 4-part solution to the current oil mess:

(1)Return the oil futures markets to their historic rules that prevented improper speculation by getting rid of the Enron Loophole, the London Loophole and requiring full registration of all U.S. oil traders to identify the scope of the current problem;

(2)Return strength of the American dollar by moving towards a balanced budget and strengthening the economy;

(3)Enact legislation to increase supply of American Oil by actually requiring the holders of governmental oil leases to “use them or lose them” as is required for coal leases; and,

(4)Work on lowering demand for oil by using market incentives to foster the prompt development of plug-in hybrids and natural gas powered cars that lower emissions and use American sources of power.

When America goes to vote this November, they need to be able to vote based on facts, not on Bull.

After the press conference, each candidate will be available for questioning prior to providing photo opportunities talking with real consumers, pumping gas and checking tire pressures to increase mileage (Full press packets will be available at the event that will include candidate bios, fact sheets, and a detail of current bills in the Congress designed to lower the price of oil for all Americans.)

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