In response to:

Another Reason Ezra Klein is an Idiot

David4 Wrote: Feb 25, 2013 11:58 AM
Why the cost of oil? Cost is a f(supply, demand). Demand in the US, as you say, is flat. Demand in the rest of the world: maybe not so flat. Supply out of existing fields is inexorably going down. Supply out of new fields is increasingly more expensive. Much of the supply comes out of places and countries that don't like the US and would rather sell oil to other customers, or just leave the oil in the ground for now. Also, increased US money supply increasingly winds up in the hands of counties we import from. They buy oil too, and their money competes with our money. Increasingly they get the oil and we pay higher prices for what's left.
mike1471 Wrote: Feb 25, 2013 2:35 PM
Please stop double posting. As far as the oil produced by Obummer, try looking at the oil from Federal Leases. The fact that the private lands are being used and the public lands are closed, does not seem to affect your reasoning. Must be because your head is in a dark place where the sun does not shine. At least be honest when you argue and stop trying to define what "is" is. Do you even see how you are being hypocritical or is it beyond your grade level?
myer Wrote: Feb 25, 2013 2:28 PM
Only in your world which gets smaller everyday where facts dont matter,
myer Wrote: Feb 25, 2013 2:16 PM
More domestic oil was produced under Obama than under Bush. Its up 11% under Obama and was down 15% under Bush. The increase of 776,000 barrels a day is the biggest increase in history. There are more oil rigs producing under Obama than under Bush. Natural gas is up to historic highs as well. We are drilling baby
myer Wrote: Feb 25, 2013 2:00 PM
No thats not the case. The price of oil has increased despite a lowered worldwide demand. Thats a fact and even Ransom says so. Also we import 40% of our oil and 40% of that comes from Canada. Yes some of the countries dont like us and would prefer to sell to others but Venezuela which has this as a goal sells 65% of their oil to us. US oil production rose by 760,000 barrels a day--The largest increase in history. Yes its more expensive to get but it gets more expensive for everyone every day. The money all comes back because they need to buy nearly everything they need in the middle east africa and south america. Our money doesnt compete with their money because we buy with dollars and they take them.
myer Wrote: Feb 25, 2013 2:00 PM
No thats not the case. The price of oil has increased despite a lowered worldwide demand. Thats a fact and even Ransom says so. Also we import 40% of our oil and 40% of that comes from Canada. Yes some of the countries dont like us and would prefer to sell to others but Venezuela which has this as a goal sells 65% of their oil to us. US oil production rose by 760,000 barrels a day--The largest increase in history. Yes its more expensive to get but it gets more expensive for everyone every day. The money all comes back because they need to buy nearly everything they need in the middle east africa and south america. Our money doesnt compete with their money because we buy with dollars and they take them.
gungy Wrote: Feb 25, 2013 12:16 PM
Hmm, David4, from the apparently "much stupider audience," just handed myer's butt to him.
Colonialgirl Wrote: Feb 25, 2013 12:08 PM
We have PLENTY of oil in this country Just get Obama's butt out of the way and drill baby drill!!

For listeners of my radio show, you’ll know that most Fridays we do a segment called Ezra Klein is an Idiot. We don’t just call out the fallacies of Klein during the segment, however. We include liberals like Al Sharpton and John Boehner too, who both recently bemoaned the effects of sequester on our economy.

Our real problems of course aren’t the dramatic and manufactured small things like sequester or the “fiscal cliff” that are made up by Washington wonks to keep the gravy train rolling. They are much more complex, and more dangerous.     

It takes a...