Use access key #2 to skip to page content.

Obama Apparently Wants HIGHER Oil Prices



June 25, 2008 – Comments (3) | RELATED TICKERS: SU , BQI.DL

Obama's clean-oil push could threaten oilsandsSheldon Alberts, Washington Correspondent ,  Canwest News Service Published: Tuesday, June 24, 2008

WASHINGTON - Barack Obama on Tuesday vowed he would break America's addiction to "dirty, dwindling, and dangerously expensive" oil if he is elected U.S. president - and one of his first targets might well be Canada's oilsands.

A senior adviser to Obama's campaign told reporters it's an "open question" whether oil produced from northern Alberta's oilsands fits with the Democratic candidate's plan to shift the U.S. sharply away from consumption of carbon-intensive fossil fuels.

"If it turns out that those technologies don't advance . . . and the only way to produce those resources would be at a significant penalty to climate change, then we don't believe that those resources are going to be part of the long-term, are going to play a growing role in the long-term future," said Jason Grumet, Obama's senior energy adviser.

To Read the Entire Article

Sure, this will affect Canada in the short-term, but it's not as if there isn't a world-wide demand for oil.  With his commitment to not drill for more oil, he's setting himself up for increased demand for oil from less friendly nations.  Good luck with that!  Maybe that's a sign that an Obama administration would be fully committed to bio-fuels.  If so, keep holding your agriculture stocks.

I've never been an Obama fan, but he just keeps giving me more and more reasons to dislike him.  Being Canadian I won't be voting, so I'm sure he could care less about my opinion about him, anyway. LOL!


3 Comments – Post Your Own

#1) On June 25, 2008 at 5:34 PM, cubanstockpicker (21.34) wrote:

When oil companies and the Prez can answer this question then I will allow all the drilling, even in my backyard.

My blog on Oil companies doing everything to raise the price 

Report this comment
#2) On June 25, 2008 at 6:44 PM, LordZ wrote:

Theres nothing clean about oil ??? or coal.

Obama's an idiot.

 Only in America ~

 if only the middle east

would take him back

and keep his butt.

Never ever ever elect a lawyer as a politician.


Report this comment
#3) On June 26, 2008 at 1:54 AM, kristm (99.75) wrote:

His way of breaking our oil habit is kinda like taking someone who overeats and making them consist totally on driveway gravel and water. You cannot make a smooth economic transition to oil by simply taking the oil away. There is no economically viable replacement for petroleum. Raising prices so high that crappy alternatives become the only choice will destroy the country economically and cause millions to starve the way they already have all over the world because of ethanol. Government subsidies on oil replacements would cost so much that the government would collapse.

More money for research would be the best choice, and the places best able to do that research are, hate to tell you, existing oil companies. Taking away their profits does nothing to encourage more research. Period, the end, thank you. 

Report this comment

Featured Broker Partners