Countdown: What's REALLY behind high gas prices...and why McCain is a liar

This is the best report I've seen on the subject of "market speculation" regarding oil prices...as well as John McCain's ties to it.



1) But wait, I thought it was the "environmentalists" fault because their regulations wouldn't let us build enough refineries?

Oil Refiners See Profits Sink As Consumption Falls

However much the companies would like to raise gasoline prices enough to pass along the full increases in oil, analysts say they have been unable to do it. Oil prices doubled in the past year, while wholesale gasoline prices rose a mere 39 percent.

“Refiners are having a terrible time,” said Lawrence J. Goldstein, an economist at the Energy Policy Research Foundation...

Their answer? Cut down on refining.

...The rising oil prices have led to a sharp drop in refining profit margins, or the difference between the cost of oil and the cost of gasoline. These margins, at $12.45 a barrel on average, are 60 percent below their year-ago level, and in the lower half of their five-year range, according to a report by UBS.

In response to falling gasoline demand and rising costs, refiners have cut their production rates. Refining utilization rates, for example, slumped to a low of 81.4 percent in the second week of April, compared with 90.4 percent at the same time last year. Earlier this month, refineries were running at 85 percent of their capacity.

2) We need to drill for more oil...open up those offshore areas like McCain and Bush are suggesting.

Wrong...for example, ANWR sure wouldn't have made a difference. According to The Energy Information Administration, which is "the Energy Department's independent analytical arm":

...if Congress had cleared Bush's ANWR drilling plan the oil would have been available to refiners in 2011, but only at a small volume of 40,000 barrels a day -- a drop in the bucket compared with the 20.6 million barrels the U.S. consumes daily.

At peak production, ANWR could have potentially added 780,000 barrels a day to U.S. crude oil output by 2020, according to the EIA.

Nor would it have made a difference with foreign oil:

The extra supplies would have cut dependence on foreign oil, but only slightly. With ANWR crude, imports would have met 60 percent of U.S. oil demand in 2020, down from 62 percent without the refuge's supplies.

But McCain has now changed his tune and is heading down that dead-end drilling route:

Sen. John McCain plans to call Tuesday for lifting the ban that prevents offshore oil and gas drilling along much of the U.S. coastline — but would give states like Florida veto power over opening up their shores.

McCain, who plans to unveil his proposal in detail Tuesday, said Monday that lifting the decades-old moratorium should be a "very high priority'' with gasoline prices soaring. He said that allowing states to explore for gas and oil "and perhaps providing additional incentives for states to permit exploration off their coasts … would be very helpful in the short term in resolving our energy crisis.''

So 5 to 12 years is the short-term to him?

Back in January, he felt a little differently about drilling in Florida:

As far as ANWR is concerned, I don’t want to drill in the Grand Canyon, and I don’t want to drill in the Everglades. This is one of the most pristine and beautiful parts of the world.

I guess not so much now.

Let's get into it...the "first Mrs. McCain"

This is what John McCain REALLY thinks about older women.

Any Hillary Clinton supporter who thought for a second that she would get behind John McCain instead of Obama should read this article.

From Americablog who got it from the Daily Mail:

McCain likes to illustrate his moral fibre by referring to his five years as a prisoner-of-war in Vietnam. And to demonstrate his commitment to family values, the 71-year-old former US Navy pilot pays warm tribute to his beautiful blonde wife, Cindy, with whom he has four children.

But there is another Mrs McCain who casts a ghostly shadow over the Senator’s presidential campaign. She is seldom seen and rarely written about, despite being mother to McCain’s three eldest children....

[W]hen McCain returned to America in 1973 to a fanfare of publicity and a handshake from Richard Nixon, he discovered his wife had been disfigured in a terrible car crash three years earlier. Her car had skidded on icy roads into a telegraph pole on Christmas Eve, 1969. Her pelvis and one arm were shattered by the impact and she suffered massive internal injuries.

When Carol was discharged from hospital after six months of life-saving surgery, the prognosis was bleak. In order to save her legs, surgeons had been forced to cut away huge sections of shattered bone, taking with it her tall, willowy figure. She was confined to a wheelchair and was forced to use a catheter.

Through sheer hard work, Carol learned to walk again. But when John McCain came home from Vietnam, she had gained a lot of weight and bore little resemblance to her old self.

Today, she stands at just 5ft4in and still walks awkwardly, with a pronounced limp. Her body is held together by screws and metal plates and, at 70, her face is worn by wrinkles that speak of decades of silent suffering....

McCain divorced her in 1980 and married Cindy, 18 years his junior and the heir to an Arizona brewing fortune, just one month later....

'My accident is well recorded. I had 23 operations, I am five inches shorter than I used to be and I was in hospital for six months. It was just awful, but it wasn’t the reason for my divorce.

‘My marriage ended because John McCain didn’t want to be 40, he wanted to be 25. You know that happens...it just does.’

Some of McCain’s acquaintances are less forgiving, however. They portray the politician as a self-centred womaniser who effectively abandoned his crippled wife to ‘play the field’. They accuse him of finally settling on Cindy, a former rodeo beauty queen, for financial reasons....

When McCain – his hair turned prematurely white and his body reduced to little more than a skeleton – was released in March 1973, he told reporters he was overjoyed to see Carol again.

But friends say privately he was ‘appalled’ by the change in her appearance. At first, though, he was kind, assuring her: ‘I don’t look so good myself. It’s fine.’...

In 1979 – while still married to Carol – he met Cindy at a cocktail party in Hawaii. Over the next six months he pursued her, flying around the country to see her. Then he began to push to end his marriage.

Carol and her children were devastated. ‘It was a complete surprise,’ says Nancy Reynolds, a former Reagan aide....

Ted Sampley, who fought with US Special Forces in Vietnam and is now a leading campaigner for veterans’ rights, said: ‘I have been following John McCain’s career for nearly 20 years. I know him personally. There is something wrong with this guy and let me tell you what it is – deceit.

‘When he came home and saw that Carol was not the beauty he left behind, he started running around on her almost right away. Everybody around him knew it.

‘Eventually he met Cindy and she was young and beautiful and very wealthy. At that point McCain just dumped Carol for something he thought was better.

‘This is a guy who makes such a big deal about his character. He has no character. He is a fake. If there was any character in that first marriage, it all belonged to Carol.’...

But Ross Perot, who paid her medical bills all those years ago, now believes that both Carol McCain and the American people have been taken in by a man who is unusually slick and cruel – even by the standards of modern politics.

‘McCain is the classic opportunist. He’s always reaching for attention and glory,’ he said.

‘After he came home, Carol walked with a limp. So he threw her over for a poster girl with big money from Arizona. And the rest is history.’