Nancy Pelosi, Congresswoman and Speaker of the House, sent a letter to President Bush asking to act immediately to permit a draw down of a small amount of the Strategic Petroleum Reserve.  Don’t open protected areas for plundering by big oil companies. The oil will be sold at the market price and will not reduce the cost of crude oil or gasoline. The Strategic Petroleum Reserve has the highest level of petroleum reserves that it has ever had.  The draw down is expected to help with short term oil prices and indirectly with gasoline prices. 

In the meantime, the President and big oil companies are demanding to be given the right to drill for oil in protected areas.  Nancy Pelosi is against this.  She should be applauded for remaining clear headed during this time of high prices. 

The crude oil in the ground in this country has a value.  Right now it has the highest value that the world market has ever experienced.  Giving oil companies the opportunity to drill and pump these reserves is giving them the right to plunder. 

What price will the oil companies sell the crude oil for?  Well, the oil companies will sell it for whatever the world market will bear.  The oil companies are not going to start producing gasoline at a discount for Americans.  This is a case where the oil company executives are leveraging the panic by the American public to seize the opportunity to get access to protected areas.  Make no mistake.  The price of crude and the price of gasoline at the pump will not change just because Americans give oil companies access to protected lands.

Nancy Pelosi has shown that she is cool headed and a clear thinker during difficult times.  Congratulatios to Congresswoman Nancy Pelosi.

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