U.S. Rep. Ron Paul | OPEC |
OPEC
The Dollar And Our Current Account Deficit
May 16, 2000 2000 Ron Paul 37:11
* Since cartels never work, OPEC does not deserve credit for getting oil prices above $30 per barrel. Demand for equivalent purchasing power for the sale of oil, can. Recent commodity and wage price increases signal accelerating price inflation is at hand. We are witnessing the early stages in a sea change regarding the dollar, inflation, the stock market as well as commodity prices.
OPEC
Crazy For Kazakhstan
1 August 2001 2001 Ron Paul 69:10
In the center of this conflict and instability Kasakhstan has begun to prosper by working to build a modern economy, developing its vast natural resources and providing a base of stability in a very uncertain part of the world. With the discovery of the massive Kashagan oil field in the Kazak portion of the Caspian Sea, Kazakhstan is poised to become a major supplier of petroleum to the Western World and a competitor to Organization of Petroleum Exporting Countries (OPEC). It is critical that we continue to facilitate western companies’ investment in Kazakhstan and the establishment of secure, east-west pipeline routes for Kazak oil. This is the only way for Kazakhstan to loosen its dependence on Russia for transit rights for its oil and gas and secure additional, much needed, oil for the world market.
OPEC
The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:23
Though the new policy was even more deeply flawed, it nevertheless opened the door for dollar hegemony to spread. Realizing the world was embarking on something new and mind- boggling, elite money managers with especially strong support from U.S. authorities struck an agreement with OPEC to price oil in U.S. dollars exclusively for all worldwide transactions.
OPEC
The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:37
The agreement with OPEC in the 1970s to price oil in dollars has provided tremendous artificial strength to the dollar as the preeminent reserve currency. This has created a universal demand for the dollar and soaks up the huge number of new dollars generated each year. Last year alone, M3 increased by over $700 billion. The artificial demand for our dollar, along with our military might, places us in the unique position to “rule” the world without productive work or savings and without limits on consumer spending or deficits. The problem is it cannot last.
OPEC
Iran, The Next Neocon Target
5 April 2006 2006 Ron Paul 21:58
Though many Americans are starting to feel the economic pain of paying for this war through inflation, the real pain has not yet arrived. We generally remain fat and happy with a system of money and borrowing that postpones the day of reckoning. Foreigners, in particular the Chinese and Japanese, gladly participate in the charade. We print the money and they take it, as do the OPEC Nations, and provide us with consumer goods and oil. Then they loan the money back to us at low interest rates, which we use to finance the war and our housing bubble and excessive consumption. This recycling and perpetual borrowing of inflated dollars allow us to avoid the pain of high taxes to pay for our war and welfare spending. It is fine until the music stops and the real costs are realized, with much higher interest rates and significant price inflation. That is when outrage will be heard and the people will realize we cannot afford the humanitarianism of the neo-conservatives.
OPEC
High Taxes Cause High Gas Prices
17 July 2000 Texas Straight Talk 17 July 2000 verse 4 ... Cached
Consumers throughout the 14th district of Texas and Americans everywhere have felt the impact of higher gasoline prices during the past year. In response, our government officials have offered up the usual "solution": greater regulation of the oil industry. Administration officials have ordered an FTC antitrust probe, while vote-seeking politicians have condemned the oil industry and called for an investigation into collusion and price gouging. The truth is that costly federal taxes and regulations largely are to blame for high fuel prices, not convenient scapegoats like OPEC and the oil companies. I co-sponsored legislation in March that would immediately address the real problem: exorbitant gas taxes.
OPEC
High Taxes Cause High Gas Prices
17 July 2000 Texas Straight Talk 17 July 2000 verse 5 ... Cached
The obvious way to reduce the price that consumers pay for gasoline is to reduce fuel taxes. Federal taxes account for nearly 20 cents per gallon of gasoline sold. State and local taxes bring the total to 42 cents per gallon. Thus, while the cost of crude oil is roughly 70 cents per gallon (based on the current cost of $30 per barrel for OPEC crude oil), the "cost of politicians" is 42 cents! In fact, over 43 different taxes are imposed on the production and distribution of gasoline by various levels of government. The pre-tax price of a gallon of gasoline barely has changed in the last decade, hovering around 88 cents throughout the 1990s. The real increase has been in various taxes: in 1990 consumers spent only 27 cents per gallon in taxes (as opposed to 42 cents today). At the same time, EPA regulations (such as those requiring new reformulated gasoline) add significantly to the cost of fuel production. Analysts estimate consumers would save a whopping $67 billion in one year if gas taxes were eliminated. Clearly, we need to end the smokescreen and stop blaming oil companies for high prices that have been caused almost entirely by huge increases in fuel taxes.
OPEC
Gas, Taxes, and Middle East Policy
05 September 2005 Texas Straight Talk 05 September 2005 verse 7 ... Cached
Turmoil in the Middle East demonstrates that we cannot depend on OPEC nations to make up for our lack of domestic production. As recently as 2002, before we went into Iraq, oil cost less than $20 per barrel. Now it’s nearly $70 per barrel. Before the war, many predicted that a renewed flow of cheap Iraqi oil would benefit American consumers. The opposite has taken place. Iraqi oil production has come to a halt, and OPEC prices have risen steadily over the last few years.
OPEC
Gas, Taxes, and Middle East Policy
05 September 2005 Texas Straight Talk 05 September 2005 verse 8 ... Cached
Consider this: Iraqis can buy gas for as little as five cents per gallon, courtesy of American taxpayers! We’re talking about imported refined gas, because Iraqi refineries are not operating. Iraqi officials, using American tax dollars, buy this fuel from the Saudis or other OPEC nations at market rates. This subsidy to Iraq cost us nearly $3 billion in 2004 alone. What kind of foreign policy justifies using your tax dollars to subsidize gas prices in an oil-rich nation, while prices skyrocket in the U.S.? We must change our priorities and focus our resources on the American people. We cannot count on using military or political influence in the Middle East to keep gas prices low.
OPEC
A Free Market in Gasoline
31 October 2005 Texas Straight Talk 31 October 2005 verse 6 ... Cached
Most Americans agree that the American economy should not be dependent upon Middle East oil. Economist George Reisman, however, explains that our own domestic regulations make us slaves to OPEC: “Today, it is possible once again to bring about a dramatic fall in the price of oil- indeed, one even larger than occurred in the 1980s. And it could begin right away. All that is necessary is to abolish the U.S. government’s restrictions on domestic energy production inspired by the environmentalist movement.”
OPEC
A Free Market in Gasoline
31 October 2005 Texas Straight Talk 31 October 2005 verse 7 ... Cached
Reisman also explains how abolishing restrictions on coal production, natural gas production, and nuclear power would further reduce the OPEC stranglehold. By increasing the supply of these other energy sources, demand for oil would decrease and prices would drop.
OPEC
Deficts at Home, Welfare Abroad
07 November 2005 Texas Straight Talk 07 November 2005 verse 8 ... Cached
* $110 million for the Middle East Partnership Initiative, ostensibly for economic development, although the recipient nations include oil-rich Kuwait and Saudi Arabia. Why in the world are American taxpayers giving welfare to OPEC governments?
OPEC
High Risk Credit
20 August 2007 Texas Straight Talk 20 August 2007 verse 8 ... Cached
We’ve been headed in the wrong direction since 1971. This week marks the 36th anniversary of Nixon’s decision to close the gold window, which convinced me to seek public office to call attention to the runaway money train that would come in the aftermath of that decision. The temptation to print and spend money with impunity, like the temptation to max out lines of credit, is too strong to for government to resist. While Nixon brokered exclusivity deals with OPEC to prop up demand for the tidal wave of green pieces of paper the Fed pumped into the markets, the world is tiring of marching to the beat of our drum in order to secure their energy needs. The house of cards Nixon built is now on the verge of collapsing on our heads, and on our children’s heads.
Texas Straight Talk from 20 December 1996 to 23 June 2008 (573 editions) are included in this Concordance. Texas Straight Talk after 23 June 2008 is in blog form on Rep. Paul’s Congressional website and is not included in this Concordance.
Remember, not everything in the concordance is Ron Paul’s words. Some things he quoted, and he added some newspaper and magazine articles to the Congressional Record. Check the original speech to see.