Gingrich: Talkin' TWO DOLLAR Gasoline

Reaganite Republican ^ | February 14, 2011 | Reaganite Republican

[Reaganite Republican]

Newt Gingrich spoke at a Los Angeles fundraiser yesterday, where the focus was 'bringing down the price of gas', always a lively topic out there in ten-lane-freeway land.

Key to the market-based Gingrich energy strategy would be accelerated domestic oil exploration: 'We know how to get gasoline prices back down: produce more gas' said the Former House Speaker. 

'Join us in a campaign to drill here, drill now, pay less and let’s get back to $2 a gallon gasoline with Gingrich, not $5 a gallon gasoline with Obama.'

Typically, the ideas Newt puts-forth are simple and straightforward... just common-sense, really:

Gingrich Energy Plan

1. Remove bureaucratic and legal obstacles to responsible oil and natural gas development in the United States, offshore and on land.
2. End the ban on oil shale development in the American West, where we have three times the amount of oil as Saudi Arabia.
3. Give coastal states federal royalty revenue sharing to give them an incentive to allow offshore development.
4. Reduce frivolous lawsuits that hold up energy production by enacting loser pays laws to force the losers in an environmental lawsuit to pay all legal costs for the other side.
5. Finance cleaner energy research and projects with new oil and gas royalties.
6. Replace the Environmental Protection Agency, which has become a job-killing regulatory engine of higher energy prices, with an Environmental Solutions Agency that would use incentives and work cooperatively with local government and industry to achieve better environmental outcomes while considering the impact of federal environmental policies on job creation and the cost of energy.

Sadly, the warped 'progressive' movement has beaten our oil industry to the ground at every opportunity for over three years now... and for what? Four-to-five dollar a gallon gas still hasn't got anybody buying Chevy Volts, you idiots... they're just spending less money everywhere else in the economy while they rumble -and grumble- down the road in their V-8 Grand Cherokee.

In LA yesterday Newt also repeated his previously-stated intention to dismantle the EPA and replace it with a structure that actually takes into account the interests US industry, energy producers, and consumers (for a change)... more of that 'common sense' we were just talking about, and how refreshing indeed it would be to have a president who knows what country he's supposed to be helping.

So,  the average US motorist drives about 15,000 miles a year, and the national average gas price right now is $4.09. If your car gets 20 mpg, that's over $3000 annual fuel cost.

That means that a fulfillment of Gingrich's $2.00 gasoline pledge would save the average driver an easy $1500/year ($125/mo CASH in your pocket every month). Hey, do your own math at over $2.00 savings per gallon... for some of you lead-foots this will amount to a small fortune. Ya think that kind of (ongoing) savings might help the country's crippled economy?

Note that this (free) improvement in ALL our standards-of-living will be provided courtesy of the American free-market capitalist system (not still-more gub'ment cheese), as the supply side of the US energy industry is revitalized with an energy program that strengthens and enriches this country... not constrains and impoverishes, as the lunatic Obama regime has done 

-and is doing- to us.

It can happen again...

Meanwhile out there at the front, it's still Newt Gingrich

-not Ricky 19-Point-Shellacking Santorum-

who's got Mittens and BHO still looking over their shoulder...

LATimes   Newt2012   NYT   Maggie's Notebook

Starting a RR ping list for any interstested, pls FReepmail @ Reaganite Republican... TIA!

[Georgia Girl 2]

“Yes it is pandering just like the 40 % rollback of Obama’s policies on the first day in office. unrealistic. but good ideas”

Its not pandering at all. Rolling back executive orders can be done instantly and that is what Newt plans to do. Any agency that was created by an executive order (EPA) can be closed by executive order. Mitt and Rick cannot think of even one agency they can bear to part with. Newt will get rid of Dept of Energy and Dept of Educ for starters.

If you like the job Boehner and McConnell are doing you will love Romney and Santorum.

[painter]

And how does Newt plan to prevent OPEC from regulating production to keep price where they want them?

When we produce as much oil as OPEC.

[eyeamok]

Not sure why you would think I am a “Romney plant”?? But don’t let your emotions get in the way of fact, what I posted with regards to Refined Motor Fuel is absolutely 100% factually correct, If you really think I am a Romney plant, maybe you shouldn’t be taking bongloads at 5 in the morning or the least you could do is share with the rest of us. Now stick to the issue at hand, We do not need more Gasoline at this point in time, we have way too much and people are not buying gasoline at the rate we normally would see in a vibrant economy, that is why our EXPORTS ARE AT RECORD LEVELS (high) and our USAGE is ALSO AT RECORD LEVELS (Low). All of this can be verified with very little effort on your part, You do not even have to leave this site to find the answers but you must put the Bong down first and then actually open your eyes.

[Harlan1196]

And is that remotely possible?

Are we really going to out produce Saudi Arabia, Iraq, Iran, Kuwait, Venezuela and the UAE? Plus all the non- OPEC countries like Russia, Norway and Mexico?

We are the number 3 oil producing nation in the world. We are also the number one oil consuming nation by a huge margin (3 times the consumption of China). Hence we also the number one importer of oil in the world by a huge margin.

We would have to double our production to reduce our imports to zero. Which means we would be producing twice what Saudi Arabia is producing right now. We would have to TRIPLE our production to equal just OPEC’s production.

[Notary Sojac]

America’s oil shale reserves are enormous, totaling at least 1.5 trillion barrels of oil.

That's true. But is that oil extractable at a cost which is consistent with $2 a gallon gas? I would need some convincing.

[CharlesWayneCT]

Gasoline prices did drop momentarily, as you note, down to $1.61 (I think I paid $1.49 at one point). We know how to do it — crash the world economy. Not sure that’s a good idea now.

Oil prices have to come down significantly to get to $2 gasoline. We could produce everything we know about in the U.S., and wouldn’t get $2 gasoline. In fact, if oil prices were low enough to get $2 gasoline, it wouldn’t be economically feasable to produce new oil in this country. Certainly not mile-deep deepwater wells in the gulf, or shale oil conversions in the midwest.

THe only way I can think of to get to $2 gasoline is if I take all my money and invest it in oil companies. Last time I invested in an oil stock, the price dropped to 95 cents. :-)

[Marguerite]

“But is that oil extractable at a cost which is consistent with $2 a gallon gas?”

How would you know if you don’t try it?

The shale oil is NOT the only source of energy unused in the US. If the drilling was freed from Obama’s diktats, hundreds of million barrels could be produced, making America independent of energy imports and who knows, one day even an energy exporter.

The free market will play its role. More American produced oil on the market will lower the gas price. Simple Simon.

[Notary Sojac]

More American produced oil on the market will lower the gas price.

I agree, however I would never promise that it would go down to $2, for lots of reasons already posted up-thread.