This outta get everyone in Freepville fired up for the week, from;
http://online.wsj.com/article/SB121815293390922431.html?mod=todays_columnists
What they did was throw every vulnerable Democrat, and Mr. Obama, a life preserver.
That’s because the plan is a Democratic giveaway. New production on offshore federal lands is left to state legislatures, and then in only four coastal states. The regulatory hurdles are huge. And the bill bars drilling within 50 miles of the coast — putting off limits some of the most productive areas. Alaska’s oil-rich Arctic National Wildlife Refuge is still a no-go.
The highlight is instead $84 billion in tax credits, subsidies and federal handouts for alternative fuels and renewables. The Gang of 10 intends to pay for all this in part by raising taxes on . . . oil companies! The Sierra Club couldn’t have penned it better. And so the Republican Five has potentially given antidrilling Democrats the political cover they need to neutralize energy through November.
Sen. Obama was thrilled. He quickly praised the Gang’s bipartisan spirit, and warmed up to a possible compromise. Of course, he means removing even the token drilling provisions now in the bill. But he’s only too happy for the focus to remain on the Gang’s efforts, and in particular on the five Republicans providing his party its fig leaf.