Posted on 08/06/2008 9:34:51 AM PDT by Delacon
To drill or not to drill? According to recent polls, two thirds of Americans think Congress should lift restrictions that prevent energy companies from exploring the outer continental shelf for oil and natural gas. President Bush, John McCain, most Republicans, and some Democrats support lifting the ban. Barack Obama, Nancy Pelosi, and Harry Reid find themselves on the wrong side of the drilling question, and it has thrown their party into disarray. All three Democrats are tangled on the same tripwire: Their friends in the environmental movement want to stop oil exploration. Unlike most politicians, who face public outcry when gas gets pricey, environmental groups are willing to argue that gas should to be more expensive in order to make alternative sources of energy seem cost-efficient by comparison. Its not just that they oppose new drilling; they also support a windfall-profits tax on the oil companies, new restrictions on current oil production, and the elimination of tax provisions that allow energy companies to write off the cost of expanding refinery capacity. By making gas cheaper, increased domestic oil production would prolong what environmentalists see as Americas harmful dependence on fossil fuels. These groups would oppose offshore drilling even if it had no direct impact on the environment. Obama echoed this thinking in June, when a reporter asked him if high gas prices could help wean the U.S. from its dependence on oil. Obama answered that they could, even though he would have preferred a gradual adjustment. That same month, he said that McCains drilling proposal would only worsen our addiction to oil and put off needed investments in clean, renewable energy. That was then. In July, Rasmussen released a poll showing that 67 percent of Americans support lifting the ban on offshore drilling, and now Obama appears to have reversed his position. If a careful, well-thought-out drilling strategy were attached to the kind of comprehensive energy policy that can bring down gas prices, he said in an interview with the Palm Beach Post, he wouldnt want to be so rigid that we cant get something done. Obamas reversal coincides with the news that Nancy Pelosi has given at-risk Democrats permission to publicly support offshore drilling, freeing them to take the popular position while she blocks any efforts to lift the ban. Pelosi refused to allow any votes on drilling before adjourning the House for a five-week August vacation. A number of House Republicans stayed in Washington to hold protest sessions, arguing that Congress shouldnt be taking a vacation at a time when high gas prices have caused many Americans to cancel theirs. In the Senate, Harry Reid (Oil makes us sick, . . . Its ruining our world. Weve got to stop using fossil fuels) also blocked energy legislation for fear that Republicans would offer drilling amendments and force Democratic senators (such as Barack Obama) to commit to positions. While their counterparts in the House are keeping the issue alive in Washington, Republican senators headed home to spend all five weeks talking about energy. In both houses of Congress, the Democratic leadership has offered gimmicky solutions to distract the public from the drilling issue. First, Democrats argued that the oil companies had already leased millions of acres of public land that they werent using to produce any oil. That effort foundered when the oil companies pointed out that they werent producing oil on this land because they hadnt found any when they explored it. Then, Democrats pointed the finger at commodity traders, accusing them of driving up the price oil through excessive speculation. This effort didnt gain any traction, either. Traders dont conspire to drive up prices; they try to anticipate movements in supply and demand so of course, as U.S. demand has slowed (and as an increasing number of U.S. policymakers have argued for increasing supply), the price of oil futures contracts has fallen. The latest half-baked idea comes from a gang of ten senators five Republicans, five Democrats who have offered a compromise that would lift the ban on offshore drilling in exchange for $20 billion in new federal spending on alternative sources of energy. The list ag-friendly guys like Saxby Chambliss and Kent Conrad, corn-staters like Ben Nelson and John Thune smells of ethanol. The compromise bill includes $2.5 billion for biofuel research and billions more in incentives for automakers to make cars with ethanol-burning engines. There might be a smart way for Washington to subsidize research into alternative energy, but this isnt it. There is a simpler solution. The congressional ban on drilling has to be renewed each year, and the current ban expires in September, so congressional Republicans and President Bush should fight to stop the bans renewal. The Democrats are backpedaling like mad. Their presidential candidate doesnt have a coherent position and has resorted to Carter-esque lectures on energy conservation. Meanwhile, the speaker of the House is telling vulnerable members of her caucus to support lifting the ban. The Democrats find themselves on the wrong side of the most important issue to Americans right now. Now is not the time for a compromise. Its time to keep applying pressure.
My eyes!
ping
To format, or not to format...
does anyone have a link(s) to articles, etc that state the US has more oil than the middle east?
TIA
Sorry everyone, my html didn’t work the way I wanted it to.
http://www.itwire.com/content/view/18986/1066/1/1/
Paragraph at the bottom of 2nd page explains the confusion. USA, if you include Oil Shale, has the worlds largest oil reserves. However, they do not count that. They only count what they can get right now using existing technology.
Keep Up the Pressure
By the Editors
To drill or not to drill? According to recent polls, two thirds of Americans think Congress should lift restrictions that prevent energy companies from exploring the outer continental shelf for oil and natural gas. President Bush, John McCain, most Republicans, and some Democrats support lifting the ban. Barack Obama, Nancy Pelosi, and Harry Reid find themselves on the wrong side of the drilling question, and it has thrown their party into disarray.
All three Democrats are tangled on the same tripwire: Their friends in the environmental movement want to stop oil exploration. Unlike most politicians, who face public outcry when gas gets pricey, environmental groups are willing to argue that gas should to be more expensive in order to make alternative sources of energy seem cost-efficient by comparison. Its not just that they oppose new drilling; they also support a windfall-profits tax on the oil companies, new restrictions on current oil production, and the elimination of tax provisions that allow energy companies to write off the cost of expanding refinery capacity.
By making gas cheaper, increased domestic oil production would prolong what environmentalists see as Americas harmful dependence on fossil fuels. These groups would oppose offshore drilling even if it had no direct impact on the environment.
Obama echoed this thinking in June, when a reporter asked him if high gas prices could help wean the U.S. from its dependence on oil. Obama answered that they could, even though he would have preferred a gradual adjustment. That same month, he said that McCains drilling proposal would only worsen our addiction to oil and put off needed investments in clean, renewable energy.
That was then. In July, Rasmussen released a poll showing that 67 percent of Americans support lifting the ban on offshore drilling, and now Obama appears to have reversed his position. If a careful, well-thought-out drilling strategy were attached to the kind of comprehensive energy policy that can bring down gas prices, he said in an interview with the Palm Beach Post, he wouldnt want to be so rigid that we cant get something done.
Obamas reversal coincides with the news that Nancy Pelosi has given at-risk Democrats permission to publicly support offshore drilling, freeing them to take the popular position while she blocks any efforts to lift the ban. Pelosi refused to allow any votes on drilling before adjourning the House for a five-week August vacation. A number of House Republicans stayed in Washington to hold protest sessions, arguing that Congress shouldnt be taking a vacation at a time when high gas prices have caused many Americans to cancel theirs.
In the Senate, Harry Reid (Oil makes us sick, . . . Its ruining our world. Weve got to stop using fossil fuels) also blocked energy legislation for fear that Republicans would offer drilling amendments and force Democratic senators (such as Barack Obama) to commit to positions. While their counterparts in the House are keeping the issue alive in Washington, Republican senators headed home to spend all five weeks talking about energy.
In both houses of Congress, the Democratic leadership has offered gimmicky solutions to distract the public from the drilling issue. First, Democrats argued that the oil companies had already leased millions of acres of public land that they werent using to produce any oil. That effort foundered when the oil companies pointed out that they werent producing oil on this land because they hadnt found any when they explored it.
Then, Democrats pointed the finger at commodity traders, accusing them of driving up the price oil through excessive speculation. This effort didnt gain any traction, either. Traders dont conspire to drive up prices; they try to anticipate movements in supply and demand so of course, as U.S. demand has slowed (and as an increasing number of U.S. policymakers have argued for increasing supply), the price of oil futures contracts has fallen.
The latest half-baked idea comes from a gang of ten senators five Republicans, five Democrats who have offered a compromise that would lift the ban on offshore drilling in exchange for $20 billion in new federal spending on alternative sources of energy. The list ag-friendly guys like Saxby Chambliss and Kent Conrad, corn-staters like Ben Nelson and John Thune smells of ethanol. The compromise bill includes $2.5 billion for biofuel research and billions more in incentives for automakers to make cars with ethanol-burning engines. There might be a smart way for Washington to subsidize research into alternative energy, but this isnt it.
There is a simpler solution. The congressional ban on drilling has to be renewed each year, and the current ban expires in September, so congressional Republicans and President Bush should fight to stop the bans renewal. The Democrats are backpedaling like mad. Their presidential candidate doesnt have a coherent position and has resorted to Carter-esque lectures on energy conservation. Meanwhile, the speaker of the House is telling vulnerable members of her caucus to support lifting the ban.
The Democrats find themselves on the wrong side of the most important issue to Americans right now. Now is not the time for a compromise. Its time to keep applying pressure.
thank you very much. so we’re 14th without shale? At what point does shale become viable enough to count/drill for?
Here.....Put on a pair of these < >, with a p. lol
I believe that drilling will not be allowed to increase much since these reserves have already been used as collateral against the national debt. It doesn’t matter which party has control the bankers ultimately will control the movement of assets.
Ok. What reserves? The Strategic Reserve? Oil that hasn't even been drilled? What?
Untapped mineral reserves.
Look, you are new and making statements with nothing to back it up. Got any sources
paragraphs are your friends
Let me give you a very rough idea of what we're dealing with here. There is an estimated 800 BILLION barrels of oil in the Rocky Mountain states alone. (Wyoming, the Dakotas and Montana.) There are huge deposits off both coasts. I have no idea what the deal is in Texas, but it's not bad. So let's say there is a total of roughly 1 TRILLION barrels of oil just in the lower 48.
That's more than the entire Middle East has ever had.
Now hear this: There's more oil in the north than there is down here. So we're looking at about 2 TRILLION barrels of oil and a huge amount of natural gas that belongs to US.
If I'm not mistaken, that's enough to power the US for the next 300 years without taking into consideration developing alternative energy sources.
Now imagine this: Americans drilling for American oil. The oil industry already pays well. Can you imagine the jobs that would be created for this economy? We're already the richest nation on the planet, we're the world's greatest superpower and now we can be the new Saudi Arabia.
Sounds greedy, doesn't it? Not at all. When the US thrives, the world thrives. As we have a consumer economy, any nation that makes things to sell us would be thriving as well. All this would be done by taking only the new jobs into consideration.
Worried about Social Security for you and your children? You wouldn't have to. Either the nation would be rich enough to keep the Ponzi Scheme going or your kids would be rich enough to pay for themselves.
The only thing that could ruin this is Socialism. If capitalism wins this fight and keeps Socialism at bay for a few more decades, the human race would enter a new area of plenty and do very well.
Why should there be any but the barest restrictions on exploring for and producing domestic oil reserves? What makes it OK to drill the rest of the planet and not the U.S.? Is this an extension of the liberal elitist mindset?
Simple. Have the US Energy Department offer a $500,000,000 prize for the 1st inventor who invents, patents and and brings to market a viable Oil Shale Extraction process.
The savings in Defense Spending alone from not being addicted to Middle East Oil will pay for that 100 times over.
Public Debt is not like private debt. It is not secured debt. It is paid for by selling bonds, not by offering collateral. Your notion would make a clever book of fiction, it is not real world.
Yep. You absolutely nailed it there.
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