Monday, July 14, 2008

Bush Lifts Offshore Drilling Ban

President Bush today lifted a ban on offshore drilling in the U.S., which his father enacted by executive order when he was president. Bush's actions are meaningless, however, unless Congress also acts to repeal a congressional ban still in effect. Sen. John McCain supports the move. Sen. Barack Obama opposes offshore drilling. The Democratic-controlled Congress is asking ,"What's the rush?" The U.S. has the largest untapped oil reserves in the world, yet we depend on foreign oil for most of our demand. With oil reaching close to $150 a barrel, the American economy is heading into a deep tailspin from which some think we may never recover. The largest bank failure in American history this past weekend is providing little confidence. Obviously, it will take many years to develop our untapped oil reserves, but the mere threat of new domestic oil development will put downward pressure on future oil prices.

Closer to home, three GOP candidates for Congress, including Mike Sodrel, Luke Puckett and Greg Goode, have headed north to Alaska to urge development of huge oil reserves in ANWR to meet our domestic oil needs. Not surprisingly, Democrats knocked the move. "The Republican Party has spent decades cozying up to the oil industry, and once again we are seeing their candidates put special interests in front of Indiana's interests," said Indiana Democratic Party Chair Dan Parker. "I find it bizarre that these three would choose to travel 3,500 miles to discuss energy policy with Big Oil rather than have an open discussion with voters in Indiana," Parker added. Really? Well, I find it bizarre that the Democratic-controlled Congress would intentionally wreck the U.S. economy and destroy the lives of millions of Americans simply to assure a good showing in this November's election. Americans overwhelmingly support the development of our nation's oil reserves, but Democrats think like their presidential candidate Barack Obama. They won't be happy until gas prices hit $10 a gallon. People are hurting and the Democrats love it--as long as they can count on the American people blaming Bush's party for the higher prices.

6 comments:

Zappatista said...

Is it that deep? Europeans have been paying far more, for far longer. Not to compare, as it isn't the same, but...I would hope that more people are worried about "OUR world" not just our gas prices. It isn't even about drilling, it's about how the government allows them to drill. The go in, and destroy everything around. Our world is already falling apart, by our own stupidity and arrogance.

Advance Indiana said...

"It isn't even about drilling, it's about how the government allows them to drill. The go in, and destroy everything around."

You obviously know nothing about modern drilling.

Downtown Indy said...

And another 1B barrels of oil, with 750B barrels of that deemed 'recoverable.' was just discovered in Iran.

Zappatista said...

Gary, I do understand it is vastly changed from the olden times, but the government doesnt enforce guidelines when there is no one around that cares(frozen tundra of Alaska?) We really take precautions (that are in place) seriously in mines too, huh? I get your point, I guess I just don't trust the government to actually enforce anything against the companies they roll over to in the morning.

MissouriDemocrat said...

I am all for getting off dependence on foreign oil. If drilling in Alaska or the heart of Washington DC does it, so be it. But finding better energy resources is the goal I hope. Make them get us a battery that runs a Lincoln Towncar for 6 months of hard driving for 49.95. Thats what we need.

Crossed said...

If Bush's economic policies had not devalued the dollar gas would still be $2.43 a gallon. And what about all the leases the the oil companies already have, but won't tap? And if we tap these new leases, how do we get this new oil to market when there are no new refineraries to refine it? Sounds like a gifthorse for the texas oil companies.