Friday, June 20, 2008
Which Energy Plan Would Work?
From an editorial at IBD entitled: McCain Needs to Add ANWR to Energy Plan:
"...Gas is $4 a gallon. Oil is $135 a barrel and rising. We import two-thirds of our oil, sending hundreds of billions of dollars to the likes of Russia, Venezuela and Saudi Arabia.
And yet we voluntarily prohibit ourselves from even exploring huge domestic reserves of petroleum and natural gas.
At a time when U.S. crude oil production has fallen 40% in the last 25 years, 75 billion barrels of oil have been declared off-limits, according to the U.S. Energy Information Administration.
That would be enough to replace every barrel of non-North American imports (oil trade with Canada and Mexico is a net economic and national security plus) for 22 years..." (Read the whole piece)
Newt Gingrich is spearheading the 'Drill Here, Drill Now, Pay Less" campaign and petition (using Brazil as an example):
Apparently the Dems don't think things are bad enough yet and are dreaming of the government owning the refineries!
"...The itch to control the U.S. oil industry is spreading among Democrats in Washington, with Rep. Maurice Hinchey, D-N.Y., adding his voice to a recent threat to nationalize the energy companies' assets.
"We (the government) should own the refineries," Hinchey said today, according to a Fox News alert. "Then we can control how much gets out into the market."
WND earlier reported when U.S. Rep. Maxine Waters, D-Calif., during a grilling of oil executives by a panel of U.S. House members, threatened to nationalize the industry if executives were unsuccessful in bringing pump prices for gasoline down..." (source)
As I embark on a five state driving excursion tomorrow morning...I will be cursing the Sierra Club and their ANWR opposition. In 2001 the drilling was estimated to take 10 years --which means we'd be less than two years away and OPEC would be well aware of it...And the caribou can move a few miles.