Posted by: Sanity Rules | June 18, 2008

President Bush’s Energy Exploration Speech

 

Bush to Congress: Embrace energy exploration now

By H. JOSEF HEBERT, Associated Press Writer

WASHINGTON – With gasoline topping $4 a gallon, President Bush urged Congress on Wednesday to lift its long-standing ban on offshore oil and gas drilling, saying the United States needs to increase its energy production. Democrats quickly rejected the idea.

Great Idea!  It was a great idea 20 years ago.  Why did it take Bush this long to push for it with any real degree of urgency?  The left has been permitted a lenghty time to obstruct proper energy policy that is not only a matter of economic convenience, but a National Security threat.

“There is no excuse for delay,” the president said in a statement in the Rose Garden. With the presidential election just months away, Bush made a pointed attack on Democrats, accusing them of obstructing his energy proposals and blaming them for high gasoline costs. His proposal echoed a call by Republican presidential candidate John McCain to open the Continental Shelf for exploration

“Families across the country are looking to Washington for a response,” Bush said.

Not quite fair though to blame this all on the Democrats, the Republicans have not been making any noise and meekly avoiding the issue for decades.  Also the hypocritical Florida delegation insists on drilling for oil, but not off their coasts!

Congressional Democrats were quick to reject the push for lifting the drilling moratorium, saying oil companies already have 68 million acres offshore waters under lease that are not being developed.

This is a STUPID point to make.  Just because an area is open for lease, does not mean that there is a REALISTIC potential for oil in that area.   No doubt the oil companies have done their homework and have drilled in the areas with the most potential for return.  I know the concept of return on investment (ROI) is hard for the socialists to understand.  They blindly pour millions of tax dollars into failed programs that foster more failure.

House Speaker Nancy Pelosi called Bush’s proposals “another page from (an)… energy policy that was literally written by the oil industry — give away more public resources.”

In other words, let’s not listen to the expert geologists and companies that actually explore for oil as a profession.  I totally do not understand her “give away public resources” baloney these are leases that are PAID FOR, not GIVEN.  Exactly what is she actually saving the undersea “public resources” for?

Sen. Barack Obama, the Democrats’ presumptive presidential nominee, rejected lifting the drilling moratorium that has been supported by a succession of presidents for nearly two decades.

“This is not something that’s going to give consumers short-term relief and it is not a long-term solution to our problems with fossil fuels generally and oil in particular,” said Obama. Senate Majority Leader Harry Reid, lumping Bush with McCain, accused them of staging a “cynical campaign ploy” that won’t help lower energy prices.

In other words, continue Chuck Schumer’s idea of pushing the Arab world to produce more of their resources while we sit on ours.  Not exactly a good “long term solution” there Obama.  How pathetically hypocritical is this?

“Despite what President Bush, John McCain and their friends in the oil industry claim, we cannot drill our way out of this problem,” Reid said. “The math is simple: America has just three percent of the world’s oil reserves, but Americans use a quarter of its oil.”

Reid has a math problem here.  Maybe he needs Head Start.  3% of the worlds supply are producing 25% of our oil needs.  What could be more convincing an argument for finding and utilizing our own resources?

White House spokesmanTony Fratto retorted: “Anyone out there saying that something can be done overnight, or in a matter of months, to deal with high gasoline prices is trying to fool people. There is no tool in the toolbox out there that will lower gas prices overnight, or in weeks, or probably not even in months.”

Bush said offshore drilling could yield up to 18 billion barrels of oil over time, although it would take years for production to start. Bush also said offshore drilling would take pressure off prices over time.

18 Billion barrels is 1/3 of Russia’s reserves considering Russia has nearly three times the land mass.  Russia is actually utilizing it’s reserves and it is helping to power their economy.

Bush also proposed opening the Arctic National Wildlife Refuge for drilling, lifting restrictions on oil shale leasing in the Green River Basin of Colorado, Utah and Wyoming and easing the regulatory process to expand oil refining capacity.

How horrid, let’s not disturb the Polar Bears and Snail Darters!

With Americans deeply pessimistic about the economy, Bush tried to put on the onus on Congress. He acknowledged that his new proposals would take years to have a full effect, hardly the type of news that will help drivers at the gas stations now. The White House says no quick fix exists.

Still, Bush said Congress was obstructing progress — and directly contributing to consumers’ pain at the pump.

“I know the Democratic leaders have opposed some of these policies in the past,” Bush said. “Now that their opposition has helped drive gas prices to record levels, I ask them to reconsider their positions.”

The left won’t abandon any of their current policies because they don’t want to upset their political base.  Only the American people have the power to move congress and this is done with informed voters.  A resource that is truly depleted in the U.S.

Bush said that if congressional leaders head home for their July 4 recess without taking action, they will need to explain why “$4 a gallon gasoline is not enough incentive for them to act. And Americans will rightly ask how high gas prices have to rise before the Democratic-controlled Congress will do something about it.”

My guess is that people aren’t feeling the pinch enough yet.  They still blow by me on the side roads and on the freeways and I am in the slow car driving the speed limit.

Bush said restrictions on offshore drilling have become “outdated and counterproductive.” 

The current restrictions were the result of reaction to the 1969 Santa Barbara oil spill.  In nearly 40 years the technology has not only improved, but if that oil well had met California standards back in 1969, the spill would have never even occurred.

In a nod to the environmental arguments against drilling, Bush said technology has come a long way. These days, he said, oil exploration off the coastline can be done in a way that “is out of sight, protects coral reefs and habitats, and protects against oil spills.”

Congressional Democrats, joined by some GOP lawmakers from coastal states, have opposed lifting the prohibition that has barred energy companies from waters along both the East and West coasts and in the eastern Gulf of Mexico for 27 years.

On Monday, McCain made lifting the federal ban on offshore oil and gas development a key part of his energy plan. McCain said states should be allowed to pursue energy exploration in waters near their coasts and get some of the royalty revenue.

Obama retorted that the Arizona senator had flip-flopped on that issue.

Maybe Obama needs to “flip-flop” this time.

 

Educate yourself:

MPGhttp://tonto.eia.doe.gov/dnav/pet/pet_cons_psup_dc_nus_mbblpd_a.htm

 

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