Why Bush lifted the coastal-drilling ban (and why it doesn’t matter)

About a month ago, Bush, McCain, and congressional Republicans were without any real ideas about energy policy. Pressed on what to do about gas prices, the president told reporters, “[T]here is no magic wand to wave right now.” In fact, the president repeated the line three times, as if to say, “Don’t ask me; I just work here.”

But that was before the GOP settled on coastal drilling as the answer to all of our problems. Never mind that we wouldn’t actually see that oil for at least a decade, and never mind that it would only fuel (pun intended) the addiction we’re supposed to break, Republicans were ready to do something, whether it made any sense or not.

Oddly enough, on June 18, Bush demanded that Congress lift the ban on coastal drilling. The president could have just overturned the executive order on the policy, but “he said he wouldn’t do that because he wanted Congress to act first.”

Today, Bush changed his mind.

Putting pressure on congressional Democrats to back more exploration for oil, President Bush Monday called on Congress to join him in lifting a ban on offshore drilling that has stood since his father was president.

There are two prohibitions on offshore drilling, one imposed by Congress and another by executive order signed by the first President Bush in 1990. The current president, trying to ease market tensions and boost supply, called last month for Congress to lift its prohibition before he did so himself.

“The only thing standing between the American people and these vast oil resources is action from the U.S. Congress,” Bush said in a statement in the Rose Garden. “Now the ball is squarely in Congress’ court.”

Bush added that “Americans are paying at the pump” because Congress hasn’t approved the White House’s drilling plan. Senate Minority Leader Mitch McConnell (R-Ken.) added, “Now the only thing standing between consumers at the pump and the increased American energy they are demanding is the Democrat leadership in Congress.”

I’ve long since given up trying to figure out whether these guys actually believe their own nonsense, but either way, this is just mind-numbing.

I think the Obama campaign’s statement hit most of the major points.

“If offshore drilling would provide short-term relief at the pump or a long-term strategy for energy independence, it would be worthy of our consideration, regardless of the risks. But most experts, even within the Bush Administration, concede it would do neither. It would merely prolong the failed energy policies we have seen from Washington for thirty years.

“Senator Obama believes Americans need real short-term relief, which is why he has proposed a second round of stimulus with energy rebates for working families. And over the long-term, Senator Obama understands that our national security and the survival of the planet demand a real strategy to break our dependence on foreign oil by developing clean, new sources of energy and by vastly improving the energy efficiency of our cars, trucks and our economy. He is ready to lead such a transformation,” said Obama campaign spokesman Bill Burton.

This is hardly worth debating anymore; it’s just so blisteringly obvious. Would coastal drilling lower the price of gas? No. Would any of this oil reach the pump before 2017? No. Is this even in the same neighborhood as a responsible energy policy? No.

Now, I understand why Republicans love this idea. First, it gives the appearance of taking an issue seriously, without having to worry about facts and stuff. Second, oil companies would love to do more coastal drilling, and Republicans love to make oil companies happy. Third, they know Dems have a reality-based outlook, which makes it easier for the GOP to scream, “Hey! Dems won’t let us drill and it’s hurting your family’s finances!”

But that doesn’t make this nonsense any more palatable. It’s a ridiculous policy, which the Republicans know is a ridiculous policy. It’s as simple as that.

And let’s not forget that there is about 4X as much offshore oil already available for exploration than is expected to be found in new exploration (minus California, which will never agree to offshore drilling).

Soooooo, if offshore drilling is the answer, why aren’t companies exploiting the reserves already available to them offshore? Answer: THEY DON’T HAVE THE EQUIPMENT. The 10 year estimate only works if oil companies go out and immediately explore, drill, pump, and ship oil off of other states, but that ain’t happenin’ if the companies aren’t capable of going after the significant offshore reserves already available.

  • Typo alert:

    “it would only fuel (pun intended) the addition we’re supposed to break”

  • It’s just more BS as usual from Bush. Gramm, McCain and Bush have committed economic treason by creating unregulated electronic oil futures trading markets which have at least doubled the price of oil and gas by speculation.

    ENRONed again…

    ENRONed again: this time by oil futures contracts speculators who are unnecessarily and very profitably driving up the price of crude oil and hence retail gasoline prices.

    We’re being ENRONed again. Curious as to why you are suddenly paying over four dollars a gallon for gasoline? No, it’s not due to “supply-and-demand,” no, it’s not due to “OPEC,” nor is it due to “peak oil.” It’s due to totally unregulated electronic oil futures trading in world markets. Check out the very lucid article that explains the unseen financial machinations in oil futures markets written by F. W. Engdahl on May 2, 2008, entitled, “Perhaps 60% of Today’s Oil Price is Pure Speculation.” It may be viewed at http://www.financialsense.com/editorials/2008/0502.html.

    In a nutshell, he suggests that the Bush Administration dropped the ball in January 2006, when they allowed totally unregulated electronic trading of oil futures contracts in New York. Previously these electronic trades had been made at the London Intercontinental Exchange (ICE) Futures Market. With that decision by the Bush Administration, all of the world’s oil prices were then opened to upward pressure from speculative futures contracts. In essence, oil futures contracts made by speculators, banks, hedge funds and pension funds all competed with real demand on the spot markets and had the effect of driving up both wholesale oil prices and retail gasoline prices. Speculators have made billions of dollars on their trading of oil futures contracts. All of their profits come right out of our pockets.

    Even with a stable oil supply, there is a slow worldwide increase in demand for oil, which creates a long-term upward pressure on oil prices. However, with the relentless saber-rattling and war-mongering by Bush and Cheney in the last several years, and the more recent war talks by McCain and the Israelis, the oil futures markets are rife with speculation and paranoia. This war talk keeps ratcheting up the prices on the oil futures contracts and hence the wholesale spot market prices. It is an endless spiral of greed and paranoia.

    As long as there is no tough and effective oversight of the electronic oil futures markets by the Bush Administration, the oil prices will climb endlessly. These oil prices will be quickly followed by hikes in the retail gasoline prices at the pump. The 60% speculation share of the $4.25/gallon gasoline price, is about $2.55/gallon, which is what we consumers are paying to these oil speculators as a “service fee.” Not a bad “fee,” since the speculators produce no usable goods or services…Just a few large greedy oil futures traders helping themselves to your gas money.
    Without this added-on oil futures “service fee,” you would be paying about $1.75/gallon for gasoline. Write, call or smoke-signal your Representatives and Senators today and suggest that they read the June 2006 report by The U. S. Senate Permanent Subcommittee on Investigations entitled, “The Role of Market Speculation in Rising Oil and Gas Prices.” Then demand that they investigate and then force the Bush Administration to firmly regulate the computerized oil futures contracts trading in New York, London and Dubai.
     
    These unregulated electronic oil futures trading markets should be completely shut down immediately. They serve no social purpose, they only enable corporate greed. These same greedy corporate speculators are probably also responsible for the rapid rise in the prices of basic food commodities, such as wheat, rice and corn. No one who is not prepared to accept physical delivery of one thousand barrels of oil on their front doorstop should be allowed to participate in the oil futures markets. Same goes for wheat futures, rice futures and corn futures.

  • “the addition we’re supposed to break”

    Is that addiction?

    We ship oil from Alaska to other countries (Japan I suspect) while we have to ship oil into America. Do you really think any more oil drilled out of ANWAR is going to America?

    As for lifting the off shore ban, I’d be more impressed if Governor Crist got Florida to say they would approve it first. Schwartznegger is certainly NOT going to approve if for California.

    And there are still 68 Million acres of drilling leases on Federal Lands the Oil Mafia hasn’t touched. Why not there first?

  • Obama: “…[offshore drilling] would merely prolong the failed energy policies we have seen from Washington for thirty years…”

    This is good. It puts the blame on Washington, not just the Republicans. Obama is not just running against McCrankyOldGuy, he’s running against the whores who dug us this hole we’re in.

    More, please.

  • I know their full of shit, you know their full of shit. They know their full of shit. But the rest of america? Not so much.

  • considering that 82% of all outer continental shelf areas “where petroleum is likely to be found” are already under lease .. and considering that the rig count is nearly 2000 rigs [all rigs both land and offshore].. and considering that nearly 1600 of those rigs are drilling for Natural GAS ..and only 397 are drillin’ for OIL ..

    what’s UP ??

    why aren’t we drillin’ for oil and NOT Natural GAS ???

    and .. if you read the oil boyz news … they’re smacking their lips at the prospect that the areas proposed to be freed up are more likely to have natural gas than crude .. how will it help ??

    it will help the oil boyz get the leases for fire sale prices.. and tha’s about the result ..

    the whole scam is a flim-flam …

  • Why shouldn’t we drill more in the US?

    Simple economics say that protecting the enviornment is less important when gas is $4 a gallon than when it is $1 a gallon.

    I am not sure what the answer is. I don’t know if we should drill or not.

    I do know that it makes more sense to drill in 2008 than it did to drill in 1998.

  • Why is exporting Alaskan oil a bad thing?

    If it costs less to ship Alaskan oil to Japan and ship Saudi oil to the US than it cost to ship Saudi oil to Japan then it makes sense to export Alaskan oil to Japan.

    The only reason for the US to export oil is if it makes sense economically. Passing a law that raises costs is a bad idea.

  • I have no real problem with drilling, as long as additional safeguards are put in place to prevent excessive spillage during hurricanes. At some point before the oil actually comes through, speculation will indeed lower the prices. I don’t know when that point is.

    I don’t have the source now, but oil has been subsidized over alternative energy sources at a ratio of 12:1 over the past 50 years. The real solution, obviously, is to start turning that around.

    Although we need to reduce the burning of fossil fuels and the dependence on foreign oil, the abrupt change in price hit the wrong people the hardest in this economy. Obama’s energy credit is interesting, and the remainder of his energy plan is pretty solid, but if the speculation on oil drilling will help the little people in any reasonable timeframe, I think that’s an okay idea, too. I just don’t know if it will.

  • It’s interesting that Repug demands (notice it’s always in the background?) to drill in ANWAR have continued unabated for years, and they’re starting to get a little apoplectic. I suppose some Bush contributor is demanding access more urgently. Unfortunately, judging by the e-mail I receive from various NASCAR-type people, the guns, god, and gays crowd believes the hype.
    After all, those pesky FACTS are just evil, liberal facts and are not believable.
    We should worry.

  • I cannot understand why no one, especially Congress, is talking or moving to eliminate the “Enron Loophole”. This was authored in 1990 by Phil Graham, former/current economic advisor to McCain. It allowed speculation in energy futures. Remember the rolling blackouts in CA? The guys who testified about this in committee said if that loophole was gone, gas prices would drop 25%. One said maybe 50%.
    Alternative energies will turn out the same way with the loophole intact. What the hell are these people thinking?

  • They want those drilling rights now, while their good friend, Mr. Bush, can still deliver. Big Oil knows that an Obama presidency means crash programs for alternative fuels—and Big Oil will go the way of the dinosaurs. Besides—I really want to live long enough to see Exxon “die ugly….”

  • “Senator Obama believes Americans need real short-term relief, which is why he has proposed a second round of stimulus with energy rebates for working families.”

    Sounds suspiciously like the gas tax holiday he roundly criticized. I’m sure there’s a fine distinction made somewhere in the plan to argue that it’s totally different, but forgive me for being sceptical when he accuses opponents of pandering then does the same thing.

  • The GOP and their media enablers are doing what they’ve always done, play the electorate for rubes. They expect to get away with it and if history is any guide it’s not a bad bet for them to make.

    Drilling in ANWAR is the holy grail, here in the 49th state. Twenty years ago the saying was, “Please GOD, give is another oil pipeline boom. This time we promise not to piss it away.”

  • America is the poor bedraggled junkie lying on the sidewalk writing in pain and Bush-McSame is the dealer leaning over with a needle saying “what you need are more drugs, my friend.”

    For the same amount of money they want to pour into drilldrilldrill, and in the same time period, we could take up T. Boone Pickens’ idea (no wild-eyed radical he) of putting up wind farms across the midwest, that would give us 28% of the energy needed to power cities and towns – that about 10 times as much energy as drilldrilldrill will produce, and it’s even the idea of a very conservative (actually far right) Republican!

  • Neil #8 – It makes less sense in 2008, not more. Every dollar invested in new drilling is a dollar lost to alternative energy. There is no present shortage of oil, although there will be in future years. Comments above, especially james #3 point out why prices are skyrocketing. Market manipulation and a falling dollar have an effect also. We shouldn’t be using up our meager supplies, either. We have only 3% of the world’s proven reserves, and the largest war machine on earth by far – this machine needs to be fed. Tanks don’t get many miles to the gallon, nor battleships. We may really need this machine someday, if we don’t do something about energy. And so far, we’re not doing a damn thing.

    The media should be demanding an answer from the oil companies as to why they aren’t finishing what’s on their plates (68 million acres of leased land lying untouched) before they ask for seconds and thirds. This is all so troubling that the media is encouraging this bogus, purely political and greed driven “solution.”

    The natural gas allocation in jkat #7 is interesting. I wasn’t aware of that. By the way, natural gas can be used to power automobiles. It’s a lot cleaner. UPS has been using alternative fuels for decades including natural gas and electric vehicles (long time ago) – see http://www.ups.com/pressroom/corp/press_releases/press_release/0,1088,4991,00.html

    I just don’t think democracy works in America anymore. We can’t begin to solve the most basic problems because of political power struggles and corporate greed. It is impossible for voters to make informed choices even if they did their homework, which they don’t. The media, press do not serve the people. They serve their masters, the corporations. The media delivers entertainment to us, not news or information.

  • Nice to see Neil “up-is-down” Wilson is back:

    Simple economics say that protecting the enviornment is less important when gas is $4 a gallon than when it is $1 a gallon.

    As usual Neil, you have your head someplace it’s not polite to point to. Do you take off your shoes and socks when counting beyond 10???

    It is more important to protect the enviroment in this situation, since economics have now created a situation where the alternatives to oil make economic sense, and can be brought on-line with more certainty and at lesser expense than drilldrilldrill will ever accomplish.

    You may now go back to breathing whatever it is in there that you’ve mistaken for oxygen.

  • I saw a woman who was billed as a McCain economic adviser who claimed that McCain changed his mind on opening up the Outer Shelves for drilling since it can now be done in an environmentally protective way. She then spouted off the usual nonsense, stating that “not a drop of oil was spilled” following Katrina and Rita. None, I guess, unless you count this:

    http://thinkprogress.org/2008/06/27/jindal-katrina-oil-spill/

  • America is the poor bedraggled junkie lying on the sidewalk writing in pain and Bush-McSame is the dealer leaning over with a needle saying “what you need are more drugs, my friend.” — Tom Cleaver

    Right on, Tom. When the addiction was affordable, there was no need to break it. Now that it’s life-threatening, there’s no time to break it.

    It’s one of the great fallacies of conservatism. Tax cuts are good when running a surplus, and necessary when running a deficit. We can’t leave Iraq because it’s unstable, and we have to stay when it’s stable in case it returns to instability. All reason bows to serve conservative ideology.

  • @17:On July 14th, 2008 at 4:26 pm, hark said:

    I just don’t think democracy works in America anymore.

    At least someone finally has the chutzpah to admit what environmentalism is all about.

  • For those wondering why existing leases have not been exploited, the reason is simple.

    It is not cost effective to do so. Many experts argue that we are either close to or have reached the point where ‘easy’ oil is no longer available. Most of those leases are in locations where exploring and drilling can not be done profitably even at $140 a barrel.

    Consider, one of the reasons the coastal bans were allowed to into effect in the first place (given the oil industry’s muscle they put up surprisingly little resistance in the 90s) and allowed to stay around with little to no effort to remove them is because up until now getting oil from coastal drilling was not cost effective with oil under $100 a barrel. Now with oil at $140 it is, hence the sudden push to open those areas for exploration and drilling.

    But remember, once again, off shore drilling is VERY expensive. So even if they find oil (high probability) and if they can get to it (again, probable) it will take a lot of time (the ten years previously sited) and a LOT OF MONEY. Meaning, to be cost effective, oil has to STAY ABOVE $140 a barrel. Which is why so many economists, both left and right, agree drilling has ZERO effect on prices.

    Now about those existing leases. Wait till oil hits $200 a barrel and will start to see the industry go after those deposits with the same results.

    As I’ve said before, the days of under $100 a barrel oil are most likely behind us.

  • Well if we had started drilling 8 years ago it would impact the price of oil about now. And we’ll still need oil in 2017. So it’s not a quick fix but it is a “fix”. Unfortunately it would screw up our environment. I say quit messing around with incentives etc.and nationalize the oil companies.

  • Bush, 2 years ago: “Americans are addicted to Oil (or, oil is like crystal meth).”

    Bush, today: “Got it! We need more crystal meth. I’m building a meth lab that will take 10 years to build.”

  • Tom: # 18

    Thanks for the compliment.

    Let’s assume that protecting one piece of property is worth $20. Somehow we know exactly what it is worth.

    Don’t tell me that everywhere the natural environment is priceless. If you believe that then there is no point in having any kind of discussion with you.

    So, if you thought that you could get 7 gallons of gas by hurting the environment it would be better to not drill when the price of gas was $2 a gallon; about even at $3 a gallon and a good investment at $4 a gallon.

    BTW, did you know that investing in research into alternative technology and drilling for oil are independent decisions?

    You can do neither, either or both.

    However, you can’t argue that oil is more valuable when it is $140 a barrel than a few years ago when it was $10 a barrel.

  • How nice of Bush to split another stick for this Republipals’ balls. No elected official from a state with shoreline will want to touch this turkey with a ten foot poll. You see, tourism dollars go directly to the business owners in the state. Money from oil goes … somewhere else.

    I don’t see anyone who wants to keep his cushy job going to his constiuents and saying “Sure I wrecked your income, your view, property value and your way of life, but at least oil will be cheaper in a couple of decades!” But that’s the choice the Chimperor has given them and I hope that they want to chew their tongues out for ever speaking in support of that smirking bastard.

    Here’s my tin foil hat question: If an oil company has a lease for a bit of land, could it bar anyone else from doing anything on that land, ie start an off-shore wind farm?

  • Of course this is entirely fitting from Naomi Klein’s new article:…

    “…This is the President as Extortionist in Chief, with gas nozzle pointed to the head of his hostage–which happens to be the entire country. Give me ANWR, or everyone has to spend their summer vacations in the backyard. A final stickup from the cowboy President….” (at Crooks and Liars)

    She goes on to discuss how rising gas and food prices are being used as shocks preparing us for the ongoing disaster capitalism used for Economic Globalization.

    The extremely wealthy are the only ones who will get richer and the rest of us will be in a begging position to give them all the legislation they need for just a few breaks on food and gas and our mortgages. Make no mistake…this is the money party at work here in this country who legally bribe our congress and promise future employment as lobbyists or employees of big corporations…them and their entire family.

    Good rule of thumb…if republicans want it enough they will lie and give the press their marching orders to spread the lie which should alert us to oppose it. Everything republicans have touched has become a disaster no matter how they try to spin it in their condemning, authoritarian manner. If Bush or McCain is for it…it’s wrong.

  • If wind farms were truly cost-effective, we would be building them faster than you could beleive. The fact is that they are not. The other factor to take into account is the flood of litigation that would have to be dealt with before companies even tried to drill offshore. What I mean is that even if Congress lifted the Congressional ban, none of the oil companies would start the drilling process, for the same reason that they aren’t going after the oil on the land they have: lawsuits. Why run the risk of investing all of that capital only to have a court tell you that you can’t do it after all? Any lifting of the ban that TRULY intends for meaningful, relatively rapid production would have to include immunity from pre-production legal action, and the only way to do that is to have huge, huge, huge penalties for any spills, leaks, etc. that occur once they are on-line. The upshot is that no matter which side of the issue you’re on, it’s gonna be really expensive to get to work until hydrogen powered cars are readily available, and there probably isn’t anything either candidate or party can do about it from here on out.

  • What a racket. The price of energy goes up and we’re willing to give away the farm to energy companies. Tax breaks, concessions, land — we keep throwing this stuff at them in the vain hope that fossil energy will get magically cheaper.

    In the West, natural gas drilling has gone stratospheric in the last 5 years. And the cost of natural gas has not decreased at all, rather, much to the contrary. All the talk of oil shale development, deep-sea drilling and exploiting oil in the Arctic Circle won’t make energy any cheaper either. These are the most expensive types of oil to develop and can only be exploited when the cost of energy is high enough — without oil futures speculators taking a thick cut of the value. All of these resources lack the infrastructure to develop them and will hit the market when kids that are now in first grade are old enough to drive.

    What will have greater short-term effects on the price of oil is political stability in Nigeria and decreased tensions in the Middle East. Screw both of those as long as Bush is in office. Every saber rattle against Iran sends the price of oil skywards. Don’t believe me? Watch the markets.

    By the way, that’s not our oil underneath US soil and in territorial waters. Once we lease it to the oil companies, it is theirs to disperse as they see fit. US oil, natural gas and refined gasoline exports have increased a lot in the last few years. So much for energy independence, if ExxonMobil or Shell has anything to do with it. Now that American’s are feeling pain, here we go again appeasing the oil giants with freebies. Won’t do any good. Never has.

  • Know this is not popular, but Jimmy Carter had a vision in the 70’s, he could see this coming, I remember him on TV sitting in the White House wearing a sweater, telling people to just turn thermostats down a couple of degrees, , and tried to get people to conserve energy, he gave credits for solar energy and for people who chose to have solar heating for their homes, and a multitude of other things.The Germans took it seriously and are way ahead of us now and on the way to independence. Many other European countries are too.

  • Anyone want to make this bet with me??

    I bet oil will go below $100 before it goes up to $200?

  • The current president, trying to ease market tensions and boost supply […] — MSNBC, via CB

    Um… no. I don’t think that’s the motivation. I think the motivation is to lock those leases to his buddies (and, in particular, to his daddy-substitute, Dead-eye Dick) “for ever an’ ever, amen”, while he’s still able to do it. I don’t think there’s any intention, on the part of the oil companies, to start drilling — or even exploring — tomorrow, if they do get those permissions. The intention is to get the leases free (or cheaply) now and then sit tight and watch the oil prices rise as other countries’ supplies dwindle. At which point, they will be able to dictate the prices not just at home but abroad. Same as the USSR used to do (and still does, to an extent). Same as Venezuela is doing even now.

    It’s not about the “common good”, *at all*.

    PS. Even if we did start drilling today (which is not possible, because there’s world-wide a shortage of equipment), successfully (again, not a “given”), there’s absolutely no reason for the countries which are now supplying us to get scared and lower their prices. All they have to do is lower their output and the prices remain high, because the commodity remains in short supply, while the demand for it remains high.

  • No more new lease areas
    Stop new drilling areas
    Never feed an addiction
    It is cold turkey time
    – now

  • The Rethugs are once again treating us all like morons, and may well get away with it. Certainly they have more than their share of morons in the GOP ranks who might believe all this nonsense, but even the most ignorant, not to say stupid, red voter can’t possibly believe that lifting the ban is going to make any difference in the foreseeable future. Then again, there is no bottom when it comes to the ignorance of the dumbed- downed masses. After all this solution comes from the moron-in-chief himself.

  • Personally I am against drilling for oil in ANWAR and/or offshore, for all the reasons already mentioned here…

    However…

    Why don’t the Democrats turn this around and say: Sure, you can drill in ANWAR and offshore, with the following conditions.

    – State specifically that any clean up from potential spills needs to be completely covered by the company responsible…. Since the Republicans say that wouldn’t happen, I don’t see any reason why they should disagree. Do you?

    – State specifically that any of their current oil leases will be lost if they don’t start exploring and drilling within 5 years. The Democrats would need to say that the leases wouldn’t be lost, but be back up for auction with the highest bidder getting the lease. That way their is an incentive to start exploring or don’t hoard leases. You either use it or you loose it.

    – State that all incentives now doled out to oil companies will be taken away, and that the subsidized amount will be given to companies exploring alternative energy sources. With a clause that the oil companies can’t apply for the subsidies because it would be a conflict of interest.

    – Demand that all car companies need to abide by NEW standards for gas mileage within 5 years, instead of pushing it decades into the future. The motors are already available. It should not take more than 5 years to retool factories.

    – Eliminate the ethanol import taxes currently paid. (42 cents a gallon)

    – I’m sure there are plenty more conditions that can be added to this energy policy.

  • Someone needs to point out to the media, that what we hear today from the administration in regards to oil/energy policy is pretty much the same rosy picture that was painted in regards to the Iraq war….

    The dumb base believed it then, they still believe it, and they will probably swallow the same optimistic, easy solution peddled now by the Bush gang.

    That is why the democrats should turn this around in their advantage instead of fighting the Republicans on this. Oil is not going to get any cheaper and the longer they wait on this, the harder it is going to get to deny the ‘dumb’ voters their wish of drilling.

    Instead of stalling on this, they should propose a new energy policy with a lot of strict rules and then see the Republicans vote against it because they don’t like the reasonable restrictions, as I mentioned in the previous post.

  • State that all incentives now doled out to oil companies will be taken away

    Demand that all car companies need to abide by NEW standards for gas mileage within 5 years, instead of pushing it decades into the future. The motors are already available. It should not take more than 5 years to retool factories.

    You guys are so funny.

    Does anyone on this site have the faintest ideas what “all incentives” are?

    Of course, all the motors are already available. Everyone knows that Toyota and Honda and BMW have all these motors hidden away. I wonder how GM and Ford are able to pay Honda to keep quiet about their great inventions since GM and Ford are losing so much money. Where does GM find the money to keep everyone quiet?

    Of course, we can meet those requirements today. It just means that everyone drives a car with only small engines in small cars.

    Maybe you are correct. Maybe the Tooth Fairy will drop the design for this great engine into the hands of Mercedes and they will take over the world.

    You know you can never trust the Germans.

    We taught them a lesson in nineteen eighteen
    and they have hardly bothered us since then

  • Anyone want to make this bet with me??

    I bet oil will go below $100 before it goes up to $200?

    I’ll bet everything you got.

  • Neil…. just because you only want to believe what fits your fantasy already, doesn’t mean reality isn’t any less real.

    VW currently have tested a new diesel motor with the potential of 300 miles to the gallon. I’m not saying that there will be a car next year that gets that kind of mileage. I’m saying that the technology exists to get better mileage than we have now.

    Sure if you want to drive a ‘big’ car and pay the $5.00/gallon for gas, I’m all for it. Actually I hope that gas prices go to $10.00 a gallon within a few years. (It is almost there in Europe – where I’m from) That’s the only way you get people like YOU to change their destructive habits.

    It’s unfortunate that poor people will probably suffer before you do, but then again, why would you care? That’s not your problem.

  • If they (government) are serious immediately demand that all cars sold in the US within the next couple of years get double the gas mileage they do now. Increase taxes 200% on all SUVs. Install wind farms. Do something – get serious about it.

  • If we want to cut gas usage and improve fuel economy then forget about CAFE standards.

    Immediately put a 50 cent a gallon tax on gas and raise it 10 cents a month for the next 4 years.

    I was in favor of a big tax on gas and a rebate on social security taxes since I talked to John Anderson about it in 1979

  • I talked to a guy visiting from Bulgaria the other day who said he can’t believe how panicked the American people are about $4.00 gasoline [it’s $8.00 in his country]. The other thing he can’t believe? How huge our cars are.

    In the highly unlikely event that drilling offshore and ANWR would lower the price of gas next year, then we’d just keep our big ass cars and drive to the hardware store every time we need a ten-penny nail.

    Rising fuel prices are the only thing that can possibly save us in the long run. A higher tax on gas [with a rebate for those who can’t afford it] would help even more. After all “freedom isn’t free!”

  • Of course the European countries have extraoridinary gas prices, it’s almost all taxes because they are socialist countries. That one is so easy to explain away it’s almost comical. We don’t want to be Europe, we have fought a FEW wars to not be Europe. We are better than Europe, at least politically and economically. Also, someone please tell me what kind of subsidies and tax breaks the oil companies are getting. The 4 biggest oil companies paid a 41% income tax rate last year, which is public information since they are all publicly traded companies. We are already subsidizing ethanol to the point where there are food shortages because farmers plant corn for ethanol instead of corn and wheat for food. Remember in the 80s when oil shale exploration was greatly deregulated? The price of oil went WAY down because the other producers knew that new product would be coming to market. Speculators only make money when they’re right, and someone should go take a look at a chart of oil prices and identify the date that the Dems took over Congress. Since that election, the price of oil has skyrocketed and the price of gas has more than doubled. These were not things that happened during the first 6 years of this administration, they only happened when the Dems took a majority, and has accelerated significantly since it has become apparent that Obama is the front-runner for POTUS. The markets are scared to death of the economically devastating policies that a Dem majority and an Obama presidency would put in place.

    Socialism is Facism by committee.

  • pfgr@14 echoed my thoughts.

    Subsidize energy and you discourage conservation. Energy use SHOULD hurt so we won’t waste any. I’d sooner look into increasing food assistance. Even THAT would puff up the money supply which feeds inflation.

    Love ya’ man, but leave the gimmicks to “Ace” McCain, Barak.

  • This development won’t fix the problem we are in now right off the bat, I KNOW. But we should have been doing this a long time ago so we aren’t importing more than the 70% of our oil, compared to the 24% we were importing in the 70’s. We have initiated our own demise, and it isn’t over yet.

    Thank you, “Dimocrats!”

    We are a Republic, not a democracy. And if you don’t know the difference you do not deserve to be in this country that our founding fathers fought and died to protect. Remember that.

  • Guess, what? Its an almost done deal. The proposal is this:
    1.Leave ANWR alone.
    2.No Dril in CA (the CA governor banded with three other Pacific governors to kep it off their coast), the ban stays in place over there.
    3.GA, SC, NC may “opt out”
    4.FLA MAY NOT OPT OUT
    5.Only the WEST COAST OF FLorida, but Jax may later open up. YAY FOR ME–I OWN WATERFRONT IN MIAMI, MY PROP VALUES WILL BE OKAY, maybe even go up since the West coast will be less attractive
    6.Here’s the fun part–PELOSI Has agreed to fast track it through the house, in order to have Obama put it behind him by November. MEANWHILE, the FLA Republicans are backing it, to make Florida the Sacrificial lamb so that McCain can have his other states. Basically, both parties have played a game to make sure that Floridians have no voice, no say, no influence.

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