Ball Squarely In Congress’ Court
The Bear on Jul 17 2008 at 8:28 am | Filed under: Energy Policy
Leadership: Policy paralysis in Washington keeps fuel prices high and the economy sluggish. The Democratic-controlled Congress refuses to act — which means the voters may act against it come November.
President Bush has begun a bully pulpit offensive demanding that Congress act regarding today’s high energy costs. We like what we hear.
“Now the ball is squarely in Congress’ court,” he said Monday, calling for “legislation to facilitate responsible offshore exploration.”
On Tuesday, the president went much further in showing his ex-oilman’s knowledge of the dynamics of the domestic oil industry and the global energy markets.
Drilling for more domestic oil, he said, would “change the psychology that demand will constantly outstrip supply.” Although “it’s going to take a while to get these reserves on line,” he added “it won’t take a while to send a signal to the world that we’re willing to use new technologies to find oil reserves here at home.”
The president described how the oil market currently sees that “supplies are going to stay stagnant while demand rises. And that’s reflected somewhat in the price of crude oil,” which affects the price at the pump.
It therefore makes sense “to say to the world that we’re going to use new technologies to explore for oil and gas in the United States — offshore oil, ANWR, oil shale projects — to . . . send a clear message that the supplies of oil will increase.”
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If this “lame duck” president succeeds in exposing this do-nothing Congress’ self-serving pettiness in the midst of so much consumer pain at the pump, things might not turn out as badly for Republicans this November as the pundits predict.
SideBear: Finally after (8) years Bush has found the bully pulpit, I like what I hear.
Related
Verbatim: President Bush And The Need To Change The ‘Psychology’ Of The Oil Market
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