Republicans Could Tap a Gusher of Support Off the California Coast
The Bear on Jul 23 2008 at 8:28 am | Filed under: Energy Policy
California’s politicians have long opposed efforts to tap that state’s (and other states’) vast offshore oil reserves. Nancy Pelosi controls the legislative calendar from her perch as Speaker of the House and can decide which legislation sees the light of day. Welcome to democracy in action.
Using the her power as Speaker, she has prevented a vote on expanding drilling from even reaching the floor of the House. She has disregarded the wishes not only of millions of Americans but also those of her fellow Democrats — particularly the so-called Blue Dog Democrats — who wish to tap our nation’s energy wealth to help our economy, gas prices, trade balance, and national security. She is the veritable epicenter of anti-drilling power politics.
Now we know one of the reasons Congress is held in such low esteem.
[…]
The Minerals Management Service said that of the estimated 18 billion barrels of oil in off-limits coastal areas, almost 10 billion are off the coast of California.
“California could actually start producing new oil within a year if the moratorium were lifted,” the Sanford C. Bernstein report said, because the oil is under shallow water, has been explored and drilling platforms have been there since before the moratoria.
[…]
Read more from The American Thinker
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According to CQ Politics:
“House and Senate Democratic leaders plan to bring energy legislation to the floor this week, using procedural tactics designed to block Republicans from offering amendments that would lift the drilling ban.” [Emphasis Mine]
“In the Senate, Democrats hope to take up as early as Wednesday a still-un-drafted bill that would tighten regulation of speculation in energy futures, which some lawmakers contend adds as much as 30 percent to the price of crude oil. [Emphasis Mine]
“Majority Leader Harry Reid , D-Nev., said he would block any effort to propose amendments to the bill that did not deal directly with the speculation issue.”
If liberals in Congress want to commit political suicide, that’s one thing. But we can’t let them take down the entire nation as well.
Source: Center for Individual Freedom
CFIF.org has a fax service to send a message to Congress here…YOUR BLAST FAX MESSAGE
One Response to “Republicans Could Tap a Gusher of Support Off the California Coast”
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I have bad news for you…speculation SUBTRACTS from the price of oil. Imagine how much it would cost if it was an illiquid market…you’d have to purchase ahead of time, would be subject to shipping charges, outages, supply interruptions just because a FEW people decided the price of oil…geesh, talk about the strawman argument.