The NO ZONE
The Bear on Jul 18 2008 at 8:30 am | Filed under: Energy Policy
Gas at $4.00+a gallon.Who’s to blame?
Thanks to the environmentalist lobby and it’s influence on Democratic legislators in Congress, the U.S. has, for decades, been prohibited from drilling for oil in placesthat we know contain billions of barrels of proven reserves.
Check out this map:
All of the red “NO” zones are places where the U.S., thanks to the Democratic Party, is prohibited from drilling for oil. The two green zones are where the U.S. is allowed to drill.
But wait, it gets better.
China, Cuba, Canada and others continue to drill off our shores where US companies are not allowed to drill because of Democratic policies!
Yes, that’s right. China and Cuba are actively exploring oil fields 50 miles from Key West, Florida while U.S. companies are barred from working in this area because of U.S. policy. So, instead of allowing the most environmentally responsible companies to ?operate there and increase our domestic supply, China, who has a dismal environmental record, is preparing to suck our close, lucrative oil reserves dry.
Unbelievable!!!
Failing to allow drilling in ANWR. We have, as President Bush noted, estimated capacity of a million barrels of oil a day from this source alone — enough for 27 million gallons gas and diesel. But Congress won’t touch it, fearful of the clout of the environmental lobby; as a result, you pay through the nose at the pump so your representative can raise campaign cash.
Refusing to build new ?refineries.The U.S. hasn’t built one since 1976, yet the EPA requires at least 15 unique ’boutique’ fuel blends ?that can be sold in different areas around the nation. This means that U.S. refinery capacity is stretched so tight that even the slightest problem at a refinery causes enormous supply problems and price spikes. Congress has done nothing about this.
Turning its back on ?nuclear power. It’s safe and, with advances in nuclear reprocessing technology, waste problems have been minimized. Still, we have just 104 nuclear plants — the same as a decade ago — ?producing just 19% of our total energy. (Many European nations produce 40% or more of their power with nuclear.) Granted, nuclear power plants are expensive — about $3 billion each. But they produce energy at 1.72 cents/kilowatt-hour vs. 2.37 cents for coal and 6.35 cents for natural ?gas.
Raising taxes on energy producers. This is where a basic understanding of economics would help: Higher taxes and needless regulation lead to less production of a commodity. So by proposing ‘windfall’ and other taxes on energy companies plus tough new rules, Congress only makes our energy situation worse.
These are just a few of Congress’ sins of omission — all while India, China, Eastern Europe and the Middle East are adding more than a million barrels of new demand each and every year. New Energy Department forecasts see world oil demand growing 40% by 2030, including a 28% increase in the U.S.
Americans who are worried about the direction of ?their country, including runaway energy and food prices, should keep in mind the upcoming election isn’t just about choosing a new president. We’ll also pick a new Congress.
If we elect a liberal Democrat as president in November and keep the same Democrat-controlled Congress, nothing will change… except for gasoline prices, which will keep going up.
Related
Investor’s Business Daily: Congress Vs. You
Energy: President Bush let the Democrat-led Congress have it with both barrels Tuesday, lambasting lawmakers for fiddling while the energy crisis burns. It was a well-deserved takedown of do-nothing lawmakers.
We’ve said it before, but we’ll say it again: This Congress is possibly the most irresponsible in modern history. This is especially true when it comes to America’s dysfunctional energy policy.
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