You Can Help Free Our Energy Today
The Bear on Sep 29 2009 at 8:00 am | Filed under: Energy Policy
With the nation’s unemployment rate creeping ever closer to 10%, it is not surprising that Americans continue to rank the economy as the most important issue facing the country right now. Recognizing the link between a troubled economy and energy prices, last year 1.4 million Americans signed the “Drill Here, Drill Now, Pay Less” petition demanding that the federal government enact policies that will lower our nation’s energy costs. And Congress responded by ending our nation’s quarter-century ban on oil and natural gas drilling off the Atlantic and Pacific coasts.
But this was just the first step Americans needed to take to free our energy from the myriad of bureaucratic restriction the enviro-left has placed between consumers and cheap energy. Before the development of our natural resources can begin, the Department of Interior must approve a five-year leasing plan detailing how federal sale of oil and gas leases in the offshore waters will take place. The case for developing our own natural resources is strong. An estimated 19 billion barrels of oil–nearly 30 years of current imports from Saudi Arabia–as well as substantial natural gas reserves are estimated to lie beneath these restricted areas. According to a 2008 Center for Data Analysis study, increasing domestic oil production by 1 million barrels per day would generate 128,000 jobs. At 2 million barrels per day, that figures jump to 270,000.
Unfortunately the Obama administration is allowing their “Green Job” fantasies to get in the way of cold hard facts and real American jobs. At an Interior Department field hearing this April in Atlantic City, Secretary Ken Salazar claimed ocean winds along the East Coast can generate 1 million megawatts of power, roughly the equivalent of 3,000 medium-sized coal-fired power plants, or nearly five times the number of coal plants now in the United States, according to the Energy Department. This is pure fiction. In 2007 the United States produced 23.48 quadrillion BTUs of power from coal. Wind produced .319 quadrillion Btus. Salazar wants the American people to believe we can increase our wind power production by 7,300%. That is unrealistic.
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All the legislation in the world won’t stop the lawsuit brigade. Until we get tort reform and get control of all these special interests tying things up with frivolous lawsuits, you’ll never get anyone to seriously consider drilling for known deposits, much less exploration.