This certainly illustrates the negative influence of the Dem Cngress. Viewed another way, it emphasizes the folly about not doing anything about ANWR and other energy policies during the period when we had both a Dem House and Dem Senate. Unfortunately, my Congressman was instrumental in keeping the ANWE=R drilling permission from coming to a vote in 2003. The Senate had already approved it, and I think Bush would have signed it.
My Congressman (otherwise a dependable conservative Republican vote) personally refused to bring it to a vote. I had a big argument with him at his Town Hall the following weekend and got nowhere. His motivation was to “use up everybody else’s oil before we use ours.” He had several other specious excuses too. Those wells would be producing now, if he had brought it to a vote. 100,000 Americans would be employed in the oil industry, and gas probably would be around $2.25 per gal.Our economy would look quite different, I think.
Well, he won’t be my Congressman much longer. He’s been re-districted out of my region.
We can spin it in our own views. The chart as others have, show a basic housing and commercial bubble. It's not like the Congress set the interest rates ala the Fed.
“use up everybody else’s oil before we use ours.”
That was the policy. I have heard “twenty years” before we drill our reserves for over 10 years, now.