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Drill, Coast Haste
Investor's Business Daily (IBD) ^ | May 23, 2008 | Investor's Business Daily Editorial

Posted on 05/24/2008 7:55:08 AM PDT by Clairity

Energy Security: With the prospect of an oil shortage and $12 gas, the energy crisis is turning into a national emergency. One solution: Give states the option to develop offshore tracts.

Uncle Sam bans states from drilling in the Atlantic, Pacific and eastern Gulf mainly to protect the environment. Some 85% of the U.S. coastline is off-limits to energy production - including huge reserves off Florida's coast, which China is exploiting in Cuban waters.

To change that, a lawmaker is offering a novel idea. Rep. Sue Myrick of the House Energy and Commerce panel wants to let coastal states decide whether drilling is environmentally risky. She has introduced a bill that would give coastal states that want offshore drilling the power to opt out of the Interior Department's offshore restrictions.

And politicians concerned about America's energy security ought to do a better job educating the public with the facts. For example:

- Less than one one-thousandth of a percent (0.001%) of the 7 billion-plus barrels of oil that Washington has allowed to be produced offshore over the past 25 years has been spilled, according to the Interior Department.

- A whopping 63% of petro pollution in North American seas comes not from offshore rigs, but from natural seepage from the sea floor. Source: National Academy of Sciences.

- There hasn't been a major oil spill from an offshore well since 1969 even though rigs since then have been lashed by Katrina and other major hurricanes.

(Excerpt) Read more at investors.com ...


TOPICS: Business/Economy; Editorial
KEYWORDS: 110th; 2008; coastalenvironment; congress; drill; drilling; energy; energyindependence; energysecurity; environment; offshore; offshoreoil; oil
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1 posted on 05/24/2008 7:55:09 AM PDT by Clairity
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To: Clairity
...the U.S. coastline is off-limits to energy production - including huge reserves off Florida's coast, which China is exploiting,,,

Yeah, not drilling is helping the environment, cuz China knows how to do it better, right? Oh, and they will sell us the oil just as cheap as we could produce it, right?

Effing idiots.

2 posted on 05/24/2008 7:59:12 AM PDT by Principled (Vaporize the "Divide and Conquer" taxes - Have everyone pay the same marginal rate!. NRST!)
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To: Clairity

What? States Rights? OMG!


3 posted on 05/24/2008 8:00:46 AM PDT by Eurale
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To: Clairity

Well, we could drill our own oil, just off the shores of Texas, Florida, California or the eastern coast ....

or, we could wait and simply buy the oil from China, Venezuela, Mexico, Cuba and Russia who are drilling off the same shores, just 12 or more miles off the shore in international waters. Because, as everyone knows the cause of all the world’s pollution is the USA, every other country is far more ecologically conscious than the evil Americans. < /sarcasm off>


4 posted on 05/24/2008 8:00:51 AM PDT by Hodar (With Rights, come Responsibilities. Don't assume one, without assuming the other.)
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To: Clairity

Soon, we will have Cuban gas wells off the coast of Florida while we continue to prohibit American gas producers from doing so. Russia will extend its control of Arctic fields while Alaskan oil production continues to decline. And the Democrats will achieve their goal of destroying the economic sovereignty of the United States. Just ask Maxine Waters.


5 posted on 05/24/2008 8:00:56 AM PDT by Hoodat (Bull Moose Party Member)
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To: Clairity

Read this and I think you will agree the oil industry has already been Nationalized in the US;

It was common in those days, as it is in ours, to identify the Communists as leftist and the Nazis as rightists, as if they stood on opposite ends of the ideological spectrum. But Mises knew differently. They both sported the same ideological pedigree of socialism. “The German and Russian systems of socialism have in common the fact that the government has full control of the means of production. It decides what shall be produced and how. It allots to each individual a share of consumer’s goods for his consumption.”

The difference between the systems, wrote Mises, is that the German pattern “maintains private ownership of the means of production and keeps the appearance of ordinary prices, wages, and markets.” But in fact the government directs production decisions, curbs entrepreneurship and the labor market, and determines wages and interest rates by central authority. “Market exchange,” says Mises, “is only a sham.”

Mises’s account is confirmed by a remarkable book that appeared in 1939, published by Vanguard Press in New York City (and unfortunately out of print today). It is The Vampire Economy: Doing Business Under Fascism by Guenter Reimann, then a 35-year old German writer. Through contacts with German business owners, Reimann documented how the “monster machine” of the Nazis crushed the autonomy of the private sector through onerous regulations, harsh inspections, and the threat of confiscatory fines for petty offenses.

“Industrialists were visited by state auditors who had strict orders to examine the balance sheets and all bookkeeping entries of the company or individual businessman for the preceding two, three or more years until some error or false entry was found,” explains Reimann. “The slightest formal mistake was punished with tremendous penalties. A fine of millions of marks was imposed for a single bookkeeping error.”

Reimann quotes from a businessman’s letter: “You have no idea how far state control goes and how much power the Nazi representatives have over our work. The worst of it is that they are so ignorant. These Nazi radicals think of nothing except ‘distributing the wealth.’ Some businessmen have even started studying Marxist theories, so that they will have a better understanding of the present economic system.

“While state representatives are busily engaged in investigating and interfering, our agents and salesmen are handicapped because they never know whether or not a sale at a higher price will mean denunciation as a ‘profiteer’ or ‘saboteur,’ followed by a prison sentence. You cannot imagine how taxation has increased. Yet everyone is afraid to complain. Everywhere there is a growing undercurrent of bitterness. Everyone has his doubts about the system, unless he is very young, very stupid, or is bound to it by the privileges he enjoys.

“There are terrible times coming. If only I had succeeded in smuggling out $10,000 or even $5,000, I would leave Germany with my family. Business friends of mine are convinced that it will be the turn of the ‘white Jews’ (which means us, Aryan businessmen) after the Jews have been expropriated. The difference between this and the Russian system is much less than you think, despite the fact that we are still independent businessmen.”

As Mises says, “independent” only in a decorous sense. Under fascism, explains this businessman, the capitalist “must be servile to the representatives of the state” and “must not insist on rights, and must not behave as if his private property rights were still sacred.” It’s the businessman, characteristically independent, who is “most likely to get into trouble with the Gestapo for having grumbled incautiously.”

“Of all businessmen, the small shopkeeper is the one most under control and most at the mercy of the party,” recounts Reimann. “The party man, whose good will he must have, does not live in faraway Berlin; he lives right next door or right around the corner. This local Hitler gets a report every day on what is discussed in Herr Schultz’s bakery and Herr Schmidt’s butcher shop. He would regard these men as ‘enemies of the state’ if they complained too much. That would mean, at the very least, the cutting of their quota of scarce and hence highly desirable goods, and it might mean the loss of their business licenses. Small shopkeepers and artisans are not to grumble.”

“Officials, trained only to obey orders, have neither the desire, the equipment, nor the vision to modify rules to suit individual situations,” Reimann explains. “The state bureaucrats, therefore, apply these laws rigidly and mechanically, without regard for the vital interests of essential parts of the national economy. Their only incentive to modify the letter of the law is in bribes from businessmen, who for their part use bribery as their only means of obtaining relief from a rigidity which they find crippling.”

Says another businessman: “Each business move has become very complicated and is full of legal traps which the average businessman cannot determine because there are so many new decrees. All of us in business are constantly in fear of being penalized for the violation of some decree or law.”

Business owners, explains another entrepreneur, cannot exist without a “collaborator,” i.e., a “lawyer” with good contacts in the Nazi bureaucracy, one who “knows exactly how far you can circumvent the law.” Nazi officials, explains Reimann, “obtain money for themselves by merely taking it from capitalists who have funds available with which to purchase influence and protection,” paying for their protection “as did the helpless peasants of feudal days.”

“It has gotten to the point where I cannot talk even in my own factory,” laments a factory owner. “Accidentally, one of the workers overheard me grumbling about some new bureaucratic regulation and he immediately denounced me to the party and the Labor Front office.”

Reports another factory owner: “The greater part of the week I don’t see my factory at all. All this time I spend in visiting dozens of government commissions and offices in order to get raw materials I need. Then there are various tax problems to settle and I must have continual conferences and negotiations with the Price Commission. It sometimes seems as if I do nothing but that, and everywhere I go there are more leaders, party secretaries, and commissars to see.”

In this totalitarian paradigm, a businessman, declares a Nazi decree, “practices his functions primarily as a representative of the State, only secondarily for his own sake.” Complain, warns a Nazi directive, and “we shall take away the freedom still left you.”

In 1933, six years before Reimann’s book, Victor Klemperer, a Jewish academic in Dresden, made the following entry in his diary on February 21: “It is a disgrace that gets worse with every day that passes. And there’s not a sound from anyone. Everyone’s keeping his head down.”

It is impossible to escape the parallels between Guenter Reimann’s account of doing business under the Nazis and the “compassionate,” “responsible,” and regulated “capitalism” of today’s U.S. economy today. At least the German government was frank enough to give the right name to its system of economic control.

Here is the link for this article:

http://mises.org/story/47


6 posted on 05/24/2008 8:02:37 AM PDT by stockpirate (Typical bitter white person, not voting for McCain, he's socialist.)
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Comment #7 Removed by Moderator

To: Principled

Liberal DemoRAT Energy Plan:

1. You can’t drill for oil anywhere.
2. You can’t build a refinery anywhere.
3. You can’t build a nuclear power plant anywhere.
4. You can’t burn coal for electricity.
5. You can’t allow the oil companies to reinvest their profits into exploration.
6. But you can drive up the price of food by subsidizing an ethanol industry that takes land out of food production while using more energy than it creates.
7.You must continue to tax every gallon of gas that we put in our tanks.
8.You must threaten all energy users with additional ‘carbon taxes’.
9. And just in case some entrepreneur out there somewhere may have an idea for an alternative energy concept that just might work, you must raise the capital gains tax so that investors have less capital and less incentive to invest in his/her project. count your blessings.

With the coming change in administration and Liberals in Congress, it will be guaranteed that the price of gasoline hits $10 per gallon as our economy dumps. All this and more thanks to anti-American, anti-military Liberal DemoRATS whose platform is “enjoy living in America the new third-world created by Liberal socialists.”


8 posted on 05/24/2008 8:09:05 AM PDT by ExTexasRedhead
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To: Hoodat
Extend that: when we are beholden to our enemies for oil how will ever defend ourselves?

Should I take up Russian or Chinese? Both?
9 posted on 05/24/2008 8:09:18 AM PDT by socialismisinsidious ( The socialist income tax system turns US citizens into beggars or quitters!)
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To: Principled

Liberal DemoRAT Energy Plan:

1. You can’t drill for oil anywhere.
2. You can’t build a refinery anywhere.
3. You can’t build a nuclear power plant anywhere.
4. You can’t burn coal for electricity.
5. You can’t allow the oil companies to reinvest their profits into exploration.
6. But you can drive up the price of food by subsidizing an ethanol industry that takes land out of food production while using more energy than it creates.
7.You must continue to tax every gallon of gas that we put in our tanks.
8.You must threaten all energy users with additional ‘carbon taxes’.
9. And just in case some entrepreneur out there somewhere may have an idea for an alternative energy concept that just might work, you must raise the capital gains tax so that investors have less capital and less incentive to invest in his/her project. count your blessings.

With the coming change in administration and Liberals in Congress, it will be guaranteed that the price of gasoline hits $10 per gallon as our economy dumps. All this and more thanks to anti-American, anti-military Liberal DemoRATS whose platform is “enjoy living in America the new third-world Liberal socialists.”


10 posted on 05/24/2008 8:10:37 AM PDT by ExTexasRedhead
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To: JackRyanCIA

HEy, graft and corruption isn’t easy nowadays.


11 posted on 05/24/2008 8:12:13 AM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: Clairity
To change that, a lawmaker is offering a novel idea. Rep. Sue Myrick of the House Energy and Commerce panel wants to let coastal states decide whether drilling is environmentally risky. She has introduced a bill that would give coastal states that want offshore drilling the power to opt out of the Interior Department's offshore restrictions.

Nope. Declare a national energy emergency and just start drilling wherever there are viable sources. Same with refineries and nuclear power plants.

12 posted on 05/24/2008 8:15:04 AM PDT by paul51 (11 September 2001 - Never forget)
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To: stockpirate

>The difference between the systems, wrote Mises, is that the German pattern “maintains private ownership of the means of production and keeps the appearance of ordinary prices, wages, and markets.” But in fact the government directs production decisions, curbs entrepreneurship and the labor market, and determines wages and interest rates by central authority. “Market exchange,” says Mises, “is only a sham.”<

The parallels between the two governments are frightening.


13 posted on 05/24/2008 8:21:39 AM PDT by Califreak (Hangin' with Hunter-under the bus "Dread and Circuses")
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To: Clairity

14 posted on 05/24/2008 8:25:16 AM PDT by RushingWater (Pres. Bush honors Mexican sovereignty over our own - Pardon Ramos/Campeon/Hernandez)
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To: Clairity
We're told drilling oil at home is hazardous for the environment. But liberals have no problem with buying oil from Third World countries that don't have the kind of environmental consciousness that we do! It doesn't compute.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

15 posted on 05/24/2008 8:27:59 AM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: stockpirate
Thanks for posting the full text of the article this time.
I've found that most here will not click on the provided link. This is an excellent article and should be read and scrutinized. (I saved it from the link you provided the other day.)

Perhaps you could post it as a stand alone thread?

16 posted on 05/24/2008 8:32:17 AM PDT by Just A Nobody (PISSANT for President '08 - NEVER AGAIN...Support our Troops! Beware the ENEMEDIA)
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To: JackRyanCIA
You have to be smart to be one of those ya know.

Yeah, if you're smart and stay in school and do your homework, you'll get stuck in the US sInate.

17 posted on 05/24/2008 8:34:17 AM PDT by Just A Nobody (PISSANT for President '08 - NEVER AGAIN...Support our Troops! Beware the ENEMEDIA)
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To: ExTexasRedhead

Well said!


18 posted on 05/24/2008 8:39:01 AM PDT by TFMcGuire (Either you are an American, or you are a liberal)
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To: RushingWater

Mark to send to legislators.


19 posted on 05/24/2008 8:42:04 AM PDT by TFMcGuire (Either you are an American, or you are a liberal)
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To: paul51
Nope. Declare a national energy emergency and just start drilling wherever there are viable sources. Same with refineries and nuclear power plants.

Yep. It will have to be a multi-facetted action plan. It is a real crisis and it is in our faces and ignorant government policy and inaction let it happen. The real solution lies in attacking the problem from various directions. Allow me to provide details to your statement.

Explore and drill, east and west coasts and Alaska. And yes, that includes YOU Californians. You ain`t nothing special, except maybe "special-ed." Besides, you need the money because your state is going bankrupt from all the illegal aliens you won't get rid of.

Develop the rather massive oil reserves contained in the Bakken Formation

Build modern technology refineries

Build modern technology Nuke power plants

Build modern technology clean-coal power plants

Open the clean coal deposits Klinton “closed” which contains 62 BILLION tons of environmentally safe low-sulfur coal from the Kaiparowits Plateau in Utah.

Slowly but steadily increase the Corporate Average Fuel Economy (CAFE)

Tax breaks to companies developing bio-diesel techniques that create fuel from cheap waste.

Tax breaks and investment perks for moderate temperature geothermal ORC power plant technology that operates off industrial waste heat / geothermal applications to generate power directly and run at 90% efficiency, without impacting oil and gas production.

At 400kW per unit you just line up as many as you need for a small community. Quiet and extremely clean.

Just how can we do this the simple, easy, smart way? How do we get away from the ignorance of ethanol? And from CORN no less?

The President must lead.

If the President were to announce this program tomorrow and clearly state that due to the necessity of averting a disaster to the economy and a threat to National Security he will emplace Executive Orders that will not only immediately initialize this overall program but exempt it from excessive or unnecessary environmental regulatory agencies rules where do you think the hedge fund speculators will go, thus dropping the market price of crude by roughly 50 bucks?

They will go straight to that new market of energy production and the companies that will build it, the new technologies that will emerge, as a well functioning "new energy industry" SHOULD be that inviting. Not only will the price start to drop immediately, the very nature of new industry gains and emerging technologies will keep the price down. And, as always, when other nations began to utilize the new and more efficient (higher profit margin) techniques the overall demand will slow.

BTW, as we move into the future and plan ahead we should think about how we use the energy source. Examples... All future power plants should be Nuke or Clean Coal. Reserve the natural gas for heating homes. That will allow more fuel oil to be used in diesel trucks because it is not heating houses. The natural gas can. You can heat a home with natural gas but you can not get the hauling capacity by trying to run the 18 wheeler on it.

Get the automakers together on a relatively cheap electric car and start building the new technology Nuke power plants to handle the extra overnight charging demand. And get the automakers off the shoebox on a roller-skate designs. Hello GM / Ford / Honda your designs are BUTT-UGLY.

Build these and we will buy.

However, you are going to have to give up on the $109,000 price tag. In return we will come off the 0-60mph in 3.9 seconds thing.

20 posted on 05/24/2008 8:42:23 AM PDT by TLI ( ITINERIS IMPENDEO VALHALLA)
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