Posted on 08/21/2008 4:48:41 AM PDT by kellynla
Congress suffers from a crude sense of timing when it comes to oil. When it was time to act, it did nothing for decades. Now it’s desperate to be seen doing something at the precise moment when the time has come to do nothing.
On October 1, the congressional ban on extracting oil from the 1.76 billion acres of the Outer Continental Shelf will expire. The ban has been renewed annually for decades. If Congress simply does nothing, the ban will expire, uncorking significant new supplies of oil and gas, and sending a message to world energy markets that the game has changed. Unhappily, a bipartisan group of senators calling itself the Gang of Ten is pressing for a different approach, one which will do little or nothing to expand the supply of oil, reduce prices, ameliorate environmental problems, or diminish America’s consumption of oil extracted from beneath the boots of despots.
The Gang of Ten has christened its approach the New Energy Reform Act, or New ERA (get it?). But the content of the proposal is decidedly Old Era: billions of dollars in new corporate welfare for automakers and other politically influential industries, new restrictions on oil trading and financial markets, and a gigantic tax increase on oil and natural-gas producers — most of which will be passed on to consumers in the form of higher prices for gasoline and household utilities. What’s missing from the Gang of Ten plan is anything that will put more oil on the market.
(Excerpt) Read more at article.nationalreview.com ...
If you like $4/gal, Thank Congress. If they do nothing, we win.
Pray for W and Our Troops
Hey Nancy, I am one of America’s daughters! DRILL HERE! DRILL NOW!
Listening to Lindsey Graham and Saxby Chambliss trying to sell this piece of junk legislation makes me ill. I doubt if either ever bothered to read what their staffers concocted.
Pelosi knows it and that's why she's all the sudden for a compromise but as long as the Republicans don't allow a compromise or don't allow the ban extended on some continuing resolution they will win and Pelosi will lose.
After she loses the Rats won't waste any time booting her out of the Speaker position.
BTTT!
Don’t be misled by the election year talk.
Anything proposed will not be concrete without a congressional vote.
Hold your congressional Reps and Senators hostage, using your vote.
Note to congress. Your vote for drilling in exchange for my vote for your election. No compromise. Period.
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