Posted on 11/25/2008 8:11:07 AM PST by Maelstorm
THIS summer's cry of "drill, baby, drill" quickly faded once gasoline prices tumbled. Now that the price is below $2 a gallon again, many people want to abandon offshore drilling again.
That would be a mistake.
Gasoline will top $4 a gallon again if the politicians in Washington retreat into their cocoons once more. America must prepare for the next energy crisis now by passing legislation to enable drilling when the need arises.
Congresswoman Shelley Moore Capito is calling for Congress to keep the options open for offshore drilling.
"The price drop - of course that's a good thing," she told the Daily Mail's Jake Stump. "But when the prices go down, other technologies become less competitive, like coal-to-liquids.
"Some of the things that happen when gas goes down, it's still an area of concern for me.
"We still have to address the issue. Something we learned from the '70s oil crisis is that we need to get serious about this. After the crisis, the price of oil went down and it went off everyone's radar screen."
During the debate on lifting the 26-year-old ban on offshore drilling, many Democrats argued that it would take too long to tap into the offshore oil to make much difference. Some said it would take 10 years.
But had President Clinton not vetoed a 1995 attempt to lift that ban, the United States would have been tapping into that oil in the past few years, thus moderating the spike in oil prices.
This time around, perhaps Democrats have learned their lesson. The ban likely won't be back.
Said House Majority Leader Steny Hoyer, D-Md.: "I don't think there is any intent at this point in time. . . to return to the same position we were in."
America must get a significant measure of energy independence from unstable or hostile regimes. Alternative fuels, including coal-to-liquid, must be pursued.
But the United States needs to get the lead out and produce its own petroleum as well. To do otherwise is irresponsible.
The market will decide if we “drill, baby, drill” off the coasts of this country, and that’s as it should be. More projects make sense at $100 a barrel than at $40 a barrel.
Where's Captain Obvious when we need him?
the msm gets a lotta mileage outta the tired “big oil”.
people hate big oil.
yet, 90% of oil is controlled by governments, not u.s oil co’s.
No need to worry about frivolous lawsuits from the Sierra Club after Obama renews restrictions on drilling by Executive Order.
I fully expect to see an increase in the gas tax to offset the recent fall in gas prices.
Expect a new tax credit for lower income similar to the EITC to offset the cost of the tax increase. Fully refundable to those who don’t own a car.
Expect tax credits for buy cars from producers in economically depressed regions with high unemployment, ie, Detroit.
The rest of the money will go to the treasury to offset the cost of bailing out the big three.
Also big increases in gas guzzler taxes.
“drill, baby, drill”
yes, I recall some politician preaching that recently. What’s her name...Sherrie, no Susie, no Esther...hmmm...I think it was SARAH PALIN.
So the price of oil came down to deflect the arguments away from drilling here, away from the Dem threats to bankrupt the coal industry, and as usual, Americans cant see further than what is in today’s headlines, with no regard for long term stability and energy independence.
Not going to happen now. The US is in a death spiral.
It is getting harder and harder to watch it.
Why do you think the prices are going down....of course to keep drilling within our country unprofitable....wait the prices will go up again. The low price of gas is about the only thing helping folks right now. I really don’t know about these people.
Short-term swings in the price of oil don’t change the fact that national security ultimately demands getting off oil dependence altogether. When certain countries have no market for the stuff other than processing it into camel lube, they’ll be in a position to make a lot less trouble.
That's because people are largely ignorant. They hate "Big Oil" because the MSM and politicians tell them to. The government makes more on a gallon of gasoline than either the gas station or Big Oil, but you don't hear many politicians carping about Big Government being a problem.
Remember, no matter how rich, how powerful or how Big and oil company becomes, it cannot levy taxes or put people in jail.
Big Government is always worse than Big [insert capitalist industry here].
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