Saturday, August 02, 2008

Drill now, Drill Here

In the past year or so I have listened to many different reasons, from many different people about the rising price of gasoline and crude oil. Some are well thought out, backed by facts and figures, other are just plain dumb. However, if you want to really get out in the twilight zone of irrational thinking, ask someone how we get out of this mess?

The latest example of silliness comes from none other than the 'Dali Bama' himself. For a person who is supposed to be incredibly smart and full of great ideas, I am still scratching my head over this one. Why not drill for our own oil, right here at home Senator Obama? We don't need to...
There are things you can do individually, though, to save energy. Making sure your tires are properly inflated — simple thing. But we could save all the oil that they’re talking about getting off drilling — if everybody was just inflating their tires? And getting regular tune-ups? You’d actually save just as much!

As kids today say, OMG, is he serious?

John Hinderaker from Powerline did the math and it seems that Barack Obama is right, we could save "all the oil that they're talking about getting off drilling" by inflating our tires....

In 11,308 years! I'm not sure the American people are ready for that kind of forward thinking.

Look folks, oil is a commodity, a world wide commodity. As China and India, as well as other developing countries use more oil, the price will go up as demand increases. It's called supply and demand. There is another factor at work here, speculation. Speculators look for trends to determine whether the price of oil will go up or down in the future, and they bet accordingly. Here is the trend speculators have been betting on, and winning with, for the past two years.

When Democrats took control of Congress in 2006, a barrel of crude cost $53.52 on the open market, gasoline was $2.33 a gallon. With Nancy Pelosi and Harry Reid in charge, the speculators could depend on one thing, the United States would not increase domestic supply, even as demand from foreign markets grew. They were right. This summer oil soared to $147 a barrel and I was paying $5.09 for a gallon of gasoline. How much of this was driven by speculation and how much of it was simply the market economy working? We caught a glimpse of this when President Bush lifted a presidential ban on offshore oil drilling on the Outer Continental Shelf. We still couldn't drill for oil without Congress acting but the speculators heard the message loud and clear. The trend had ended, Americans want more domestic production. Oil prices dropped 16% in a month.

Pelosi and Reid will not bring this issue to the floor for a vote. Why? They know a bill calling for increased domestic oil production will pass, they may have the majority in Congress but $5.00 a gallon gas hurts both democratic and republican voters and those voters are angry. This came to head yesterday as Democrats adjourned Congress to go on vacation without voting on drilling for more oil. Is that the leadership America needs today?

I am all for finding alternative sources of energy. If you like the T. Boone Pickens wind plan, great, lets go for it. If you want to develop solar and nuclear power, I'm with you. Sugar cane ethanol and E85 cars? lets do it. If you want to conserve and become the leader in efficiency when it comes to using energy, I'm fine with that too. Just don't ask me to ride my bike 5o miles to work and back every day.

We need to look inside our borders for energy while we try to find alternatives to fossil fuels. The less we depend on oppressive dictators and OPEC for our economy's life blood, the better.

It seems the Obama campaign has done a little polling. They know Obama is on the wrong side of this issue and being the typical politician he is, Obama now says he may be open to a little drilling.....

I am glad to see the Junior Senator from Illinois is coming around to my way of thinking.

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