Feeding the Pig
Every day 85 million barrels of oil are produced around the world. And 21 million of those are used here in the United States. That’s 25% of the world’s demand, being used by just 4% of the world’s population.
We have had seven and a half years of failed energy policy by the Bush regime. We have a faltering economy and Republicans running for office need a distraction. John McCain has the nerve to suggested that if Democrats would allow oil companies to drill in protected areas, the price of gasoline would come down and the economy would be better off. However, Bush resently acknowledged in a press conference that drilling in these protected areas would not bring down the price at the pump.
Speaker of the House, Pelosi will not allow the issue of offshore oil drilling, to come up for a vote on the floor of the House. She insists on exhausting other remedies in terms of increasing supply in America.
Democrats asked Bush to free up 10% of the over 700 million barrels of oil from the Strategic Petroleum Reserve, which is supposed to be used for dire emergencies. Our strategic reserve is 97.5 full, which is the largest supply ever and it has already been paid for by the American taxpayer. Putting that oil on the market will increase supply and reduce price. Once the price comes down, we can buy back the oil for our Stategic Petroleum Reserve at a lower price. Releasing oil from the Strategic Petroleum Reserve would bring down the price at the pump in 10 days. More drilling would take 10 years.
Pelosi insists: “Democrats have a commonsense plan to help bring down skyrocketing gas prices by cracking down on price gouging, rolling back the billions of dollars in taxpayer subsidies, tax breaks and royalty relief given to big oil and gas companies, and increasing production of alternative fuels.”
The House of Representatives has passed every one of those initiatives, but have run into a brick wall with Republicans in the Senate and the White House. Four dollars per gallon gas can be attributed to oil men in the White House and their protectors in the Senate.
We have had seven and a half years of failed energy policy by the Bush regime. We have a faltering economy and Republicans running for office need a distraction. John McCain has the nerve to suggested that if Democrats would allow oil companies to drill in protected areas, the price of gasoline would come down and the economy would be better off. However, Bush resently acknowledged in a press conference that drilling in these protected areas would not bring down the price at the pump.
Speaker of the House, Pelosi will not allow the issue of offshore oil drilling, to come up for a vote on the floor of the House. She insists on exhausting other remedies in terms of increasing supply in America.
Democrats asked Bush to free up 10% of the over 700 million barrels of oil from the Strategic Petroleum Reserve, which is supposed to be used for dire emergencies. Our strategic reserve is 97.5 full, which is the largest supply ever and it has already been paid for by the American taxpayer. Putting that oil on the market will increase supply and reduce price. Once the price comes down, we can buy back the oil for our Stategic Petroleum Reserve at a lower price. Releasing oil from the Strategic Petroleum Reserve would bring down the price at the pump in 10 days. More drilling would take 10 years.
Pelosi insists: “Democrats have a commonsense plan to help bring down skyrocketing gas prices by cracking down on price gouging, rolling back the billions of dollars in taxpayer subsidies, tax breaks and royalty relief given to big oil and gas companies, and increasing production of alternative fuels.”
The House of Representatives has passed every one of those initiatives, but have run into a brick wall with Republicans in the Senate and the White House. Four dollars per gallon gas can be attributed to oil men in the White House and their protectors in the Senate.
posted by Jim O'Leary | 12:27 AM
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