Thursday, 13 November 2008
An Energy Policy You Can Believe In
The price of oil has fallen into the mid fifties per barrel. The sharp drop in the price of a barrel has caused the price of a gallon of gas to fall below two dollars for the first time in the last couple of years. The combination of a downturn in the economy along with a glut of supply has caused the price of oil to plummet. The return of low prices provides the U.S. with a grace period. An opportunity to ramp up production of our own natural resources. We have time to increase our offshore drilling and begin mining our oil shale repositories. If we begin now, we will be able to increase our supply in the next two years in time for the economy to recover. It will allow us to stave off another huge price spike in gas. A spike which could easily overwhelm and kill off a budding recovery. So what does the Obama administration plan to do?
The idea of reversing the expansion of oil drilling is insane. The Obama administration is obviously not serious about developing an energy policy that will actually work. They instead would rather toy around with renewable energies that are not viable in the market place. Mark my words. This decision will come back to haunt the Obama administration and will do significant damage to U.S. economic viability. In a couple years we will face the same shortages we faced this time, and the Obama team will throw up thier hands and say "we will have alternative fuels in 10 years!". Meanwhile Rome will be burning.An Obama administration also could overturn the Bush administration policy of banning funding to organizations such as the U.N. Population Fund that operate in countries that practice forced sterilization, including China, which adheres to the "one child" policy.
Podesta said his team also is reviewing Bush's order that lifted restrictions on oil drilling on fragile federal lands in Utah. Environmental groups decried Bush's decision when he opened the lands to exploration this month, and Podesta called the decision a "mistake."
Posted by at 4:41 PM in National Politics
