The Washington Post reports this morning that the House of Representatives has voted for an energy freeze.
No lower gas prices for you.
“We’re not trying to give incentives to drill, we’re giving incentives to invest in renewables and natural gas that will take us where we need to go,” House Speaker Nancy Pelosi (Calif.) told reporters before the vote.
What Nancy does not tell the press is that she and her husband are key investors in T. Boone Pickins’ alternative energy plan. This vote will make Nancy money, while the rest of us are losing money at the pump.
The Institute for Energy Research has a review of the legislation that gives the lie to Nancy and the Democrats.
According to IER, the legislation expands drilling in the outer-continental shelf, but only beyond fifty miles from the coast, in areas where we know there most likely is little, if any, oil. The legislation also fails to open the Eastern Gulf of Mexico where there is a lot of oil.
The legislation also adds new environmental burdens making it even more costly to extract oil in existing areas.
But here is the most important point. Back to America’s Mother-in-Law’s quote:
“We’re not trying to give incentives to drill, we’re giving incentives to invest in renewables and natural gas that will take us where we need to go.”
When the President dropped the executive order on OCS drilling, the price of gas at the pump went down. There was an immediate impact at the pump from the President doing that.
The Democrats’ solution is to do nothing to lower the price of gas, but to make long term, costly investments in alternative energy solutions that will do absolutely nothing for you and me today.
There are steps that can be taken to improve the situation and lower costs today. The Democrats refused to take those steps.
In the meantime, Nancy’s investment in T. Boone Pickens’ scheme is paying off for her.