“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”~ President Ronald Reagan Democrats (and the Maine Republicans ladies) are agog to demonize oil companies and punish them with punitive tax increases. Their effort was defeat yesterday 52-48, but they plan to continue | Read More »
Many liberals in the media are expressing shock over Obama’s apparent willingness to increase oil production. We all know that he is full of …, I mean ethanol, and they do too. Those of you who were befuddled at the news that Obama will ‘expand drilling’ in Alaska are not missing anything. Obama has pulled this political chicanery a number of times. Whenever a specific | Read More »
Obama’s oil free utopia is precipitating yet more mayhem on our economy. Today, two major news stories concerning our lack of oil production highlight just how profoundly oil affects our economy. The first story concerns the Trans Alaska Pipeline. The pipeline employs 2,000 workers and delivers 11% of our domestically produced oil to the other states. During its early years, when we weren’t impounding the | Read More »
The Republican Study Committee has struck again. While Republican House leaders are tepidly tiptoeing around energy policy with an incremental approach, RSC Energy Task Force Chairman Bob Latta (R-OH) is pushing a comprehensive energy production bill. The Consumer Relief for Pain at the Pump Act, H.R. 1777, would open up thousands of acres worth of drilling fields, extirpate onerous regulations from the backs of our | Read More »
Cute little guy, isn’t he? Well, for a lizard. He’s also known as the Dunes Sagebrush Lizard; this endearing little critter is native to the American Southwest. Specifically, eastern New Mexico and West Texas. This is what the lizard’s preferred habitat looks like: Notice what’s missing? Oil derricks. You see, the favored habitat of the Dunes Sagebrush Lizard also happens to be a favored habitat | Read More »
Like many Ohioans, I experienced sticker shock today when I filled up at our neighborhood gas station outside Cincinnati. Regular unleaded was $3.79 a gallon. Some Ohioans are already seeing gas prices over four dollars per gallon, and higher prices may be on the horizon. This makes it more expensive to commute, drive to the store or take a vacation. Because oil fuels every | Read More »
As the graph below shows, the price of gas is languishing just above $4.00 per thousand cubic feet. I’m selling gas at 2/3 the price it was back in 2005, and about a third of its peak price in 2008! Somebody must be cheating me out of my gas, and it’s about time Obama looked into it! Huh? What’s that? You don’t think that’s the | Read More »
I believe that this qualifies as a “Kinsley gaffe:” which is to say, a politician accidentally telling the truth. Background: this was from a press conference where the President was trying to explain why his foreign policy was such an improvement over georgewbushgeorgewbushgeorgewbush’s, despite the fact that it lacks a coherent conceptual framework, an overall philosophy, a clear set of objectives, and any sort of | Read More »
In 2011, Gulf of Mexico oil production will under-perform the government’s pre-Macondo forecasts by 355,000 barrels per day — almost 130 million barrels for the year. In 2012, the shortfall rises to 550,000 barrels per day — 200 million barrels. That’s fully one-third of the Gulf’s oil producing capability, and over 10% of total domestic oil production. These are staggering numbers. Alaska, our #1 oil | Read More »
You may have heard that there was an election in Ohio last year. Popular Governor Ted Strickland (D) was defeated in his re-election campaign by John Kasich (R), and Lieutenant Governor Lee Fisher (D) was crushed in the Senate race by former Bush advisor Rob Portman (R). Senator Sherrod Brown (D) has sure noticed. He’s also noticed that gas prices are going up, and up, | Read More »
While Obama continues his implacable war on fossil fuels and campaigns for impotent and unreliable energy sources, he incessantly condemns oil as ‘the energy of the past’. He is obviously referring to his self-fulfilling dream of eradicating oil from our economy; not the proven reality of our oil reserves. According to the latest research by the Congressional Research Service (CRS), America has more proven reserves | Read More »
“If Saudi Arabia were to become unhinged, the consequences are almost impossible to imagine—politically, economically, at every level,” said Ryan Crocker, who was the U.S. ambassador to Iraq until 2009. “But I don’t see it happening.” National Journal.com. Saudi Arabia suffers from a despotic, myopic, reactionary government that bases its authority upon a religion that quite literally demands that its followers render all non-Islamic countries | Read More »
In 1995, the Republican-controlled House and Senate passed a balanced budget act, which contained a provision to open the Arctic National Wildlife Refuge (ANWR) for oil drilling and exploration. On December 6th of that year, President Bill Clinton vetoed the bill, ensuring that not a drop of oil would be extracted from the barren land of this 20 million acre area. We have literally been | Read More »
“We’re looking at the options,” including drawing on the Strategic Petroleum Reserve, William Daley said. “It is something that only is done—and has been done—in very rare occasions. There’s a bunch of factors that have to be looked at. And it is just not the price.” – (HT: Breitbrt.com) In the recent two years, oil has gotten progressively more expensive and as a result, gasoline | Read More »
Earlier today, Energy Secretary Steven Chu reiterated his insouciance to the plight of the American consumer of oil and gas. Chu told members of the Senate Budget Committee that there is no need to tap into the Strategic Petroleum Reserves because it will be corrected by spare world oil capacity: “we have spare capacity, we expect naturally that the market forces will take care of | Read More »
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