Energy: June 2008 Archives

I'd be remiss, especially after pointing out Democrat hyper-partisanship and dishonesty on energy policy, if I didn't also point out that our hope on the right for changing the 30 years of Democrat obstructionism is - well, disappointing. McCain, from this morning:

Although the GOP presidential candidate didn't address the question of raising taxes on oil companies, he said the companies "absolutely" should return some profits to consumers. "And they should be embarking on research and development that will pay off in reducing our dependence on foreign oil," he said.

"The point is, oil companies have got to be more participatory in alternate energy, in sharing their profits in a variety of ways, and there is very strong and justifiable emotion about their profits," McCain said.

The issue of oil company profits came up this week in the Senate, where Republicans stopped the Democrats from imposing a tax on windfall profits and taking away billions of dollars in tax breaks in response to the $4-a-gallon price of gas.

In the past McCain has indicated he would consider such a tax proposal, saying he didn't want to see companies making "obscene profits" that distort the market.

McCain would consider windfall profits taxes? Well, he said economics wasn't his strongest subject. Someone in the McCain camp please educate the Senator on the effects of raising corporate taxes on consumer prices, please. Also, I'm very disturbed by this socialist streak he flaunts when it comes to energy policy - all this "profit-sharing" doesn't belong in a country where freedom is revered.

Also, why do our politicians (and much of the population) expect OIL companies to develop alternative energy? Isn't that kind of like expecting Toro to research grass varieties that don't need mowing?

Added to his continued ANWR = Grand Canyon theme, McCain's ideas on energy are a tragic embarrassment to the Republican Party.

Starting with this incredible whopper from Nancy Pelosi yesterday in the wake of her failed attempt to raise taxes on oil companies:

Senate Republicans have once again shown themselves to be unwilling to break free of the costly, failed Bush energy policies of the past. They have again adopted President Bushs drill and veto policy that is driving up the price of oil, diesel, and gasoline and leaving us dangerously reliant on Middle East oil.

President Bush, Vice President Cheney, and Senate Republicans have shown no leadership on energy issues for seven years, which is why we face a growing energy crisis. If Republicans will not lead us to a cleaner, more independent energy future for America then they should at least get out of the way.

If there are among you that actually buy this, please sober up and do a little research on why we face a "growing energy crisis". I guarantee it isn't because President Bush, Vice President Cheney, and Senate Republicans have been drilling, because they haven't - primarily due to Democrat obstructionism.

In the very same press release, Pelosi touts halting deliveries to the Strategic Oil Reserve "to increase oil supply in the market" as being helpful for gas prices. But when applied to Republicans, suddenly the result of drilling for more oil equals "driving up the price of oil, diesel, and gasoline and leaving us dangerously reliant on Middle East oil"?

Which is it, Nancy? Does increasing supply lower prices, or raise them?

Equally dishonest is the second part of the above quote, but only because of the framing. The Republicans have been failures on energy, but only because they couldn't get around Democrat obstruction to increasing domestic oil production. It's Nancy and Democrats in Congress who have refused to get out of the way for thirty years.

It occurs to me that you anti-war Democrats are missing an opportunity. After all, you've been insisting for years that the Iraq war (and any interest in Iran) is all about oil. If you really believe that, then supporting domestic production would eventually result in denying future administrations a reason to start wars in the middle east. And imagine how catchy the bumper stickers would be with messages like "Drill For Oil, Not Blood For Oil", or "Drill For Peace". Just think about it, guys, okay?

Drivers are paying an average of $4 for a gallon of gasoline for the first time. AAA and the Oil Price Information Service say the national average price for a gallon of regular gas rose to $4.005 overnight from $3.988. But consumers in many parts of the country have already been paying well above that price for some time.

Gas is expected to keep climbing, putting greater pressure on consumers and businesses, because the price of oil is soaring in futures markets. Light, sweet crude shot up nearly $11 a barrel Friday and approached $140 for the first time.

Along with higher fuel costs, consumers are also contending with higher prices for food and other goods because of rising transportation costs.

As a reminder:

• Democrats have obstructed every attempt at expanding domestic oil production for the last 30 years.

• Democrats want to increase taxes on the oil companies, which will be passed directly to the consumer in the form of even higher gas prices.

I hope you Democrats are proud of yourselves.