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Originally Posted by aceventura3
When Congress passed the Energy Independence and Security Act of 2007 and Bush signed the bill into law, it seems the great minds in Washington were short-sighted in many ways, one being the DOD can not purchase Canadian oil from tar sands.
http://idahofallz.com/2008/03/04/ene...a-and-clinton/
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So, for all the talk of Energy Independence and Security, we are getting neither. We are barred from domestic drilling in Alaska, Florida, and California by the Democrats. We are barred from adding nuclear plants by Democratic leaning special interest groups and lawsuits filed to stall construction of plants. We are barred from using existing coal-to-liquid petrol (synthetic oil technologies) as well. The fact that President Bush signed this lousy piece of legislation is disappointing. The fact that Obama and Clinton voted for this bill is a sign that they are not really interested in change. This is a classic example of politicians speaking out both sides of their mouth. While that is nothing new, what is truly amazing is that the United States will continue to suffer as a result.
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Next, time you fill up think about our great leaders in Washington. The next time OPEC nations try to flex their muscles using oil as leverage, think about our great leaders in Washington. All the talk about energy independence is B.S. |
ace...are you suggesting the recently enacted Energy Independence and Security Act of 2007 is responsible for the spike in the price crude to over $100/barrel....given that none of its provisions have been implemented yet.
Where was Idaho Fallz.com between 2001-2007, when the cost of gas increased by over 100% and the cost of home heating oil increased by over 125%?
IMO, the bill is the right approach....focus on increased efficiency, lower demand, investment in alternatives....with a bonus of reductions in CO2 emissions.
Energy independence wont be achieved overnight and it wont be without short-term costs and sacrifices.
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Originally Posted by aceventura3
Currently the primary reason oil is so expensive is due to regulations.
Or are we better served by having a healthy group of domestic oil companies?
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The primary reason oil is expensive is due to regulation? Explain, please.
Healthy domestic oil companies? Exxon's earnings of $10 million/hr in the 4th quarter seems pretty healthy to me. Exxon et al set new record profits with each passing quarter.