The Republicans promised that if the USA could just produce more oil, the price we pay for gasoline at the pump would go down. Drill Baby Drill, they urged. The Republicans lost with this argument in the 2004 and 2008 presidential elections, but Barack Obama
In the 2008 elections, the old oil economy was rejected by voters, who supported candidates promising a new focus on sustainable energy. Why, then, are the Democrats in Congress now acting like Republicans, and supporting dirty old energy interests?
Big oil companies have said that increased oil drilling and oil refining capacity are necessary for a reduction in the price of oil. Nonetheless, here we are with a significant, rapid decrease in the price of oil without those conditions. How has it happened?
13 percent of the spilled oil went down to the sea floor – that’s something like 1,430,000 gallons. 220,000 gallons of the oil went onto the beaches, and according to NOAA, a great deal of that oil is still there, leaching out into the waters of Prince William Sound to this day.
A spill estimated to be between 10 and 20 tons of crude oil has taken place at an oil rig near the Shetland Islands. Spill, baby, spill!
If Sarah Palin is right, and the oil that’s in the ground was placed there as a blessing by God, God only blessed the United States with 3 percent of the oil it needs. That’s a 97 percent blessing deficit for the USA!
Sarah Palin’s plan to American energy overseas during an energy crisis is reminiscent of the the shipments of food from Irish farms over to England during the Potato Famine.
I think that there’s a good argument to be made for the idea that, although the current financial crisis is founded broadly upon problems in credit markets, that the economic stress that provoked the breakdown in credit markets was the rapid inflation in gasoline and other oil-based energy products.
What might have been different if Americans had been organized to reduce energy consumption at the beginning of this year, to get the price of oil back down to 80 dollars? How many people who have had to go into foreclosure would have been able to keep their homes?
It’s simple fifth-grade math and common sense. Expanding oil drilling “will not do us any good long-term”. Yet, that’s the energy policy endorsed by John McCain and Sarah Palin.
You might want to call your bank this morning and check – has it been bought out by Bank of America yet? How big is that safety net you’ve got handy?