Filed under: Economy, Energy, National Security, Taxes | Tags: Energy Policy, Makes Thing Worse., Misstatement and Obfuscation
President Obama announced today that he would open up portions of the Outer Continental Shelf to offshore drilling. Well that sounds exciting, at least that’s what the media thought as they gushed over the announcement and hurried off to get comments from environmentalists (which of course were negative).
The Institute for Energy Research urged a little caution:
Today, while President Obama may have stated his support for increased energy development in the Eastern Gulf (which requires congressional action) and the Southern Atlantic (which he’ll study over the next year), he also announced that he would delay the development of the energy resources off Virginia’s coast and lock up vast resources off the Alaskan coast.Additionally, those who cheer the President’s newfound support for domestic energy resources should remember that the very same President’s FY 2011 budget proposal includes upwards of $36 billion in new oil and natural gas taxes, which will discourage domestic production, especially in areas like the Southern Atlantic that have little to no existing infrastructure. While today’s rhetoric made for a good news cycle, the policy is not a step forward, but a huge leap backward.
Thomas J. Pyle, President of the market oriented Institute for Energy Research issued the following statement:
America’s offshore energy resources belong to the American people. Not a company, not a special interest, and not a single administration. And a clear majority of the American people supports the commonsense strategy of producing more oil and gas here in America. Unfortunately, today, and to our economic detriment, the President once again ignored the will of the American people.Just as he did in his State of the Union Address, President Obama cited the imperative of offshore energy exploration. But words alone will do nothing to move this country’s energy policy forward in a meaningful way. It’s similar to his announcement on nuclear loan guarantees—the President talked a good game, then eliminated funding for the only nuclear waste repository in the nation.
In 2008, when Congress and then-President Bush retired the decades-old moratorium on the safe and environmentally sound practice of producing energy miles off the Atlantic and Pacific coasts, the American people, and our economy, scored a huge victory. Unfortunately, what President Obama outlined today puts part of that moratorium back in place. Kicking the energy can further down the road is not a change in policy.
Canada drills for oil in the North Atlantic. Cuba, Brazil, and Venezuela produce energy in the water to our South. The Russians do the same to our West. Yet, America, the most technologically advanced nation in the world, with the most stringent environmental policies on the books, remains the only nation that imposes burdensome regulations and endless streams of red tape on domestic production. Americans want to stop embargoing our own oil. The president’s plan expands that existing embargo, and Americans will pay the price.
This smoke-and-mirrors offering comes with a big price. The president wants to force Americans to swallow a massive new energy tax before any state reaps the benefits of this offshore drilling. The Waxman-Markey energy tax that Obama urged Congress to pass last summer would eviscerate the economy, killing more than one million jobs per year while raising the cost of energy for every American.
Filed under: Conservatism, Domestic Policy, Election 2008, Energy, Humor, Politics | Tags: Energy Policy, John McCain, Obama, Republican humor.
“My friends, I’m all in favor of inflating our tires, don’t get me wrong, But that’s a public service announcement, not an energy policy.”
The humorless one does not appreciate this kind of comment.