Saturday, June 7, 2008
Thanks Nancy!!
As oil passes $130 per barrel and gasoline $4 per gallon, it's time to give thanks to Nancy Pelosi and the democrats. When they took control of congress, they promised to reduce the cost of gasoline, then selling for a little over $2 per gallon. They promised energy independence. But what did they deliver? They have steadfastly refused to allow drilling in ANWR, off the east coast, off the west coast, or in most of the gulf. They have also blocked the recovery of oil from our vast oil shale deposits in the west. How much oil are we talking about? The total proven oil reserves of the ENTIRE WORLD amount to 1.3 trillion barrels, and the oil that Pelosi is keeping in the ground amounts to 2.6 trillion barrels. That's right, 2.6 TRILLION barrels, $338,000,000,000,000 worth, or about 50 times the entire US national debt. To put it another way, that's enough to give every man, woman, and child in America $1 million, and still have more than $30 billion left over to spend on medical research or alternative energy. Imagine the impact on oil prices of tripling the world's supply. Imagine the impact of the US not needing to import oil from the middle east ever again. Imagine that amount of money to pay off the debt and finance all sorts of things. Well, thanks to Nancy, that's all you can do, imagine, because as long as the democrats stay in power it will never become reality. The oil will stay in the ground, our money will flow to the countries that try to destroy us, our economy will suffer, and jobs will continue to be lost. Thanks Nancy, you're doing a heck of job!
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2 comments:
I'm interested in the numbers...I don't necessarily dispute them, but I would like to understand them. The revised (upwards) estimates from the 2002 USGS (http://pubs.usgs.gov/fs/2002/fs045-02/) suggest 6-13 billion barrels recoverable at $22-30 prices and mean estimates at higher prices are around 21 billion barrels.
(http://www.msnbc.msn.com/id/4542853/)
I've not researched the amount of coastal oil or oil locked up in shale, but I generally agree that it should be opened for exploration...however because these are national resources, I oppose gifting them to oil corporations (we often pay corporations to take public natural resources); the oil should be sold at market prices with the proceeds funding national alternative energy (i.e. nuclear) development so we aren't back in the same boat 15 years from now.
Laying all of this at the feet of Nancy Pelosi seems unreasonable given that the debate over off-shore and ANWR drilling was raging long before she had much authority to influence the outcome. However I'm not a fan of hers and understand your point. Germany has suffered from the same poor energy policy due to the Greens and now buys a significant portion of their energy from France!
Regarding the numbers, US total proven reserves are listed at 20 BBL, so ANWR would double US reserves, while the oil in western shale, estimated at 2.5 TBL would make the US the worlds largest oil producer. I agree the government should get a fair price for the oil, the same deal as any landowner would get from an oil deal. As far as earmarking the proceeds, well, good luck with that! Politicians tend to spend money as they see fit to get elected, but it would be a good idea regardless to have a sane national energy policy. As far as Pelosi, well, I don't like her, she is in power now, and she is a strong advocate for the current stupid policy.
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