Hey, Bush & McCain: Why The Thrill of the Drill?

by atdleft, Thu Jun 19, 2008 at 07:31:30 PM EST

(Proudly cross-posted at Clintonistas for Obama)

Recently, there's been plenty of talk by Republicans like George Bush and John McCain about lifting the federal ban on offshore oil drilling. They claim that because gas prices have become so high, it's time for us American to stop being worrywarts and embrace the thrill of the drill. They claim that a good way to start bringing down gas prices is by drilling for more oil domestically.

But hold on, just how wise is the Bush-McCain plan to open up our coast to more drilling? Follow me after the flip for more...

So how much of an effect will offshore oil drilling have on increasing supply? And how much of an effect will it have on making our nation more energy independent? Let's see...

Actually, all this coastal drilling won't do much to affect anything. You think I'm kidding? No, it really won't.

First off, we're running out of oil... FAST! There's only a finite amount of oil on this planet. And pretty soon, there simply won't be much left. Don't believe me? Believe this guy.

And secondly, we're running out of time to deal with the climate crisis! And really, how are we creating a cleaner energy future by drilling for more oil? We need more renewable energy, not more fossil fuels. Saving our planet is just too important for us to ignore.

And finally, this whole scheme for offshore drilling is simply impractical. We would not be seeing any "benefits" of increased supply and lower prices for many years to come. And finally, production of this new oil may end up being so expensive that we may never see any benefits of lower prices at the gas pump.

When we really examine the situation, it becomes easy for us to see that this "idea" to open America's coasts to offshore oil drilling is simply stupid. It's economically impractical. It's environmentally disastrous. It's the wrong way for us to go on building a secure energy future.

I mean, really... Do we want this just off our shoreline?

Now do you? I didn't think so. Thank Barack Obama for doing the right thing and supporting real efforts to create a cleaner, greener, better energy future.




Tags: Barack Obama, John McCain, Election 2008, energy, environment, offshore oil drilling (all tags)

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Tips? Flames? Suggestions? (none / 0)

Go ahead. Make my day. Fire away! :-)


No way, no how, no McCain! :-)
by atdleft on Thu Jun 19, 2008 at 07:33:58 PM EST

I like this approach (none / 0)


RICHMOND, June 18 -- Senate candidate Mark R. Warner said Wednesday that the U.S. government needs to get tougher with OPEC and better regulate investors speculating in the oil market to drive down gas prices.

Warner (D) unveiled his energy policy the same day that President Bush called for Congress to remove the federal ban on offshore drilling, including areas off the Virginia coastline. Warner said he supports offshore exploration for oil and natural gas but stopped short of endorsing drilling, expressing environmental concerns and saying it would have no immediate impact on gas prices.

[...]

Warner hit back at Gilmore on Wednesday, calling his solution shortsighted and unrealistic. Warner instead unveiled a multifaceted proposal that seeks to reduce the U.S. reliance on oil.

"The Bush-Cheney energy policies not only sound like they were written by Big Oil, they were written by Big Oil, and we are paying at the pumps," Warner said in a speech at the Science Museum of Virginia in Richmond. "My opponent in this race, who was the biggest proponent of sound-bite solutions, is now advocating the continuation of those very policies right now. I hope this becomes one of the defining issues of this Senate race."

Tim Craig - Gas Prices Energizing Va. Senate Race Washington Post 19 Jun 08


by Shaun Appleby on Thu Jun 19, 2008 at 07:46:52 PM EST

1 problem with this.. (none / 0)

Speculators speculate when supplies are tight (and supplies are tight now).

Speculators will continue to speculate as long as supplies are tight, and as long as there is a free market.

Railing against speculators does nothing to stop speculation.

There are only 2 ways to stop speculation: (a) you increase the supply... by drilling, or by invoking some other miracle, or (b) you takeover the markets... as FDR did in 1932.

I am for both !!


If you follow history with a long enough arc, things always get better, and the truth always prevails...Gandhi
by SevenStrings on Thu Jun 19, 2008 at 08:03:11 PM EST
[ Parent ]

Re: 1 problem with this.. (none / 0)

Regulating the massive speculation market, tight supply or otherwise, is one of our biggest challenges.


by Shaun Appleby on Thu Jun 19, 2008 at 10:51:11 PM EST
[ Parent ]

Re: 1 problem with this.. (none / 0)

If the markets are sufficiently tight, then you cannot regulate them... you can only nationalize them !!


If you follow history with a long enough arc, things always get better, and the truth always prevails...Gandhi
by SevenStrings on Fri Jun 20, 2008 at 01:08:06 AM EST
[ Parent ]

Re: 1 problem with this.. (none / 0)


In comments to be aired tonight, Sheik Yamani, Saudi oil minister from 1962 to 1986, argues that the main problem is speculators and urges this weekend's meeting to confront the issue. "So many people are going into the futures market as if they're going into a casino," he said.

He calls for the pricing system to be changed and moved away from the influence of speculators, otherwise "the market is subjected to rumours, not realities".

"A small group of people, they raise the price of oil and the whole world will suffer from this," he says. "We have to have a system far away from speculation which represents the real supply-demand situation."

Patricia Karvelas -Speculation, not supply, driving oil prices The Australian 18 Jun 08


by Shaun Appleby on Fri Jun 20, 2008 at 01:52:56 AM EST
[ Parent ]

Re: 1 problem with this.. (none / 0)

Yes, I understand it is fashionable to blame the speculators today, so why should the Saudis not indulge in some of that !!

I was merely pointing out that there is a natural driving force for speculation when the supplies are sufficiently tight.  You cannot regulate against speculation in such situations!!


If you follow history with a long enough arc, things always get better, and the truth always prevails...Gandhi
by SevenStrings on Fri Jun 20, 2008 at 03:21:55 AM EST
[ Parent ]

Re: 1 problem with this.. (none / 0)

Fashionable?  Like CDO's in the mortgage market?  I don't think we are on the same page here.


by Shaun Appleby on Fri Jun 20, 2008 at 04:04:55 AM EST
[ Parent ]

Drilling (none / 0)

I don't have a big problem with more drilling as long as we get something big out of it.  We can make it part of a grand compromise to make a big change in energy policy.


Another Clintonista against John McCain
by psychodrew on Fri Jun 20, 2008 at 12:37:26 AM EST


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