Despite current high prices at the gas pump, Congress refuses to permit exploration and extraction of potential and known oil and natural gas reserves from 85% of the nation's continental shelf off either the East or West coasts. As this is written, China is exploring for oil offshore of Cuba, barely 90 miles from Florida.He also scores the environmentalists and requirements that result in 47 different refinery formulations for gas and diesel.
Congress has consistently refused to allow exploration and extraction of the vast oil reserves located amidst the 1.5 million acres of the Alaskan National Wildlife Reserve. Less than 2,000 acres [0.13%] would be affected. . . . [O]ur own government stands in the way of accessing our own oil and natural gas.
. . . Not one single new oil refinery has been built in the U.S. for nearly 30 years.[1]
OPEC nations, he says, own some 77% of the world's oil reserves but the "five largest private global oil companies together, they represent only 4% of the world's oil reserves."
In November we are about to elect a new President and many members of Congress. Each one of them must be asked what they intend to do about this mess. If they start bad mouthing "Big Oil," vote for someone else.[2]Which is exactly what will be mouthed.
Our democracy at work.
Realistic, sensible people recognize that "alternative" energy is an appealing concept but that it does not now, and will not any time soon, meet more than a small fraction of our needs. Unrealistic people love the idea of alternative energy so much they appear to believe that not developing oil resources will somehow hasten the development of it. Or perhaps, according to their logic, not developing oil resources will make consumers "decide" to use alternative energy which they have heretofore irrationally been refusing to consider.
Eventually, there will be a rough hand on our collective shoulders saying, "Time to
Consider these few facts: "Secure" and "perpetual" are not words that come immediately to mind in connection with our Middle East supplies of oil. The oil we get from Venezuela enriches and is controlled by an oddball thug. Investors Business Daily reported yesterday that production from Mexico's largest producing field is declining and the incoming PRD government appears to be unlikely to develop other existing oil resources. Mexico is our third largest supplier of oil.[3]
If this were a situation where two parents had reached an impasse with a recalcitrant and unrealistic 18-year-old child, mom and dad would invite their young, visionary avant-gardiste to obtain alternate living arrangements and gainful employment to test out his theories about right living.
Lacking adult leadership, we, however, appear to be doomed to have the issue of developing additional, secure energy supplies — for a nation that requires huge quantities of oil — be considered a "controversial" issue.
Notes
[1] "A Primer on Oil Prices." By Alan Caruba, Accuracy in Media, 3/10/08 (emphasis added).
[2] Id.
[3] "Mexican Oil Standoff." Editorial, Investors Business Daily, 3/18/08.
2 comments:
Thank you for quoting my recent commentary.
The only B. Bunny I know goes by the name of "Bugs" so I shall exercise caution.
Come visit my blog at http://factsnotfantasy.blogspot.com or my website at
http://www.anxietycenter.com
It was a great piece, Mr. Caruba.
That is my first name. It suggests a different mindset than "Peter Cottontail," I thought.
I will visit with interest.
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