Bull, Baby Bull: Obama to open Alaska petroleum reserve to new drilling

 

LA Times: Reporting from Washington— President Obama will open Alaska's national petroleum reserve to new drilling, as part of a broad plan aimed at blunting criticism that he is not doing enough to address rising energy prices.

The plan, unveiled in Obama's weekly radio address Saturday, also would fast-track environmental assessment of petroleum exploration in some portions of the Atlantic and extend the leases of oil companies whose work in the Gulf of Mexico and the Arctic Ocean was interrupted by the drilling moratorium after last year's BP oil spill.

The measures come as high gasoline prices and the resulting popular anger threaten the fragile economic recovery and, possibly, the president's reelection chances in 2012. Congressional Republicans and some Democrats have been clamoring for increased domestic production in response to the rising prices, which economists say vary with global demand. [MORE]

If you think Obama is channeling his inner Sarah Palin and has now embraced her Drill, Baby Drill philosophy, guess again. This is just more of Obama's naked political ambition. If it weren't for the fact that high gas prices will sink his election chances, Obama would say anything like this.

Since we know that oil cannot be extracted from any of the places Obama mentioned before election day, this is just more cheap talk. If Obama is reelected in 2012 (God forbid), he will go back on his word faster than he failed to close Gitmo safe in the knowledge that no drilling actually occurred.

The time for America to increase its own oil production is dangerously overdue and playing reelection games with this issue is just plain cruel.

Via: Memeorandum
Via: The LA Times

Some thoughts on the Deepwater Horizon oil spill

Ten days ago when the Deepwater Horizon rig exploded it appeared that not many were concerned about the possibility of a massive oil spill like the one we are seeing today. I found it odd, that there seemed to be far less preparation for such an event. Time will tell if the administration and BP acted appropriately. For now, we are staring at an environmental nightmare.

As the oil spill starts to reach the Louisiana coast, we are just beginning to realize what kind of impact this spill will have on the wildlife, ecosystems and the economy of that region. Of course the anti-domestic drilling forces will, for the short term, score a tremendous victory. How can they not? With each passing day, week and month we will see the physical evidence of the risks to offshore drilling. This spill has the potential to make the Exxon Valdez spill look like a mud puddle.

This is why I find it pretty brave for Sarah Palin to step up and continue her mantra of drill baby, drill. Already, the left is beginning to mock her for her continued push for domestic drilling. It is a very easy thing to do when the evidence is currently on their side. However, there are some powerful truths to Palin’s argument. 

Alaskans understand the tragedy of an oil spill, and we’ve taken steps to do all we can to prevent another Exxon tragedy, but we are still pro-development. We still believe in responsible development, which includes drilling to extract energy sources, because we know that there is an inherent link between energy and security, energy and prosperity, and energy and freedom. Production of our own resources means security for America and opportunities for American workers. We need oil, and if we don’t drill for it here, we have to purchase it from countries that not only do not like America and can use energy purchases as a weapon against us, but also do not have the oversight that America has. 

We need the oil! This is the unshakeable truth we should not lose sight of as the whole Deepwater Horizon fiasco unfolds. Yes, there are real risks to offshore drilling. No one can deny that now, but we must not deny the fact that even if a new energy source was discovered today, it would be decades before that new energy source can fully replace oil, until then oil is what we need. We can continue to delude ourselves that buying oiling from dangerous regimes won’t backfire on us someday. We can continue to delude ourselves that that our national debt is not at the breaking point and we can afford wild fluctuations in oil prices. We can continue to delude ourselves that letting less developed nations irresponsibly extract oil for us is somehow saving the planet. Or we can put our emotions in check and face the stark realities before us. We need the oil.

So as the Deepwater Horizon nightmare unfolds, let us suppress the obvious emotional responses to the devastation. Instead let us go forward with clear thinking and a true understanding of our economic and political realities. We can learn from this fiasco how to make offshore drilling safer. We can learn from the fiasco how better to protect our environment from such accidents. We can learn from this fiasco our energy needs come with risks. The current economic and political realities of our energy situation leave us little choice.

Via: Memeorandum

Via: The New York Times

Via: Sarah Palin’s Facebook Page

Via: Rachel Maddow

Obama embraces Drill Baby Drill

I call this a welcome surprise; the Obama administration is opening up vast areas of the coast for offshore drilling. 

The New York Times: The Obama administration will approve significant oil and gas exploration off America’s coasts, including a possible sale two years from now of leases off Virginia’s coast, administration officials said Wednesday.

The move, which President Obama will announce Wednesday morning with Interior Secretary Ken Salazar at Andrews Air Force Base, ends a long-standing moratorium on oil and gas drilling along much of the East Coast, from Delaware to central Florida.

The new strategy, an administration official said, calls for also developing oil and gas exploration in the Eastern Gulf of Mexico, more than 125 miles from Florida’s coast; and in large areas in the Chukchi and Beaufort Seas in the Arctic Ocean, north of Alaska, after the government conducts detailed studies. …

The administration’s decision to open up large swaths of the Outer Continental Shelf, even as it keeps some key preserves off-limits, is likely to anger environmentalists and several key lawmakers who had pressed Obama to keep the moratorium in place. But oil and gas companies are sure to welcome the proposal.

This is good news.  America should have been drilling offshore decades ago. Not drilling off America’s shores to please environmentalist was always a foolish policy. With so many nations drilling oil for us (and less responsibly too) we were only deluding ourselves into thinking we were saving the planet.

The environmentalists are going to want Obama’s hide for this.  As such I will not be surprised if he has some gift of appeasement coming down the pike for the enviro-wienies. You will notice from the graphic, that the drilling is not going to happen anywhere near the bluest of blue states.  Perhaps that is the first gift of appeasement.

Given Obama’s dig at Mitt Romney by comparing ObamaCare to RomneyCare, I have to wonder if this offshore drilling has anything to do with taking some of the wind out of Sarah Palin’s sails. Energy independence is Palin’s strongest suit, with Obama and Palin now on the same page, is she neutralized on this issue?

Finally, given the successful resurrection of ObamaCare, I am somewhat leery that this might be a way to revive Cap and Trade. God help us if it is, Cap and Trade will for sure polish us off economically.

UPDATE: The Old Rope A Dope


As several of you have pointed out, there is a give with one hand and take away with the other game going on with Obama's plan. As we see, Obama's plan turns out to be a back door two year extension on the drilling ban. 

From Gateway Pundit: 

Obama Moratorium: The Obama Administration plan would discard the 2010-2015 Outer Continental Shelf lease plan that had been set in motion by the previous Administration and delay the implementation of their new plan until 2012. This new two-year “Obama Moratorium” (2010-2012) would almost certainly delay any new exploration in areas previously under moratoria until after the president’s entire term. The president’s plan would then keep several areas off limits, including the Pacific coast from Mexico to Canada, the Atlantic coast north of Delaware, parts of Alaska, and the most promising areas of the Gulf of Mexico.Against the will of the American people and Congress, the Administration is essentially unilaterally reinstating the drilling ban for an additional two years, signaling to markets that supply will not expand, thus raising prices. Earlier this month, Natural Resources Ranking Member Doc Hastings (R-WA) and 87 other House Republicans sent a letter to Interior Secretary Salazar urging the Administration to implement the 2010-2015 leasing plan. The letter also outlined the cost of inaction-these years of delay will leave Americans unemployed, lose billions of dollars in revenues and create a greater dependence on unstable foreign sources of oil and gas that puts U.S. national security at risk.

Stalling and blockading of new energy production endangers tens of thousands of existing jobs and prevents the creation of new jobs that would help lower the unemployment rate. Opening new areas to drilling would be a no-cost stimulus for the U.S. economy.

New Gas Tax: Making matters worse, the Democrat Congress is unfathomably considering a new gas tax. Press reports suggest that the Kerry-Lieberman-Graham climate bill under construction in the Senate may impose a “carbon tax” on motor fuels such as gasoline. This gas tax would target all consumers (especially rural Americans who travel further for work) and result in an increase in air travel, cargo costs, and significantly impact fuel-dependent industries such as trucking.

Further reading at Michelle Malkin.

Via: Memeorandum

Via: The New York Times
Via: Gateway Pundit