Step Right Up And Be Amazed
It struck me today that our fearless leaders, would-be’s, and corporate giants seem to think we’re all a bunch of rubes gathered outside a carnival sideshow, leaning on the barker’s every word.
Urging Congress to lift its ban on offshore oil and gas drilling, our fearless leader, you know, President Bush, told lawmakers, “There is no excuse for delay“.
It got worse, “Families across the country are looking to Washington for a response.” Gimme a break.
In response, House Democrats, in a news conference, propose nationalization of refineries, a way to better control the flow of oil supply. Stay tuned, this will be one hot potato.
One of our presidential wanna-be’s, Sen John McCain (R-AZ), has jumped on the bandwagon, even though he’s on record supporting the moratorium on drilling. Flip-flop, what do we believe?
The Senator also proposed a gas tax holiday. Woop. Arizona made it clear the other day that it won’t happen here, and I doubt the idea will ever get off the ground.
Not only has McCain changed his tune, he’s asking for 45 new nuclear reactors by 2030, and pledged $2 billion a year in federal funds to “make clean coal a reality.”
You can bet that’ll get my vote; for Obama.
Florida’s Governor, Charlie Crist has gone on record, changing his position on offshore drilling. Gas prices too high, we must do something now.
Drill Now? How Long Will It Take To Get Some Relief?
Think about it for a minute. There are approximatley 68 million acres of offshore waters under lease by oil companies at this moment, but none are under development.
Let’s say the oil companies decide to get busy and help us poor folks get out of the gas crunch. By the time they set up new platforms, drill, recover and ship crude to refineries, my great-grandchildren will be voting.
How about that for a quick fix?
See my point? It truly is a dog and pony show, smoke and mirrors, whatever, but let’s look further.
Big Oil’s Take On The Problem
In this case, “BIG OIL” is Chevron Corp, whose CEO David O’Reilly told CNN’s Wolf Blitzer that big oil isn’t to blame for high gas prices.
It’s a matter of supply and demand, that’s what we’ve been hearing all along, and it makes as much sense as anything.
Domestic production of crude, according to O’Reilly, has declined over the years, putting America further in debt to foreign oil producers.
Meanwhile, Chevron claims to be reinvesting it’s $18.7 billion profit from last year in new supplies. He didn’t say what constituted “supplies.”
Saudi’s To Increase Production
The world’s leading producer of oil, Saudi Arabia, plans to increase production by 200,000 barrels a day through July. That would bring production up to 9.7 million barrels a day.
The U.S. alone consumes an estimated 20 million barrels a day, roughly half of that amount is imported. I doubt the 200,000 barrel increase in Saudi production will make a huge impact on the world’s thirst for oil, or bring relief to high prices in America.
The rest of the OPEC nations have decided not to make a committment until their meeting on Sept 9th. History has shown they usually follow Saudi Arabia’s lead, but given the instability and tensions in that area, they may just take the money and enjoy.
Environmentalists Are Weakening
I read with great amusement this article in the LA Times, inferring that the environmental movement is now on the defensive.
It’s worth a read, still more of the same as listed above.
What I find most interesting, in this time of environmental awareness, is the call for more oil out of one side of the mouth, while the other side speaks boldly of developing alternative energy sources.
So there it is folks, step right up and get your ticket now, the only cost: A gallon of gas for the greatest show on earth.
Welcome to the circus, are you having any fun, aren’t you glad you came?
CNN’S “Fueling America” site..interesting.
Image Credit: http://www.jamestilley.com/