The focus on energy issues continues today... Item #1: Here is an AP News Alert that came in last night/early this morning:LAGOS, Nigeria (AP) Royal Dutch Shell shuts down production at 200K barrel-per-day oil field after militant attack.Another reduction in supply... Worry not, though, because Democrats have a plan...well, sorta... Maybe I should Rep. Maurice Hinchey (D-NY) explain himself:
“Should the people of the United States own refineries? Maybe so. Frankly, I think that’s a good idea. Then we could control the amount of refined product much more capably that gets out on the market…”This was at a press conference so there were plenty of witnesses and cameras around. Once again, the Democrats solution isn't about increasing the supply, but rather expanding their own power. Not to mention it won't work...
“So if there’s any seriousness about what some of our Republican colleagues are saying here in the House and elsewhere about improving the number of refineries, then maybe they’d be willing to have these refineries owned publicly, owned by the people of the United States, so that the people of the United States can determine how much of the product is refined and put out on the market.”
“To me, that sounds like a very good idea.”
I'll also point out that Hinchley isn't the first Democrat to suggest this route. Here is Rep. Maxine Waters (D-CA) from two weeks ago:
“This liberal will be all about socializing, uh, uh . . . would be about . . . basically taking over and the government running all of your companies.”So, we the American people are left with a few questions...
Item #2: In response to calls from Democrats for Rep. Jean Schmidt to apologize for claiming that China is drilling for oil in Cuba, chief of staff Barry Bennett says this:
"We think it's stunning that the Communists in Cuba know more about the laws of supply and demand than the Democrat party," Bennett said. "China is indeed drilling for oil in Cuba -- on land, not at sea - and seven other country's companies are now in the water drilling exploratory for oil, while the Democrat party ties our hands and prevents us from doing the same."Emphasis added.
This is the first time that I have heard this line... Preliminary investigation reveals this AP story which seems to confirm the assertion.
In May, with much fanfare, Rep. Jeff Flake, R-Ariz., and Sen. Larry Craig, R-Idaho, introduced twin bills to the House and Senate that would exempt Big Oil from the embargo.Emphasis added...and no, I'm not paying $2.50 a word... I'm not digging any deeper than this because when you add "China" to the search on Cuba and oil you get the usual suspects decrying Republicans and no real information...if somebody can prove or disprove the assertion that China is or is not actually drilling for oil on land or near the shores of Cuba, feel free to drop a comment or send in an email.
Before introducing his legislation, Craig told a reporter that “prohibition on trade with Cuba has accomplished just about zero.” Ominously, he added: “China, as we speak, has a drilling rig off the coast of Cuba.” (The senator failed to mention that the Chinese are working in shallow water near Cuba’s shore, and possess neither the technology nor the expertise to tap Cuba’s promising deep-water reserves.)
Item #3: AP News Alert:
BEIJING (AP) State media says China will raise prices for refined oil products and electricity.Subsidies by countries like China is another factor in the demand for oil...
Item #4: Republican Leader, my Congressman and a Great American -- John Boehner -- has a question (updating Item #1):
“With House Democrats calling for a Hugo Chavez-style takeover of American energy production, the American people deserve to know: does Barack Obama support a government takeover of American energy companies?If there was a signle objective journalist left in the 527 media, Barack Obama would get this question...assuming of course, that Team Obama allows the media anywhere near him anytime soon.
“Families and small businesses are being pummeled by gas prices that have soared past $4 per gallon -- who really believes they’d be any lower if Washington bureaucrats were calling the shots?
“This out-of-touch proposal was announced at a press conference yesterday where House Democrats said it would be a ‘very good idea’ for politicians – the same politicians who just voted for the largest tax hike in history – to ‘control’ American energy production. These are the same Congressmen who proposed raising the gas tax by 50-cents per gallon. The same beltway insiders who keep billions of barrels of oil under lock and key. Is this Speaker Pelosi's 'commonsense plan' to lower gas prices?
“High fuel costs are the result of failed policies long advocated by Democrats and their allies on the Left, and exacerbated by their love of red tape and repeated calls for higher taxes. House Republicans have a real energy reform plan that would increase our energy supply while investing in the development of alternative fuels. If Obama wants to prove he’s a different kind of Democrat, he’ll denounce his colleagues’ socialist scheme and support House Republicans’ plan to help lower fuel costs and liberate America from its dependence on foreign oil.”
Item #4A: In the comments, blogger Mark McNally asks a good question:
Does Zach Space agree with Hinchey? Freds people should be asking already.I might get a press release on that in mid-October...unless there is a cowboy story in it.
Item #5: There are two paragraphs out of a long post by Larry Kudlow over at The Corner that I want to highlight:
One reason for all this is economic growth and jobs. A Wharton Econometrics study (hat tip to Mark Perry at Carpe Diem) shows that total employment at full production in ANWR would come to 735,000 new jobs created across the country, not just in Alaska. So not only would offshore drilling and ANWR and other domestic sources of energy reduce prices, they would also be huge job creators to spur the economy. This is something McCain should push.Emphasis added... 735,000 jobs just for opening ANWR...how many jobs would be created by doing all of the offshore drilling and the oil-shale too?
Finally, President Bush made a very strong statement today to lift the moratorium on domestic and offshore production. In his statement he emphasized the oil-shale fields in the Green River Basin of Colorado, Utah, and Wyoming. There is the equivalent of 800 billion barrels of recoverable oil in this area, more than three-times larger than the proven oil reserves of Saudi Arabia.
Item #5A: More Kudlow from that same piece:
That oil shale could create another million jobs, bringing oil prices back down to about $75 a barrel and pushing gas pump prices way down as well.Detractors can feel free to take on Kudlow by emailing him (and please copy me) at lkudlow - at -kudlow.com.
Item #6: CQ Politics has an article about upcoming legislation (read "timewasters") that the Demcorats want to put up this week:
Pelosi, D-Calif., estimated that enactment of one of the bills — aimed at closing the so-called Enron loophole passed eight years ago that effectively deregulated oversight of sophisticated energy investments — could cut the price of oil by one-third by removing much of the "speculation premium." Aides said several proposals have been floated on changing the law and no decision has been made on the legislation’s final form.Democrats are just not serious about this issue...
A second bill will embody Democrats’ proposal that companies who already have leases on 68 million acres of federal land "use it or lose it." Pelosi said that before any thought is given to opening offshore areas to drilling, current leases should be exploited. And she blasted oil companies for not drilling on land they have already leased.
A third bill would provide federal funds to help pay for transit fares and the fourth would comprise anti-price gouging legislation that the House has already passed, she said.
Item 6A: This (from the same CQ Politics piece) is just dumb!
Pelosi reiterated her position that Republican calls for more offshore drilling represent another chapter in a failed policy that has left the United States more reliant on energy imports.The Democrat playbook needs to be updated... "Fill-in-the-blank is a failed policy" is just standard boilerplate and in this case it is total nonsense.
Item #7: A million signatures for Drill Here, Drill Now, Pay Less...
Item #8: AP News Alert:
CARACAS, Venezuela (AP) Venezuela's Chavez threatens not to sell oil to EU nations that adopt new immigration rules.Well now, isn't that interesting...
DEVELOPING...
