Ironically filed under the heading "Fact Check," Nancy Pelosi outlines the Democrat's Energy Plan in her article of 08/06/08, Setting the Record Straight on Republican False Claims on Energy, and makes the false claim that the "Republican plans to drill on protected lands will result in only a 2 cents savings more than 10 years from now. "
Pelosi's statement is no doubt in response to the "all of the above" approach included in the Republican House Bill 6566, The American Energy Act. (Discussed below)
Consumers have already saved more than 2 cents immediately following President Bush's announcement to remove the executive-branch moratorium on offshore drilling, July 14. The announcement alone caused oil prices to drop $9.26 and it kept on going. But don't believe your lying eyes, Nancy.
Pelosi's idea of increasing oil supply is to release oil from the Strategic Petroleum Reserve. There are clues in the title for you, Nancy. You'll find them craftily hidden in the words "strategic" and "reserve," of all places. The Strategic Petroleum Reserve is a "strategy" to ensure ample "reserves" of oil in the event of an emergency -- say like, if we're attacked by our enemies or if our Arab friends decide to cut us off. Only our Reserve will keep our Military functioning and America secure in such a crisis. What a fine President this gal would make, huh? To hell with securing America, secure the votes.
Pelosi goes on to "demand" that oil companies "produce" oil on the "68 million acres they already have leased for drilling." Well, Nancy, if you would talk to the oil companies you'd learn they ARE drilling on them. More than 4,700 new holes, if not more, are being drilled on current onshore leases. Other leases are not as productive as we need, and therefore it would be STUPID to insist that they waste time and money producing little to nothing.
The Democrat's plan is almost, if not, ludicrous, with the one exception: their plan to "end undue speculation." This has merit. In short, they want legislation to restore the controls imposed by the Federal Commodities Trading Corporation. We should be thinking strongly along these lines. Gamblers should not be betting on the oil market; let them play the horses.
And of course, the Democrats want to invest in renewable energy... like who doesn't? Ultimately, the answer to ending high gas prices is to do everything.
Well, guess what?
The American Energy Act is the "all of the above" approach to our energy problems. It's the bill that allows for the development of American sources of oil to lower gas prices, but also recognizes that oil must be used as a bridge to a much more diversified energy future.
The American Energy Act (H.R. 6566) would:
- Open our deep water ocean resources and the Arctic coastal plain to drilling and allow development of our nation’s shale oil resources
- Provide a monetary prize for developing the first economically feasible, super-fuel-efficient vehicle reaching 100 miles-per-gallon
- Provide tax incentives for improving energy efficiency
- Spur the development of alternative fuels
- Establish a renewable energy trust fund using revenues generated by exploration in the deep ocean and on the Arctic coastal plain
- Permanently extend the tax credit for alternative energy production, including wind, solar and hydrogen
- Eliminate barriers to the expansion of emission-free nuclear power production
Tell Congress you want the "All of the above" approach to America's energy future. Tell them you support the American Energy Act - and you expect them to as well!
The Democrat leadership is stalling on this issue. Tell them you want a vote NOW!
Better yet! e-Mail Nancy: http://speaker.house.gov/contact/