• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Video: Gas Prices Up, Oil Still Down in the Ground

    It’s summer and that means gas prices are creeping up and although projections indicate we’re not headed toward $4-a-gallon gas; last summer was a fresh reminder of just how quickly gas prices can skyrocket. Despite America’s overwhelming public support for more drilling, the White House has put many drilling projects on hold. While the oil wouldn’t be commercially available for years, the time to get started is now, and there may be far more oil in Alaska and immediately off its shore than previously thought.

    [youtube]http://www.youtube.com/watch?v=vDDO_w3DtsU [/youtube]

    What about other countries?

    [youtube]http://www.youtube.com/watch?v=CwijuHoKCWw [/youtube]

    Now that there’s more oil, it surely must be worth doing, right?

    [youtube]http://www.youtube.com/watch?v=PG-6gxV0_HU[/youtube]

    Whether it’s worth drilling or not is a decision that is left for the private sector to decide rather than the government. With a very much improved environmental track record, improved technologies to make drilling more efficient, and more knowledge about drilling, the oil industry, as Lieberman asserted, are the ones to weigh the costs versus the benefits.

    Instead of expanding energy supply, policymakers in Washington are strongly considering policy that would raise the price of gasoline. More from Lieberman:

    “The proposed American Clean Energy and Security Act of 2009 – introduced by Democratic Reps. Henry A. Waxman of California and Edward J. Markey of Massachusetts – essentially would limit how much gasoline and other fossil fuels Americans can use. The aim is to cut our emissions of carbon dioxide from energy use, which proponents of the bill claim is warming the planet to dangerous levels. Under this proposal, prices would have to rise high enough so the public would be forced to drive less and meet the ever-tightening energy rationing targets.

    For more on cap and trade, visit Heritage’s Rapid Response page.

    Posted in Energy [slideshow_deploy]

    7 Responses to Video: Gas Prices Up, Oil Still Down in the Ground

    1. Pingback: » Financial News Update - 06/01/09 NoisyRoom.net: “Extremism in the defense of liberty is no vice. Moderation in the face of tyranny is no virtue.” Barry Goldwater

    2. Normca says:

      When do the American people wake up and see who it is costing us for gasoline and heating fuel ? Living in CA it is evident that most people in LA do not drive cars; right ? They continue to vote for Henry Waxman and the rest who block drilling Gee, we like to pay $4.00 per gallon to the Saudi's for our fuel for our SUV's. "We do not like coal, we do not like Nuclear and finally we want our SUV's. say the liberals in Los Angeles and points north. Thanks allot.

    3. Tom Iowa says:

      Once again, another lie by Obama. If elected I will not curtail the drilling of oil in the U.S..

      Right back where we started from.

    4. Tucson Tumbleweed says:

      No pun intended, but the Obama Administration, liberal Democrats and oil speculators continue to "hose" American truckers and consumers by driving up oil pricing for purely selfish reasons.

      The Liberals say America needs to be weened from our glutiny of foriegn oil consumption. They drive oil costs up by placing unrealistic CAFE standards on vehicles not yet built, or offer alternative modes of transportation, (electric hybrids)that are cost-prohibitive to the "average" consumer's budget and can only transport two pigmies across town before battery replacment.

      The Liberals say our carbon foot print needs to be reduced drastically, and immediatley, or Mother Earth will begin its deadly spiral and transform into a toasted cinder block. They conveniently forget about nuclear power as the clean energy source. Why? Becuase nuclear energy is already proven, regulated and safe. They can't create their new wealth and power unless they regulate thru a new energy source called "green".

      Then there's those financial rascals called speculators. I've never met one, but I'm sure they put their pants on the same way I do – well, maybe not. These individuals enjoy gambling at my expense. They create markets that "are not". They are profiteers at heart and have no soul. They are enablers to the Left's delight because they force diesel and gas prices into new orbits. Liberals tingle over high petroleum prices – this helps their green agenda by forcing Americans to buy vehicles they don't need or want.

      And about all those untapped oil fields in Alaska….. do you really think the controlling Socialist Democraric Party wants to send billions of greenbacks (no pun intended)to their arch-rival, Sara Pailin!! When hell freezes over.

    5. Lloyd Scallan - New says:

      When we are paying $10.00 a gallon for gas and cannot efford to heat our homes, thank an environmentalist. More oil is available in easy to reach areas than we could use in ten lifetimes. We don't need to drill under the Polar Cap. Just within the past few weeks the Obama lackies cancelled an oil lease sale in the western Gulf of Mexico where millions of barrels of oil and billions of cubic feet of natural gas remain untaped. The environmentalist and Obama want us to remain dependent on oil from the middle east and South America. When those oil fields are no longe available to us bacause of wars or dictators, we all loose. That's exactly what they want. If we could drill for demostic oil, we don't have the refineries to process the crude because of environmentalist that stopped permits and construction. The danger of oil spills from drilling is nothing more than a farce. The transportation,(such as the Exxon Alaskan spill) is the real danger, not in the drilling. Waxman, Markey, and their ilk, that contine to support these radical left environmentalist, use the lie of global warming, as just another tool to distroy capitalism.

    6. Richard Bulgarelli says:

      The President who wants to restict domestic oil drilling and pay more to the Saudi's for oil is the same President who petitioned the courts to exempt three Saudi princes from being prosecuted for 9/11 envolvement.

    7. Lynn B. DeSpain says:

      Every year of my sixty plus years, the price of gasoline has gone up in the Summer. From Memorial Day to Labor Day, with sometimes different excuses, sometimes the same excuses. The pitifull part is that the Federal Government always excuses the excuses! When are we ever going to call the Feds to task for excusing these actions, and when are we going to tap our own resources?

      Hozro

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×