The left’s favorite talking point in the offshore drilling debate is dragging out the same Energy Information study predicting that lifting the Outer Continental Shelf exploration ban “would not have a significant impact” on oil prices. We have already documented how poor the EIA’s record is at predicting future oil prices, but now the Institute for Energy Research has identified specifically what makes that 2007 study’s conclusion suspect: Historically, technological improvements and on-site exploration and development have increased technically recoverable resource estimates. For example, world proved oil reserves were estimated …
Political experts across the country keep asking why Barack Obama continues to conspicuously fail to cross the 50% threshold against John McCain despite the fact “Democrats enjoy the most favorable political winds since at least 1976.” It may have something to do with the fact that the top issues on voters’ minds this year are energy and the economy, and voters just are not buying the left’s solutions. Look closely at the laundry list of plans the left has put forward (from both Speaker Nancy Pelosi’s House and Barack Obama’s …
The Politico reports today that according to Democratic House aides, Speaker Nancy Pelosi’s “energy agenda has been carefully gamed out in strategy sessions” with Pelosi taking “heat on gas prices while tacitly encouraging more vulnerable Democrats to publicly disagree with her and show their independence.” One senior House Democratic aide said, “The reality is we will have a new president in three months … we have many more options postelection.” To deflect “heat” on energy prices in the short term, Pelosi is advocating releasing oil from the Strategic Petroleum Reserve …
Speaker Nancy Pelosi won’t allow C-SPAN show what happened on the House floor on Friday, but thanks to YouTube you can catch a clip here: [youtube]http://www.youtube.com/watch?v=_7teE7qKwl8[/youtube]
This Sunday, Speaker Nancy Pelosi again promised to use all her power to prevent the House from voting on any measure that would allow new oil exploration in the Arctic National Wildlife Refuge and the Outer Continental Shelf. A majority of Americans support new oil exploration in these regions. Pelosi has tried to prevent the House from even debating whether or not to increase domestic energy production, but this past Friday a small group of conservatives took over the House floor after Democrats voted to go on a five-week paid …
Unless the House acts today, it will be the first time since the 1950s that lawmakers left for August recess without passing a single appropriations bill. It took one issue to bring the appropriations process to a screeching halt: energy. Instead of allowing even a single debate or vote on the issue, the liberals who control Congress have shut down all work on setting spending priorities for the federal government. Explaining why she refuses to allow a vote on expanded offshore drilling Speaker Nancy Pelosi told Politico: “I’m trying to …
Today’s New York Times carries a story titled “Strong Economy Propels Brazil to World Stage” and reports: It has greatly diversified its industrial base, has huge potential to expand a booming agricultural sector into virgin fields and holds a tremendous pool of untapped natural resources. New oil discoveries will thrust Brazil into the ranks of the global oil powers within the next decade. … Petrobras, Brazil’s national oil company, shocked the oil world in November when it announced that its Tupi deepwater field offshore of Rio de Janeiro could hold …
More than 75% of the world’s oil reserves are controlled by national oil companies. Of the world’s top 20 oil-producing firms, 14 are state-run. Those areas where private companies have been able to drill have recently been shrinking, and remaining private companies are facing hostile governments that may try to nationalize them. Meanwhile, Congress, pandering to the least economically sound sentiments of the American public, recently tried to pass a bill to curb oil market speculation. This, lawmakers argued, was the way to get prices down. Speculation is just trading …
Critics of expanding domestic oil drilling into currently restricted areas such as the Arctic National Wildlife Refuge (ANWR) and the 85% of our territorial waters that are off-limits often dismiss the extra energy as a “drop in the bucket” — too small to ever make much difference in the global price of oil. But daily events strongly suggest otherwise. It is remarkable how much the price of a barrel of crude changes from day to day. Moves of one or more dollars per barrel are common, even on relatively slow …
Not oil! In a Washington Post puff piece helping Speaker Nancy Pelosi sell her new book, “Know Your Power,” Pelosi is quoted: “The men had ruled the roost for such a long time, and they liked that environment. They had this attitude of, ‘We know how to get this done, and there’s a secret sauce to it.’ They never said it that way, but that’s how I heard it: ‘There’s a secret sauce, and you can’t possibly know the recipe because we do.’” Well it sure didn’t take long for …
