Investor’s Business Daily has a great piece on why gas is so high these days. I need to pass it to all of you.
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For the last 28 years, Democrats in Congress and a few Republicans have again and again opposed our drilling for oil in Alaska’s ANWR area when we knew it contained at least 10 billion barrels of oil we could be using now.
IBD Series: Breaking The Back Of High Oil
- For the past 31 years, Congress repeatedly prevented us from building any new oil refineries that we now badly need.
- More recently, congressional Democrats defeated and discouraged any bill that would let us drill in the deep sea 100 miles out. However, it’s somehow OK for China to drill there.
- As a further indictment of our Congress, since the 1980s it has continually stopped all building of nuclear power plants while France, Germany and, yes, Japan, plus 12 other major nations, did build plants and now get 20% to 80% of their energy from their wise and safe nuclear plant investments.
- From 1990 to 2000, U.S. crude oil demand rapidly accelerated by 7.41 quadrillion BTUs, according to Department of Energy data. And our rate of foreign oil dependency dramatically increased while our domestic oil production steadily declined.
Under the eight Clinton years alone, U.S. oil production declined 1,349,000 barrels per day, or 19%, while our foreign imports increased 3,574,000 barrels per day, or 45%.
During this time, President Clinton vetoed ANWR drilling bills that would have clearly made Alaska our No. 1 state in the production of our own vitally needed oil supply, not only for all Americans but also for national defense emergencies.
So were Democrats and members of Congress together merely short-sighted, with only a few having any real business experience?
Continue reading “Who Is Really Responsible For The High Prices You Pay For Gasoline?”