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POPSWho Will Pay For The Politicians Promises? Because of onerous regulations, it has been 30-plus years since a new refinery has been built. Similar regulations also explain why the U.S. nuclear energy production is a fraction of what it might be. Congress' solution to our energy supply problems is not to relax supply restrictions, but to enact the Energy Independence and Security Act of 2007 that mandates that oil companies increase the amount of ethanol mixed with gasoline. Anyone with an ounce of brains would have realized that diverting crops from food to fuel use would raise the prices of a host of corn-related foods, such as corn-fed meat and dairy products. Wheat and soybeans prices have also risen as a result of fewer acres being planted in favor of corn. Congress' proposed "solutions" to the energy and food mess it has created include a windfall profits tax on oil companies, food stamps, etc. These measures will not solve the problem, but will create new problems.
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POPSGoing After OPEC The real energy problem, in other words, isn't Big Oil; it's Big Government. As with so many other things, President Reagan got it right when, not even a week after taking office in 1981, he signed Executive Order 12287 decontrolling the price of oil and gas. He then ordered his secretary of energy to focus on encouraging U.S. companies to find and produce more. It worked like a charm, bringing oil prices down sharply and OPEC to its knees. By 1986, after a 74% drop in the price of oil, some even doubted OPEC could survive. Such would-be monopolies look invincible when demand rises and prices follow. But when supply increases, prices fall and members start cheating, they look pathetic. This pretty much describes the history of OPEC. Reagan's strategy of energy decontrol would work again today . But this time it's supplies, not prices, that need to be untethered.
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POPSFREE EMAIL S2284 THE SENATE VOTE FOR DOMESTIC ENERGY PRODUCTION What the McConnell amendment would do: •Produce up to 24 billion barrels of oil when fully enacted—enough oil to keep America running for 5 years with no foreign imports. •Allow petitions for leasing activities on the Outer Continental Shelf—an area with 14 billion barrels of known recoverable oil. •As no new refineries have been built in the U.S. in 30 years, give the EPA authority to expedite permits for refineries •Establish a competitive oil and gas leasing program for ANWR •Repeal the $4000 fee for new permit applications to drill. •Repeal the 2007 provision that reduces mineral leasing revenue payments to the states. •Repeal the moratorium on funds to encourage the commercial leasing of oil shale. Isn’t it time Congress came to its senses and voted for U.S. domestic energy production?
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POPSOil Prices Require More Than Congressional Accusations He was correct to remind Americans that if we want to lower the cost of energy we must be willing to use our own resources, whether they are natural or those we can build, rather than rely upon others to provide for our needs. After all, isn’t self-reliance part of the American spirit. We should not recontributely on foreign governments, many of which are volatile, to supply our energy needs, nor should our large farmers rely on Federal Government handouts to prop up their financially lucrative businesses. President Bush was correct to note that Congressional support for farm subsidies will do little other than contribute to the rising prices of food. He was correct to remind Americans that if we want to lower the cost of energy we must be willing to use our own resources, whether they are natural or those we can build, rather than rely upon others to provide for our needs.
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