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Republicans Catching Up?

The weeks after the inauguration of President Obama, the media has made a lot of the fighbting between the Republican factions. This could be highlighted by the fracas between new RNC Chairman Michael Steele and Rush Limbaugh. There are also other elements of inter-partisan warfare, with the Democrats gloating.

With the mandate that the President received on November 4th, as well as the fighting within the opposition, then the Democrats should be far and away from the Republican field for 2010. Yet, at least according to one poll, they're behind! How did this happen?

Now, this is not to say that the American people have all of a sudden moved over to the right again. Nor is it saying that we'll feel this way in a year and a half. Instead, it shows that we are suspicious of all of the projects, and the psychological effects that they are having on the stock market.

We're getting tired of the bailouts and the stimuli, and just waiting for them to work. We've spend almost $2 trillion on these in the last two years, without much to show about it. Undoubtedly they will stimulate the economy, but will they do so anywhere near the price tag? Or will it cause rampant inflation.

America also sees that we're not giving enough focus to energy. Not enough money is going to alternative fuels, and oil drilling has been curtailed. There's an uneasy feeling that gas prices may head up again.

So is this a crisis for the White House? No. But it should be a warning.

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How to Solve Our Dependence on Foreign Energy

Even with gas and oil prices dipping over the last six months, we have to keep in mind that unless we do something drastic this is only temporary. When the economy comes back online, expect the return of four dollar gas. Oil could again reach near $150 and a prolonged economic growth period could push gas near six dollars.

In order to attempt to reverse this potential future, the government and our business leaders need to make the decision that we should be less dependent on foreign energy. Everyone states how they'd like to do this, but it's imperative that we act boldly, especially while our enemies like Iran, Russia, and Venezuela have smarting economies.

So here's my plan. If you don't like it or feels that it doesn't go far enough, feel free to comment. If you think it's a good idea, email it to people you know to begin a chain that could end with Congressmen and Senators. It's time to act, and I think that it's about time.

What We Need to Do:

1. Relax restrictions on drilling for most domestic areas-- basically anywhere that won't really damage the environment. Make oil companies pay 25 cents on the dollar of profits from this new land opened in reinvestment, the "greening" of their facilities and automobiles, and the expansion of alternative energy.

2. Have the Congress invest $50 billion over the next 5-10 years in ethanol production in Brazil. Sugarcane in Brazil produces much more ethanol cheaper than corn, and avoids the fuel/food scenario. Have these fields owned by our government, with the ethanol being sent to the US tariff and tax free.

3. Create wind, solar, and geothermal energy on federal land, including solar panels on federal buildings. Phase out gasoline and diesel cars from federal and state vehicles, and phase in CNG, biodiesel, and ethanol cars.

4. Provide $50 billion over 10 years for the construction of ten synthetic coal-to-oil plants.

5. Eliminate most or all taxes on Compressed Natural Gas, and push for more drilling.

6. Mandate that all newly built homes and businesses be constructed with either solar panels or a small wind turbine OR have the owners pay a waiver to the federal government.

7. Allow the construction of more refineries and nuclear plants.

This plan is definitely expensive, but if carried out, could save us the amount it costs overall in just one year. This could be our ticket out of ALL energy entanglements with other countries (except Canada, Mexico, and Brazil.) Make this message count, send it to those who want to make a difference!

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Obama Setting Us Up For $5 Gas

Now with gas prices down near $2, the United States should be attempting to twist the knife on our enemies in Venezuela, Russia, and Iran. Instead, we are allowing the same old policies continue, i.e., the opposite of change. The government may overturn President Bush's allowance of oil drilling off the coasts of the United States.

While this drilling would not end our dependence on foreign oil, it would definitely take a big bite out of it. And to use this time, the time of a recession, to squash jobs-producing work which would stimulate the economy is the wrong sign.

We could continue the drilling, and give tax credits for the drilling of natural gas. We could fund coal-to-oil synthetic fuel plants and have the offshore rigs be powered by solar panels. But we have to do something. Sitting around blaming Bush for doing something good is not only stupid, but counterproductive.

The Bush proposal "opened the possibility of oil and gas leases along the entire Eastern seaboard, portions of offshore California and the far eastern Gulf of Mexico with almost no consultation from states, industry or community input," Salazar said at a news conference in Washington. "In my view it was a headlong rush of the worst kind."

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"Drill Like Brazil"

From the recent issue of IBD about how Brazil is investing billions into fuel production.... They produce ethanol and oil. Massive amounts, too. Maybe we should get on the bandwagon.

Such investments could have a similar beneficial impact on the American economy, and the irony is that the oil companies are willing to use their own money here if we let them. Yet, even more restrictions on U.S. domestic production are planned.

Thanks in part to a relentless pursuit of domestic energy resources to complement its ethanol production (an "all of the above" energy plan like that proposed by Republicans during the campaign), the Brazilian economy grew 5.8% in 2008 and is projected to expand 2.9% even in a tough 2009, according to the median estimate of 16 economists surveyed by Bloomberg.

...

A study by ICF International, commissioned by the American Petroleum Institute, finds that by 2030 the domestic energy resources that Congress has placed off-limits in ANWR, in Rocky Mountain shale and in the Outer Continental Shelf could increase U.S. crude-oil production by 36%, generate more than $1.7 trillion in government revenue and create 160,000 jobs.

How Low Will Oil Prices Go?

The national average price of gasoline has fallen to $2.22 and the price of a barrel of oil has fallen to near $56.

Now, with the slowing global economy, will oil prices continue to fall? Some factors point to yes: 1. U.S. promises to drill more may flatten oil prices. 2. Increased ethanol production cuts down on gasoline demand. 3. If people don't have additional money because they're saving, the less they spend on gas. 4. If you're unemployed, you're not commuting to work every day.

But other factors point otherwise: 1. Obama wanting to restrict domestic oil drilling. 2. Cheaper gas prices may encourage people to travel just from the low prices. 3. Saudi Arabia has stated that it doesn't want oil to fall below $50. A drastic cut in oil production could spike prices. 4. A terrorist threat in the Middle East could cause a price spike.

So, where will oil be in six months? I'd guess around $75 with gas around $2.80.
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Can Someone Explain This to Me? Part 3

What in the...Why is Sen. Obama planning to ban domestic drilling for oil? How does that even start to make sense?

Let's see, if we do drill, we will get oil from our own lands, lower our dependency on foreign oil (and in effect give less money to terrorists), bridge the gap until new technology is feasible, lower oil prices (because of an increase in supply), create new jobs, and help our economy.

If we don't, we will continue to buy more oil from overseas, oil prices will increase (less supply, more demand), and we will further be dependent on foreign nations.

I don't even see it can make sense not to drill. Please, how does this make sense in the least?

Obama: We Don't Need Oil

President-Elect Obama has already announced a major step back in his emerging Presidency. Obama stated that he will reverse President Bush's order to allow oil drilling on public lands.

Unfortunately, with our dependency on foreign oil actually increasing, we cannot afford to stop drilling. Perhaps McCain was right about expanded drilling.... And oil prices are actually falling. This is our chance to drive in the knife to OPEC and drive oil under $50.

With Iran's nuclear program proceeding and their belligerency scathing, why are we not drilling?