SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Politics of Energy

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Brumar89 who wrote (1070)7/30/2008 4:19:39 PM
From: RetiredNow  Read Replies (2) of 86352
 
Looks like the Dems are doubling down on drilling opposition. I think this is the wrong strategy, although I understand why they are doing it. They are running a big risk sticking to drilling opposition when the majority of Americans want to move forward with it.

I do agree with his bottom line conclusion, though, which I highlighted below. If it were me, I'd work with Republicans to pass a bill to drill more, but on condition that they pass the alternative energy credits bill that's on the docket right now, and that they promise to work towards passage of a comprehensive energy strategy in 2009.

Obama calls offshore drilling a 'scheme'

politicalticker.blogs.cnn.com
Posted: 12:30 PM ET

From CNN Election Center's Joe Von Kanel
Obama opposes offshore drilling.

(CNN) — Sen. Barack Obama stood his ground Wednesday in opposing what he calls the "scheme" of offshore drilling, during a campaign event in Springfield, Missouri.

"The oil companies are shoving this thing down the throats of Congress, because they know everybody wants to try to pretend they're doing something about the energy crisis,” Obama said. “This is not real. I know it's tempting. The polls say its one of the ways that a majority of Americans think we're going to solve this problem, but it's not real."

"I understand how desperate folks are. If I thought that I could provide you some immediate relief on gas by drilling off the shores of California and New Jersey… I'd do it.”

But the Democratic presidential candidate added, "The soonest you would see any drop of oil from drilling off our shores would be 10 years from now….The most you would end up saving 10 years or 20 years from now would be a few cents on the gallon, although at that point, I figure oil might be $12 a gallon."

Citing the oil companies' record profits, Obama charged that they are, "making money hand-over fist, they're making out like bandits."

For more on the the latest political news, tune into Campbell Brown: Election Center tonight at 8 pm ET.

Obama then proposed his own answers: "First of all, let's make the oil companies drill where they're already got leases, let's increase supply by making them do what they're supposed to do."

Obama also said he wants to make sure speculators aren't manipulating the oil markets.

To a standing ovation, he said, "And let's get serious about alternative energy sources like solar and wind and bio-diesel. Let's raise fuel efficiency standards on cars. Let's get plug-in hybrids all across America. Let's finally free ourselves from dependence on foreign oil. That's the direction we need to go."
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext