Saudi Oil Worth More to Democrats Than American Oil?
Daily oil production on the coastal plain of the Arctic National Wildlife Refuge, an area which Congress originally designated for oil exploration when it set up the refuge, is estimated by the Energy Information Administration (Dept. of Energy) to be able to produce approximately 1, 000,000 barrels of crude oil per day.
With current imports of foreign oil running over 12,000,000 barrels per day (EIA chart), production of one million barrels of U.S. oil would be an important first step to energy independence.
But this is how Senator Charles Schumer dismissed the benefits of ANWR in an April 28 press conference:
SCHUMER: What does the president do? He takes out the old saw of ANWR. ANWR wouldn’t produce a drop of oil in ten years, and it’s estimated that if they drilled in ANWR, in 20 years it would reduce the price one penny. We’ve been pushing for a long time for energy efficiency. We believe in a price-gouging bill so that the big oil companies can’t collude. We believe that there’s too much speculation in the markets, and we believe that ought to be reined in.
So why did he say this two weeks later on the Senate floor:
SCHUMER: If Saudi Arabia were to increase its production by 1 million barrels per day that translates to a reduction of 20 percent to 25 percent in the world price of crude oil, and crude oil prices could fall by more than $25 dollar per barrel from its current level of $126 per barrel. In turn, that would lower the price of gasoline between 13 percent and 17 percent, or by more than 62 cents off the expected summer regular-grade price — offering much needed relief to struggling families.
One penny for American oil but 62 cents for Saudi oil?
The Current American Mood on Congressional Ianactivity ::D
What a complete dog and pony show the Senate and the House has put on over the past two days grilling oil execs when they know full well that as world production has leveled off, demand has sky-rocketed. How many people actually know that since the early 90’s (because of fuel efficiency and improvement in transit systems) this country’s demand for oil has barely changed?
How many people know that underneath the high, scrub-covered rangeland of northwest Colorado is the world’s biggest oil field? The area’s deposits of oil shale are believed to be larger than all the oil reserves of the Middle EastLINK
The fact is that the left wing anti-business enviro-nuts have choked this nation from producing our own vast oil reserves for the better part of thirty years while we have become slaves to the Middle Eastern countries and nutcases like Chavez.
Maybe when gas gets up to $15 bucks a gallon this nation will wake up to the reality that “progressives” would prefer that we live in the stone ages to once again become one with nature.
Watching Wasserman-Schultz, Dem Congressperson from Florida earlier today on Cavuto.
She caught a bad case of the vapors when Neal mentioned maybe we should drill for our ‘own’ oil instead of depending on the Saudis, Chavez, etc.
This wuss stated she was NOT going to allow oil drilling as it would affect her state’s greatest industry, tourism. I just screamed at the TV for Cavuto to ask her just how in hell that tourism industry would be working out with 10 bucks a gallon gas and no one was traveling to her fair state.
Jeez! I would have nailed her wussy butt to the cross with that question, but not good old Cavuto.
Course she was spinning like a top and he didn’t get many words in edgewise.
Welcome to the 21st century of Shangra-la