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Debunking the arguments against domestic oil drilling
Dan from Gone Mild recently wrote a bitter post decrying oil companies’ “obscene profits” (as if they’re the ones gouging the American public) and trying to assert that McCain is bought-and-paid-for by “big oil” while the Obamessiah is benevolently seeking to bring “yeswecanhopechange” to America.
I felt the need to respond, as this hot-button issue really bugs me.
Whisleblower isn’t lying. Cuba has issued exploration contracts to companies from China, India, Canada, Spain, Malaysia and Norway.Just because they’re not yet “drinking our milkshake” doesn’t make it a lie.
If Bill Clinton hadn’t extended the moratorium on offshore drilling back in 1998 (and his veto on ANWR drilling in 1995), we wouldn’t even be having this discussion. The “it’ll take 10 years to impact gas prices” argument is tremendously short-sighted.
The longer we delay, the longer we extend our dependence on foreign oil and leave ourselves at their mercy. We certainly need to move ahead with renewable energy sources, but our need for petroleum isn’t going to go away any time in the near future.
As far as natural beauty goes, current proposals call for drilling in the Gulf between 100 – 150 miles offshore. And as far as risks go, there are numerous platforms which were subjected to severe weather (even Category 5 hurricanes) with little to no oil spillage.
Domestic drilling for oil needs to be an essential part of our nation’s long-term energy policy, along with nuclear power, oil shale, and coal liquification (liquid hydrocarbon fuel available from American coal reserves exceeds the crude oil reserves of the entire world). There are environmentally responsible ways to use these resources, and we shouldn’t shrink from them simply because oil companies stand to make a profit. Our economy is currently feeling the pain of that kind of class warfare mentality.
What makes our current gas prices obscene is the amount the government is allowed to steal: state and federal gasoline taxes far outweigh oil industry profits. Local, state and federal gas taxes consume 45.9 cents per gallon on average. For example, oil companies make 9.5 cents on every dollar of gasoline and oil sold, in payment for their investments in technology and their work to get their product to the retail customer. The federal government, on the other hand, sits back and collects 18.4 cents per gallon in tax.
And Obama’s idea of adding a “windfall profits tax” – yet another failed idea from the Carter administration – demonstrates his dangerous ignorance of history and economics. We don’t need the kind of change that will lead back to gas rationing and long lines at the pumps.
Oil speculators and OPEC are largely responsible for the ludicrously high prices. And OPEC has no intention of increasing their supplies to meet demand. It’s up to us to create additional sources of fuel for ourselves. Demonizing oil companies for conducting a much-needed business won’t ease our pain at the pump, and current prices demonstrate the foolishness of our hesitation toward independence.
Posted by FullMetalPatriot
12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT
12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT
