Heat Treat Industry News
June 20, 2008
Bush, McCain Call for End to Oil Drilling Ban
Yesterday President Bush at a press conference and Sen. John McCain (R-AZ) on the campaign trail called for an end to the 27 year moratorium on oil drilling in the Outer Continental Shelf, including East and West Coasts and Eastern Gulf of Mexico. Citing dependence on foreign oil as a major factor in skyrocketing energy prices and a deep concern over national security matters, both recognized the opening of oil resources offshore and in parts of Alaska would not be an immediate panacea to the energy situation. Democrats immediately criticized the proposal as selling out to the domestic oil interests (see below) and coastal state governors offered that states should decide for themselves. What people don’t understand is that even though it may take 10 or so years to realize any increased domestic inventory once the ban has been lifted, it will only lengthen the date of the benefit for every year the ban is put off.
Here are some interesting facts:
With regular gasoline at $4.00 +, gas prices haver risen 75% since Nancy Pelosi became Speaker of the House. And this from her press release in Nov 2006 touting the Democrat's "common-sense plan to help bring down skyrocketing gas prices". It's all driven by domestic supply restrictions imposed by the Democratic Congress.
A Gallup Poll released this May showed that 57% of the American people wanted the U.S. to drill in coastal and wilderness areas. The percentage of Americans who bought Pelosi's "gouging of prices by oil companies" fell from 34% in May of 2007 to 20% in May 2008.
BUT THERE'S MORE - The U.S. Congress has voted consistently to keep 85% of America's offshore oil and gas off-limits, while CHINA and CUBA drill 60 miles from Key West, FL.
AND GET THIS - There are 3,200 oil rigs off the coast of Louisiana. During Katrina, NOT A SINGLE DROP WAS SPILLED.
Listen up Senators and get the facts!
Source: Metal Treating Institute - 19 June 2008
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