Obama, Pelosi and Reid Quash Attempts to Open Offshore Drilling

July 30, 2008

House Speaker Nancy Pelosi (D-Ca) and Senate Majority Leader Harry Reid (D-Nev), with tacit approval of Barack Obama are continuing to quash attempts by Republicans to bring legislation to a vote that would allow the US to join China off our shores by opening the Outer Continental Shelf to exploration by US companies. This action virtually assures higher oil prices and continued painful gasoline prices for the foreseeable future until alternative energy technologies are able to become fully integrated into the automotive scene and begin reducing America’s dependence on oil.

Nancy Pelosi & Harry Reid

Nancy Pelosi & Harry Reid

The move, if successful, will assure that the US will continue to send Middle Eastern countries like Iran, Syria and Saudi Arabia $700 million a year that could just as easily be spent here, within our borders, until we complete the switch to alternative energy vehicles.

Recent polls indicate that about 75% of the American public wants the Democratic supported ban on offshore drilling lifted but the Democrats, through their spokesperson, Nancy Pelosi have made their position clear, that “saving the planet” is far more important an agenda than working to lower gasoline prices and, if they need to enforce their agenda at the expense of the American public, well so be it.

The move by both Pelosi and Reid, who likewise is blocking attempts to bring offshore drilling to a vote in the Senate, has the tacit approval of Senator Barack Obama, the self proclaimed “symbol of the possibility of America returning to our best traditions” and presumptuous heir to the Clinton throne, who continues to try to convince American’s that the solution to high oil prices is to tax oil companies while restricting oil speculation in American oil (despite unlimited futures market trading on the other 92% of the world’s oil production).

Pelosi also made it clear that it is she, and not the electorate, who wield the power in America when she said, “When you win the election, you win the majority, and what is the power of the speaker? To set the agenda, the power of recognition, and I am not giving the gavel away to anyone.” With 75% of Americans disagreeing with her, she obviously is adding the American people under her designation of “anyone”.

Additionally, some pundits are suggesting that another reason for Pelosi and Reid blocking the certain approval of renewed offshore exploration is that this is a political strategy to avoid having Obama either skip the vote or, worse yet, vote against the measure, thereby jeopardizing his electability. Obama has previously endorsed higher gasoline prices indicating in his campaign that he is simply a little disappointed they came so quickly.

Foreign Drilling in the Gulf of Mexico

Foreign Drilling in the Gulf of Mexico

Needless to say, Alt-EnergyStocks.com supports the rapid deployment of alternative energies, particularly in the area of transportation, the single biggest use of petroleum, and we recognize that it’s essential that the government provide reasonable incentives to accomplish this end. However, it is unreasonable in the highest order to expect that the US fund terrorist activities and wreak havoc on the economy by spreading $7 to $10 Trillion around the Middle East while expecting Americans to endure ever increasing gas prices for the next 10 years while we complete the difficult transition. It goes from unreasonable when one considers that we will be watching China and other foreign countries aggressively drill and drain the rich reserves off the coast of America while we are prohibited from joining them.

The oil crisis is a simple problem of supply and demand and the solution is equally as simplistic, increase supply while reducing and eventually eliminating demand. We have predicted that oil will be $20 a barrel by 2020 and we made that prediction based primarily on our ability to sufficiently reduce demand through alternative energy innovations but aided by increased production. America will increase production, it’s what the people want and what the country needs. We can eliminate our oil dependence without drilling another well but the cost to the economy would be disastrous and no American deserves to suffer that much… with the possible exception of Madam Polosi and Messrs Reid and Obama.


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