Sunday, July 22, 2007

Democrats Support Higher Oil Prices (and Higher Taxes)

Chart-of-the-Day offers an intriguing multi-decade view of oil prices, adjusted for inflation (hat tips: EagleSpeak and Larwyn).

The price of crude oil is rising once again. Today's chart provides some perspective to the latest price spike with a long-term view of West Texas Intermediate Crude. One point of interest is that oil is trading near 25-year highs but still well below the inflation-adjusted highs of 1980. It is also interesting to note that most oil price spikes were a result of Middle East crises and often preceded or coincided with a US recession.

Despite the catastrophic damage that high oil prices can wreak on our economy, Democrats oppose virtually every measure that would relieve the pain on average Americans.

The accompanying map depicts "The No Zone." This is the region surrounding the United States in which Democrats have blocked oil exploration.

Democrats oppose drilling in deepwater, even though Hurricanes Katrina and Rita proved that modern offshore drilling platforms pose little or no pollution risk. Democrats oppose exploration in a tiny, postage-stamp sized region of Alaska. As for new refineries or nuclear energy, well, the Democrats oppose those, too. The net impact of Democratic behavior is that America will become increasingly dependent on foreign oil.

While alternative energy sources remain an admirable goal, they are decades away from becoming serious alternatives to oil. For good or bad, America's economy and national security hinge on access to oil. Ben Stein comments:

...If we lost all oil and gas products tomorrow, ...the world would simply collapse. There would be an immense depression beyond anything we saw in the 1930s -- the economy would go back to a primitive state. There would simply not be a functioning society. It would be as if there had been nuclear war, minus the casualties from blast and radiation... In a word, we cannot as a modern society or even a modestly industrial society live without oil and gas. That is, [it is not] a luxury or a narcotic. [It is] a basic necessity of life, as basic as almost any commodity there is.

The Democrats like to pretend that oil is a needless luxury by preventing exploration in sensible locations. But, in the mean time, Cuba is permitting foreign countries to drain the Gulf of Mexico of its oil. Cuba granted China drilling rights in the Gulf. And, in fact, China will be drilling within 50 miles of Florida.

While countries such as China suck oil out of the Gulf, Democrats continue to stonewall against sensible energy policies.

Act accordingly in 2008.


Anonymous said...

The Great Lakes should be included in the red "no drill zone" as Gov. Grandstand and the Dems in MI. have prevented even slant drilling to potential sources there.

Anonymous said...

How are you liking that oil disaster in the gulf? Drill Here, Drill Now, Pay Less...and have a disaster on your hands...and in the water and on our shores.

Anonymous said...

They can't drill in the great lakes. If something went wrong there would be a loss of fresh water supply.
Oil is not something we need to survive in the future. We should have been using alternative energy for the last 25 years or so. Of course we can't get rid of oil over night, but we should already be well into alternative energy. Wind power and the power of the tides create a lot of electricity. The problem is there is no money in to be made like making the world slaves to oil. We do need oil for certain things, but not everything, and not forever.

Anonymous said...

Hey anon, you act like there will be an oil spill wherever we drill. Ineptitude caused that oil spill and I doubt that would happen again so easily. We're not fully integrated into hybrid technology to start weaning of oil. You're also forgetting the aviation industry. You're going to kill it if you continue to block oil drilling and prices continue upward.

Anonymous said...

Hey Anenemaous, nice to see that you don't let things like science and physics get in the way of your fantasies! Get real, nuclear and fossil fuel are the ONLY realistic alternatives for the next several generations...if not more...unless your alternatives include global depopulation by 90%...which I'm sure that's precisely your "idea". Go look up the law of conservation of energy for starters, then maybe take a few math and physics courses, then come back and talk to us.