Sunday, July 13, 2008

Energy Policy Timeline: a Helpful Guide

1995 -- Oil at $18 a barrel: Democratic President Bill Clinton vetoes oil exploration in ANWR.

1998 -- Oil at $20 a barrel: Democratic President Clinton issues executive order banning offshore oil and gas drilling.

2001 -- Oil at $28 a barrel: Democrats Bonior, Stupak and Kaptur lead efforts to block Great Lakes oil exploration and drilling in Gulf.

2005 -- Oil at $45 a barrel: Democrat Rahm Emmanuel blocks BP's refinery expansion plans.

2006 -- Oil at $70 a barrel: Democrats block oil exploration in ANWR.

2006 -- Oil at $75 a barrel: Democrats block US companies from drilling off the coasts of the U.S.

2006 -- Oil at $75 a barrel: Democrat Pelosi helps block access to Gulf of Mexico 'natural gas' trove.

2008 -- Oil at $145 a barrel: Judge appointed by Democrat Bill Clinton blocks oil drilling in Michigan.

Last week House Speaker Nancy Pelosi claimed that "Drilling is a hoax! It's an absolute hoax!" And Democrat Senate Majority Leader Harry Reid helpfully added:

The one thing we fail to talk about is those costs that you don’t see on the bottom line. That is coal makes us sick, oil makes us sick; it’s global warming. It’s ruining our country, it’s ruining our world.

Back in the real world, our entire economy runs on fossil fuels.

It will take decades to make the transition to clean technologies, for which the free-market incentives are immense.

The United States is the only country on the planet that intentionally withholds access to its own treasure trove of oil and natural gas.

Historically, the energy policy differences between the two parties are clear:

• For ANWR Exploration -- GOP: 91%; Democrats: 14%.

• For Coal-to-Liquid -- GOP: 97%; Democrats: 22%.

• For Oil Shale Exploration -- GOP: 90%; Democrats: 14%.

• For Outer Continental Shelf (OCS) Exploration -- GOP: 81%; Democrats: 17%.

• For Refinery Increased Capacity -- GOP: 97%; Democrats: 4%.

Writing at Gateway Pundit, commenter Nahanni offers an excellent suggestion.

...I would like to recommended an investment opportunity for all of you. It might prove very lucrative in the coming months. Invest in companies that make torches, pitchforks, baseball bats and rope. I am beginning to think there might be a great demand for them.

Vote accordingly in 2008.

More: John Hinderaker. Cartoons by: Ramirez (hat tip: The Anchoress). Chart: Bespoke Investment Group.

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