Wednesday, July 2, 2008

WSJ: Obama's Dry Hole

Obama's Dry Hole -

The link above goes to The Wall Street Journal articvle that will be available for a few days. I would have called it Obama's gaping ignorance of economics and energy development. But in truth I don't think he Obama is ignorant or stupid. Unfortunately that only leaves me with deceitful liar so I will stick to gaping ignorance for now. The others mentioned in the article are all also politicians and can be assumed to totally lack intellectual integrity. Here is alittle bit of the article in case it stps being available.

I want you to think about this," Barack Obama said in
Las Vegas last week. "The oil companies have already been given 68
million acres of federal land, both onshore and offshore, to drill.
They're allowed to drill it, and yet they haven't touched it – 68
million acres that have the potential to nearly double America's total
oil production."

Wow, how come the oil companies didn't think of that?

Perhaps because the notion is obviously false – at
least to anyone who knows how oil and gas exploration actually works.
Predictably, however, Mr. Obama's claim is also the mantra of Nancy
Pelosi, Barbara Boxer, John Kerry, Nick Rahall and others writing
Congressional energy policy. As a public service, here's a remedial

Democrats are in a vise this summer, pinned on one
side by voter anger over $4 gas and on the other by their ideological
opposition to carbon-based energy – so, as always, the political first
resort is to blame Big Oil. The allegation is that oil companies are
"stockpiling" leases on federal lands to drive up gas prices. At least
liberals are finally acknowledging the significance of supply and

To deflect the GOP effort to relax the
offshore-drilling ban – and thus boost supply while demand will remain
strong – Democrats also say that most of the current leases are
"nonproducing." The idea comes from a "special report" prepared by the
Democratic staff of the House Resources Committee, chaired by Mr.
Rahall. "If we extrapolate from today's production rates on federal
lands and waters," the authors write, the oil companies could "nearly
double total U.S. oil production" (their emphasis).

In other words, these whiz kids assume that every acre
of every lease holds the same amount of oil and gas. Yet the existence
of a lease does not guarantee that the geology holds recoverable
resources. Brian Kennedy of the Institute for Energy Research quips
that, using the same extrapolation, the 9.4 billion acres of the
currently nonproducing moon should yield 654 million barrels of oil per

I still advocate in all seriousness that you vote against any incumbent running for office in your area. vote all of them out, frenchocrat or republicant. From the county court to the Senate. Time to send a message that we don't want these self important corrupt lying gasbags in Washington for even one more day.

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