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More drilling can be a help in energy crisis

Friday, July 18, 2008

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THE ISSUE: Energy exploration

OUR OPINION: Leaders should push plan for more drilling in designated and new areas

It is widely understood that America must look for energy alternatives to oil. We will not drill our way out of an energy crisis brought on by supply, demand and speculation.

BUT, expanding the supply of oil from domestic sources is part of a short- and long-term strategy to alleviate pressure on prices that are ravaging the economy as more and more consumer dollars are spent on energy.

Critics say expanding oil exploration domestically will have no impact on the present oil crisis as any supplies would be a decade in reaching the market. There also are real issues about refining capability. BUT, there is reason to believe that a decision now to expand offshore oil exploration could have an impact.

Consider that the run-up in oil prices over the past year has largely been a product of speculation on commodities markets. As long as supplies are under pressure and demand continues to grow, prices will not go down. BUT, aggressive moves to expand the U.S. oil supply even as Americans are using less energy will reverse the course. Prices will begin to go down.

Now comes the task of getting our leaders on the same page when it comes to how to go about increasing supplies.

President Bush on Monday lifted an executive order banning offshore drilling in most domestic waters, a move that will have little or no impact unless Congress lifts a companion prohibition on such drilling.

South Carolina U.S. Sen. Jim DeMint is among leaders calling on Congress to act now, before the August recess, to lift the ban.

“Since Americans can’t just take a break from high gas prices, Congress should not go on summer vacation without ending the Democrat blockade on domestic drilling to reduce energy costs,” DeMint said. “I applaud the president for leading the way by ending the executive ban, and now it’s time for Democrats in Congress to stop playing political games and allow an immediate up-or-down vote to end the federal ban on offshore drilling,” DeMint said.

“The overwhelming majority of Americans are demanding that Washington use some common sense and allow America to increase our own energy supply to reduce prices at the pump. Sadly, Democrats have blocked energy solutions for decades because they think coal, oil and gas have made Americans ‘sick’ and high gas prices are the way to cure them. It’s time for Democrats to stop saying ‘no’ to American energy, stop saying ‘no’ to increasing our own oil and gas supplies, and stop saying ‘no’ to clean alternative energy like nuclear power.”

Clearly, the issue is embroiled in Washington politics. Consider U.S. House Majority Whip James Clyburn’s take on the issue. He says the offshore drilling ban is not stopping exploration, calling on the energy industry to tap the 68 million acres of public land onshore and offshore currently open and available for energy production in the United States. He also renewed his call for President Bush to release oil from the Strategic Petroleum Reserve.

“President Bush and Vice President Cheney are products of the oil industry. Rather than demanding that energy companies drill on the 68 million acres of land available to them, they’re opening even more taxpayer-owned public land for production — giving big oil another monopoly on our nation’s energy resources with no promise of any additional production or reduction in price. It’s not enough that on the backs of American families, record gas prices are delivering record profits for the oil industry. This is flat out robbery,” Clyburn said.

It’s time to find common ground. Oil will be a part of the nation’s energy future for the foreseeable future, even as alternatives are developed and come on line. Exploration and drilling in the lands referenced by Clyburn should be a priority. Releasing supplies from the reserve is a viable method of reducing prices, even slightly, in the short term. And offshore drilling in new locations should allowed. The process has proven to be environmentally safe, arguably more so than transporting vast amounts of oil via ships from afar.

Americans and the U.S. economy are suffering. It is in the strategic interest of our leaders and the oil industry to take action. It’s a matter of long-term national security.

 
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