BACK TO THE '70S?
April 24, 2008
Wasn't it two years ago that then-Minority Leader Nancy Pelosi vowed, if her party took over Congress, to cut energy prices -- especially gasoline? Since then the cost of energy is up more than 70 percent, says Investor's Business Daily (IBD).
Under Pelosi's "common-sense plan," Congress has achieved nothing. Actually, less than nothing, considering that what little has been done has hurt, rather than helped the United States to become more energy self-sufficient, says IBD:
- This year alone, we'll spend $431 billion to buy 3.7 billion barrels of imported oil to run our economy.
- And in so doing, we are enriching some of the world's most unsavory regimes.
Ironically, we have plenty of oil:
- At least 10 billion barrels in Alaska's National Wildlife Reserve.
- 30 billion or so offshore.
- 1.2 trillion in Rocky Mountain oil-shale.
Unfortunately, Democrats' extreme green ideology keeps us from drilling for it. Clean coal technologies likewise have been put out of bounds. So has the most logical answer to our energy problem -- nuclear power plants that can be run safely with spent rods reprocessed. France already does this to meet 80 percent of its energy needs.
Democrats have focused instead on a global warming plan that would cost $1.2 trillion. Meanwhile, subsidies and other breaks for biofuels have helped send food prices soaring. As in the 1970s, this is a human-made crisis -- one that has solutions. But it's the Democrats, along with a few equally misguided Republicans, who steadfastly refuse to implement them, says IBD.
Source: Editorial, "Back to the '70s?" Investor's Business Daily, April 23, 2008.
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