NCPA - National Center for Policy Analysis


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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