Thursday, March 10, 2011

Oil Prices and Drilling - #2708 - Now is the Time to Pass an Anwar Bill - Redstate (2) Gas Prices Have Gone Up 67% Since Obama Became President - Weekly Standard (3) Gasoline Costs to Jump $700 for Average Household - Reuters

In 1995, the Republican-controlled House and Senate passed a balanced budget act, which contained a provision to open the Arctic National Wildlife Refuge (ANWR) for oil drilling and exploration. On December 6th of that year, President Bill Clinton vetoed the bill, ensuring that not a drop of oil would be extracted from the barren land of this 20 million acre area. We have literally been paying for this veto for the past 15 years. This gargantuan frozen tundra in the northeast corner of Alaska contains the most oil of any single untapped source within the borders of the U.S. According to the mean average estimate of the U.S. Geological Survey, there are at least 10.3 billion barrels of oil in ANWR. Most of this oil can be tapped through a drilling imprint of just 2,000 acres, or .01%, of the reserve area. In addition, there is an estimated 35 trillion cubic feet of natural gas in ANWR. Only an insidious gang of politicians hell-bent on undermining our national security, economic prosperity, and free market capitalism, could be so intransigent to impound this treasure from the American people.  Read more.......

Gas Prices Have Gone Up 67% Since Obama Became President - Weekly Standard -  Ah, January of 2009. Hope was in the air, but more importantly, gas was under two dollars a gallon. Since then gas prices, have gone up 67 percent and it's an ominously upward trend. Interestingly enough, the Heritage Foundation also took a look at the first 26 months of Bush's presidency -- gas only rose 7 percent during that time frame. Now obviously turmoil in the Middle East has something to do with our current astronomical gas prices, but keep in mind that by this point in the Bush presidency 9/11 had happened and we were on the verge of invading Iraq. So while the president can't be entirely responsible for global commodity prices, it's still worth asking what Obama's doing to make things worse.  After all, this is the President who told us "We can’t drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times … and then just expect that other countries are going to say OK.”  This is the President that appointed a Secretary of the Interior that famously said he didn't mind if gas hit $10 a gallon.

Gasoline Costs to Jump $700.00 for Average Houehold - Reuters -   U.S. drivers will pay another 10 cents a gallon for gasoline before the latest jump in wholesale costs is fully passed on at the pump, and yearly motor fuel costs will rise 28 percent from last year, the Energy Department said on Wednesday.  The average U.S. household will spend about $700 more for gasoline in 2011 than it spent last year, bringing total motor fuel expenses up 28 percent to $3,235, based on an annual pump price of $3.61 a gallon, the department's Energy Information Administration said.  Read more.......

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