Two newly released reports shed some much-needed light onto a crucial question in Washington: Does domestic oil drilling affect gasoline prices?
That question lies at the heart of the debate over what we should do about high and volatile gasoline prices. Advocates for oil drilling call for broader and quicker access to our nation’s resources in order to provide relief at the pump – calls that the House has happily obliged by passing bills that would open up new areas to offshore drilling and undercut government oversight. Environmental groups and other opponents of domestic drilling, on the other hand, argue that this is the wrong approach, and that we should instead be investing in fuel efficient vehicles and alternate modes of transportation.
The two new reports provide much-needed objective and nonpartisan analyses of this crucial question, and come to the same, clear conclusion: providing relief at the pump to U.S. consumers can only be achieved through reducing our oil consumption, NOT through more domestic drilling.
The reports were issued by the Energy Security Leadership Council (ESLC), a nonpartisan project of Securing America’s Future Energy that’s composed of industry CEOs and retired four-star generals and admirals, and the Congressional Budget Office (CBO), which provides nonpartisan economic analysis to Congress. They join a growing list of impartial publications that refute the notion that the United States can drill its way to energy independence and free ourselves from the myriad problems associated with our oil consumption and offshore drilling.
Very funny, Mr. President, but tomorrow is April Fool’s, not today. We can’t imagine that you’d go back on your promise to keep the moratorium on offshore drilling.
President Obama announced today that he will open much of the Atlantic coastline, the eastern Gulf of Mexico and the north coast of Alaska to offshore drilling. This includes areas that were previously protected and fragile Arctic ecosystems – places where it’s unnecessary and destructive to drill, but it seems that the President must know that.
I say that because I remember the speech Obama gave during the 2008 campaign in Florida. He was attacking Senator McCain’s proposal to expand offshore drilling, and he said, “It would have long-term consequences for our coastlines but no short-term benefits since it would take at least ten years to get any oil… It will take a generation to reach full production…When I’m President I intend to keep in place the moratorium here in Florida and around the country.”