Offshore Drilling, Palin & the Deficit: Let's Export Oil!

Drill, drill, drill. Why and for whom? Big oil has no interest in lowering the price of oil. Politicians have their arms in the corn barrel. Only Sarah Palin can twist the arms of big oil to share profits from a huge increase in volume from the lifting of the ban on drilling offshore and in Anwar!
If we produce 50% of our oil consumption (versus the current 3%), any loss in profit will be offset by increase in volume. Big Oil will scramble for that volume. This is because Big Oil owns the lion’s share of our imported oil. The cry for windfall taxes is to support Democrat welfare programs and buy votes for Obama/Biden.
Palin forces big oil to choose. Back massive domestic exploration or face the consequences. Only Palin knows how to play that game. She did it in Alaska.
Share the profits and reduce the national debt. Palin did it in Alaska.

Why Drill, Drill, Drill Has Not Succeeded

Is our objective self-sufficiency? Should not the United States be the world’s largest oil producer? Environmentalists aside, the greatest opposition comes from international oil companies whose primary interest is to protect the value of their reserves at $100 per barrel.
Everyone seems to agree on natural gas as a substitute for oil. Not mentioned is drilling for natural gas which again accounts for the reticence of big oil.
Only a national demand for increased oil production will succeed. Even disincentives like excess profits taxes—whatever works. The enemies are big oil and the environmentalists—a strange alliance. Only McCain and Palin can square this circle. Supply breaks cartels whether headed by corporate giants or environmentalists.
Who owns the oil at the continental shelf? Any answers? If leases are granted on lands not owned by the United States, who gets the oil? The drillers, the oil marketers, the refiners? Who slices the melon? How big are the slices? Who knows?
My confidence stems from a New York Times editorial written in 1921. It proclaimed that the world would run out of oil in ten years. I believe there are tens of millions of barrels of oil within our grasp. We need a government with a will to find it. Only United States technology can succeed but only with a supportive government.

Catch-up versus Leadership

Why drill for oil? To catch up with imports? But suppose Anwar, offshore California and the Gulf—plus the continental shelf could make us the world’s largest producer of oil? What would be the effect on our dollar or our deficit? Shouldn’t this be our goal? Supply would drive the price of oil downward. Is this any less important a goal than the Manhattan project?

When T. Boone Pickens points out that we give $400 billion per year to friends and enemies alike for oil we can’t produce—reverse the equation! What if with Anwar, offshore and the continental shelf, we were exporting $400 billion of oil to China, India, and other emerging economies? Would we not be once again the economic leader of the free world? Why do environmentalists have a hate of carbon at the expense of our national interests? Hasn’t global warming been disproved?

Regardless, how do we stop India, China and other developing nations in their pursuit of carbon? All our failures—banks, autos, and energy--can be traced to our loss in leadership in oil production starting in the 1940s. The Saudi sands were easy to drill. The continental shelf was unthinkable. But, technology changed—led by the United States. How did Al Gore’s greenies steal the march?

It is our technology propelling Petrobras, Russia, and even countries sympathetic to Chavez. Technology moves market to market. Oil in the ground is static. We must control crude oil in the ground in order to control the market.

Call Their Bluff !

Democrats rail about the 68 million acres leased to oil companies not being drilled. Is it not possible that there is no oil under those acres? Has anybody asked? Has anybody replied? Acres do not produce oil!

Dick Durbin: Fool or Subversive?

Is Dick Durbin a fool or a subversive? On Tuesday, June 17th, Durbin blamed oil prices on speculation and called for a major increase in government employees to investigate the pink sheets and OTC. He blamed oil companies for not drilling in the 68 million acres they have under lease. Following Durbin was the CEO of a major drilling company. He pointed out that $150 million was the minimum cost to drill deep. Day rates for labor on rigs have risen from $30,000 to $350,000. In other words, Durbin would have oil companies drill in the 68 million acres where there may be no oil or if they drill deep in the ocean, they can expect excess profits taxes and if they raise equity that will be called dirty speculation. I own a few shares of Exxon and I am scared stiff. VOTE McCAIN !

TAXES-Let's Soak the Rich!

Phooey. The rich are too smart. They pay taxes based on their confidence in Congress. Rated at 20%, they don't risk much. Only John McCain can restore confidence. Then the rich will pay. Go out into the cornfields. In good times the farmer plants to the edge of the road; in bad times he buys tires and tractors. In good times the small oil operator uncaps his wells. Money is portable - the retired person can move his money. He can send it abroad, buy assets, voluntarily defer compensation. Millions of free entrepreneurs versus understaffed IRS - no contest! Only the rich are free from the IRS because they have legal options. Taxes inevitably fall on the middle class and the poor. Inflation affects the rich by reducing the purchasing power of their dollars. This is also a real tax on the rich. A wiser old owl once said, "if you want to catch buzzards, you have to learn their game!" McCain has fired many of those buzzards. Nobody cleans house faster. Drillers from Asia to South America are showing us that the supply of oil is not finite. We have no idea how big the supply is. But, it means we have time, with nuclear, coal, and natural gas backing us up. Then I can drive my SUV, eat steak, travel, and raise my standard of living. The goal of the left is to stunt growth, reduce our standard of living and make us accept a government-run police state.
Senator McCain can preserve our freedom.
Send him money!! VOTE McCAIN

Gasoline: $5.00 a gallon

$5 per gallon for gas. Let it go to $6! The public has awakened. Big oil has awakened. The environmentalists are dying. Drilling and refining will commence. In two years oil will be $35 per drum. Bio-fuels will be forgotten except for the few leaders who reside in jail. Free markets work. They take time. The fight for power over ordinary people's lives is led by ivy leaguers. It gives way to the common sense of mid-America. But...it takes time.

AMERICA WISE UP!

The 2008 election will match off an 1880's William Jennings Bryan populist versus a Marc Hanna industrialist (now called technology). Obama's future change embraces the failed government policies of the past while Senator McCain grapples with the technology of the future. One must cheer this third generation Annapolis graduate forced to translate years of military service and torture to a political struggle with a party adrift. His steadfast character and unquestioned patriotism lifts the American Spirit. His support of environmentalism will translate into the practical. He will visit Alaska, evaluate deep drilling, boost nuclear and coal. He will see that biofuels are a politician's dream, a farmer's windfall and a consumer's nightmare. Does God intervene? Rainfall in the midwest has priced corn and soybeans out of the market. The price rise in food is not inflation. It is supply and demand. Oil is not priced by a cartel. There is no shortage. It is priced at the last barrel sold. Our government bought its oil on the cheap. With deep drilled oil abounding, our government can sell oil at market prices to the international oil companies. Prices will fall on gasoline. Our domestic companies will be encouraged to drill and compete with Mexico and Brazil. Are they not part of the Americas? Remember Arab oil still costs about $20.00 a barrel to drill. What finances those skyscrapers in Dubai?

VOTE McCAIN AND RELAX! BETTER DAYS ARE COMING.

You can't beat buzzards 'til you learn how to play their game. An honest man beats a clever man, like the tortoise beat the hare.