Bachmann uses financial crisis to pimp ANWR oil drilling
Tuesday, September 23, 2008 at 12:16 pm
- 9 Comments
As Congress, Wall Street and the American public debate the merits of using $700 billion (or more) in taxpayer money to shore up a crumbling banking industry, many people have offered putative solutions. Rep. Michele Bachmann–stop her if you’ve heard this one before–wants to open up the Alaska National Wildlife Refuge to oil drilling. Bachmann has been on a months-long crusade to open more oil drilling around the United States, a crusade critics say would have little practical impact on gas prices at the pump.
“Faced with a looming bail-out of the financial sector hovering around the $700 billion dollar mark, I’ve signed a letter written by Congressman Joe Barton (Ranking Republican on the House Energy and Commerce Committee) urging the President to consider opening up ANWR and the Eastern Gulf of the OCS to improve our energy security, lower energy prices, and provide needed revenue to the Treasury to help shoulder the burden the bail-out will place on the American taxpayer.”
At the best estimate, the government stands to make $191 billion in revenues over the next 30 years by opening up ANWR and the outer continental shelf to oil drilling.
Meanwhile, oil prices increased by a record amount Monday, driven mainly by speculation and the short squeeze loophole in commodities trading.
“No war threat, pipeline leak, ship wreck – nothing, yet up goes oil nearly $25 a barrel,” said Tim Hamilton, a petroleum industry consultant told the San Francisco Chronicle. “Perhaps speculation is a greater factor than actual supply and demand.”
Follow Andy Birkey on Twitter9 Comments
Comment posted September 23, 2008 @ 4:12 pm
Gas Prices are not going down. Increasing or preserving dependence on oil will only ensure things get worse.
Comment posted September 23, 2008 @ 4:56 pm
OIL GOES ON THE WORLD MARKET!!! Like the money would be returned to taxpayers! Exxon is going to give up thier profits for the bailout?!
Comment posted September 24, 2008 @ 4:17 am
Yeesh, Kelly, get a clue. It goes on the world market as a commodity and depending on the contract the state where the commodity came from gets a royalty or they tax the commodity. It’s usually a royalty that floats with the market price. What I’d like to see a story on is why in the world are Liberals so against drilling in ANWR? There is already oil drilling and mineral exploration going on on larger tracts of land in Alaska as this. I just don’t understand the mentality. If liberals are so hell bent on not drilling in ANWR, why aren’t they hell bent on eliminating drilling in Alaska period?
Comment posted September 24, 2008 @ 8:11 am
Rick,
One reason we try to stand up to protect the Arctic National Wildlife Refuge is that it is just that – a National (public lands treasure – belongs to all of us) Wildlife Refuge (set aside as a Refuge for Wildllife). The Arctic Refuge is the crown jewel in the National Wildlife Refuge system which reaches across this country. Pristine wilderness that is very heavily depended upon for many species of wildlife.
Comment posted September 24, 2008 @ 10:02 pm
I’m sure Rick is relying on Bachmann’s b.s. number of “2,000 acres–like a postage stamp on a football field” when he refers to the small tract they want to drill on in ANWR. That 2,000 acres is actually a total of 2,000 acres that all the drill rigs can occupy. It excludes roads and pipelines. Since drill sites occupy little space, a large number of them could make up 2,000 acres and be spread over a vastly larger area, connected by miles and miles of roads and pipelines. Like everything that comes out of Bachmann’s mouth, it’s simply not true.
Comment posted September 26, 2008 @ 5:29 am
Sorry guys, I’ve worked in climates/conditions like that. Everyone has these pictures of tractor trailers hauling equipment up there. First off, most of it is unnavigable. Secondly, most will arrive by ship in the summer months and helo’ed on spot. Thirdly, it’s above the tree line. Not a lot up there to begin with. Fourth, this is a national security issue as far as I’m concerned. Sit back and think of all the commerce tied to oil. Going to a Twins game is part of that commerce. I will concede we do need better ways to get around, but it won’t happen over night. And this garbage that it’ll take ten years for the oil to come to market… Garbage. You can smack a hole to 35k in less than a month. These rigs operate 24-7 btw since most oil companies lease the crews and rigs.
Comment posted September 30, 2008 @ 12:22 pm
To say that drilling for oil in ANWR is a matter of National security is absolutely ridiculous! To say that our dependency on foreign oil, (over 50% of our daily consumption), is a threat is simply neglecting the fact that our per capita level of consumption is the highest in the world… as we all know. They dont know exactly how much oil can be found in ANWR..and it is only going to be a short term fix. You want national security?…How about higher fuel efficiency and alternate energy sources! It is by choice that we depend on oil like we do. And really, why the hell did we designate it as a refuge, meant to prohibit human activities, if it means absolutely nothing!.. To drill in ANWR is to feed the American hunger to have more and more and more..It is a sacrifice done in the name of preserving an affluent american lifestyle… But after all we are Americans,,who’s to say we cant have it all!
Comment posted October 8, 2008 @ 2:21 pm
There that Michelle goes agian: “pimping for freedom” The USA enjoys far more freedom than the rest of the planet so it must be curtailed to match that of North Korea or Cuba just to keep things “fair.”
The USA must compete with the other producer nations of the earth to earn the profits that in turn producd the taxes to support the non-competative untaxed armies of government “workers” etc.
Now if the energy producers sell relatively cheap energy to our competitors and we are forced by regulation to abstain from purchasing energy at the going rate just where will that leave the legions of you who don’t, wont, or can’t compete? Perhaps we can hook you all up to treadmills to drive our industry and at least get something worthwhile out of you
RSS feed for comments on this post.
Sorry, the comment form is closed at this time.
