The strategic reserve we’re not willing to tap

posted at 9:30 am on March 9, 2011 by Ed Morrissey

Rapidly rising gas prices at the pump have finally gotten some Democrats concerned, although not enough to get them thinking long term about American energy policy.  According to the US Energy Information Administration, the average price of gasoline across all grades has risen 47 cents since the first of the year, an increase of over 15% in just ten weeks.  The increase has a multiplier effect across the economy as higher gas prices force increases in the costs of goods brought to market, especially in produce.  As Americans pay higher and higher bills at the pump and at the grocery-store register, the Obama administration and Democrats on Capitol Hill have nervously toyed with the idea of tapping the Strategic Petroleum Reserve:

Some Democratic lawmakers say yes, and assert that now is the time for the United States to dip into itsStrategic Petroleum Reserve, which is brimming with 727 million barrels of crude.

“We encourage you to consider utilizing the Strategic Petroleum Reserve (SPR) now,” Rep. Edward J. Markey and two other House Democrats said in a letter sent to President Obama on Monday. They called the reserve “the only tool we possess which can counter supply disruptions and combat crippling price spikes in the short term.”

“From my perspective, it certainly would make sense for the president to begin selling oil from the SPR,” Senate Energy and Natural Resources Committee Chairman Jeff Bingaman (D-N.M.) said Monday, citing soaring prices and fighting in Libya.

But the Obama administration has been noncommittal. White House chief of staff Bill Daley said on NBC’s “Meet the Press” on Sunday that “we’re looking at the options” but noted that past releases had happened only on “rare occasions.” On Monday White House spokesman Jay Carney was even more circumspect,saying “it is an option we are considering, and again, within the broader context of the system that exists to deal with a major disruption, should that occur.”

Instead of tapping the SPR — on which more in a moment — why not just start drilling for oil and natural gas in the US?  Three years ago, the US went through a similar price shock on oil, and with the unrest sweeping the oil-producing nations of Southwest Asia and North Africa, the uncertainties will continue for some time.  CNS News asked Interior Secretary Ken Salazar why the US isn’t drilling for its own oil in the Arctic, and Salazar scoffed at the notion that “Drill Baby Drill” could solve America’s energy needs:

“We don’t believe that you need to drill everywhere and we don’t believe that the ‘drill, baby, drill’ program is the way that’s going to get us to the energy independence that we need for America or that will power our economy and that’s why the President has been so clear from day one and we in the Department of Interior have been so clear that what we need to do is need to have a robust energy program that includes a number of different sources of energy and while yes, we are pushing forward with oil and gas development both offshore and onshore which was the subject of much of the hearing today, we’re also moving forward with renewable energy,” he told CNSNews.com after testifying before the House Natural Resources Committee about his Department’s FY2012 budget.

“The President has said we are supporting nuclear, we’re support other clean air energy forms and at the end of the day, this is a place where there is hope that perhaps some of the Republicans in the House would come together and say that we can move forward with energy legislation that moves us into this new energy future.”

So tapping the SPR “moves us to the future” of energy policy, but actually getting oil and natural gas does not? That sounds a lot like Vivian Schiller’s explanation of NPR’s independence from government through government subsidies.

In my column today at The Week, I explain that the SPR holds about 38 days of American oil consumption. Tapping it won’t have any impact on price for longer than a few days, and at the end of that period, we’re still in the same position: oil-producing nations that supply world markets will still be unstable, and perhaps more of them might be unstable at the end of it. The SPR is intended to provide the US with a short-term supply for disruptions caused by catastrophes, not to manipulate spot prices on the commodities markets, a mission for which it is completely unsuited.

But we do have strategic reserves that are suited for that purpose, and “tapping” those would bring a lot more benefit than rolling out the SPR barrels:

Instead of tapping our strategic reserves, we should be drilling for our own energy resources, and not just oil. We could convert oil and coal to cleaner natural gas, for instance, if we allowed ourselves to do the drilling and extraction necessary to ensure reliable supplies on the scale needed. Such an effort would allow for cheaper and more stable energy supplies, but would also pay off for the U.S. economy in other ways. Exploration and extraction create jobs on a large scale. Those jobs tend to be high-paying union jobs, which should have the labor movement clamoring for action. Not only would we have cheaper energy to make investing in the economy more efficient and effective, we would also create hundreds of thousands of new private-sector jobs and get Americans back to work.

That last price shock launched the “Drill Here, Drill Now” movement that succeeded in breaking down a few barriers to an expansion in American production before the economic collapse cut prices in half again.  We need to restart that movement and break down the rest of the barriers and stop being held hostage to decades-long promises that renewable energy is just around the corner, and put in place a realistic plan to use American resources to buffer the US economy from the vagaries of kleptocracies and dictatorships on the other side of the globe.

Or, as I ask in the column, shall we wait until the next crisis to ask why we didn’t act now?


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That sounds a lot like former CEO Vivian Schiller’s explanation of NPR’s independence from government through government subsidies.

Fixed.

KingGold on March 9, 2011 at 9:32 AM

The height of irony. It’s like being willing to tap your savings, but not go to work.

Paul-Cincy on March 9, 2011 at 9:33 AM

Expect a few Heavy mortars to be shot from Fort Wasilla in 3…2…1….

portlandon on March 9, 2011 at 9:34 AM

I thought we wanted higher gas prices to force people to use less; this is confusing.

Bishop on March 9, 2011 at 9:35 AM

Tap ‘dat.

Hit ‘dat.

Then get goin’ on the shale oil.

blatantblue on March 9, 2011 at 9:35 AM

Release the reserves now.

OmahaConservative on March 9, 2011 at 9:36 AM

I thought we wanted higher gas prices to force people to use less; this is confusing.

Bishop on March 9, 2011 at 9:35 AM

It helps the less fortunate, don’cha’know.

blatantblue on March 9, 2011 at 9:36 AM

So, if we tap the reserves now while the crisis is $3.79 gasoline, what happens five months from now when the whole middle east errupts in flames and there is a real crisis?

myrenovations on March 9, 2011 at 9:36 AM


Some Democratic lawmakers say yes, and assert that now is the time for the United States to dip into its Strategic Petroleum Reserve, which is brimming with 727 million barrels of crude.

So basically they want have another form of deficit spending with oil instead of Dollars.

Is that the Oppressive-Left’s answer to everything?

Colbyjack on March 9, 2011 at 9:36 AM

From Sarah Palin’s RNC speech:

“When a hurricane strikes in the Gulf of Mexico, this country should not be so dependent on imported oil that we are forced to draw from our Strategic Petroleum Reserve.

Our opponents say, again and again, that drilling will not solve all of America’s energy problems — as if we all didn’t know that already.

But the fact that drilling won’t solve every problem is no excuse to do nothing at all.”

powerpro on March 9, 2011 at 9:37 AM

Coal can be refined into liquid transport fuel easily. Using 1920s Fischer-Tropsch technology. China is now building refineries, why can’t we?

The can’t do anything Obama socialists need to be shown the door and driven home in the lemon volt.

tarpon on March 9, 2011 at 9:38 AM

ODumbAss WANTS HIGH GAS PRICES. Socialists seek to enslave the people. One tool they use is to limit mobility.

They do not want us driving our own cars and you all know it.

Stop being obtuse.

dogsoldier on March 9, 2011 at 9:39 AM

The U.S. consumes about 20 million barrels of oil a day. We used to produce around 10, but with the shut down of the Gulf of Mexico we are approaching 6. If the U.S. would show a willingness to produce our own oil the price would fall almost immediately. It’s crazy to think that we can and should rely on OPEC to increase output to keep our supply up and the price down. I guess they are going to create the jobs that the current administration isn’t willing to.

Ordinary1 on March 9, 2011 at 9:39 AM

the Department of Interior have been so clear that what we need to do is need to have a robust energy program that includes a number of different sources of energy and while yes, we are pushing forward with oil and gas development both offshore and onshore which was the subject of much of the hearing today,

One drilling permit issued in 12 months.

Kiss my ass.

BobMbx on March 9, 2011 at 9:40 AM

It’s not enough to increase our oil supply…we MUST increase our refining capacity, too.

flipflop on March 9, 2011 at 9:40 AM

The reason the government could tap the SPR after a hurricane in the Gulf was that it was an issue dealing with domestic production from wells in the Gulf being stopped while the storm blew over.

Doing it in this situation is just plain stupid because we aren’t seeing any shortages in unrefined petroleum, just price shifts because people think that the Libyan fighting will eventually disrupt the flow of oil to Europe.

teke184 on March 9, 2011 at 9:40 AM

Salazar is a mo ron and needs to be buried in email, if there is a phone to the energy dept that works burn the wires up.
This is a National Security issue plain and simple.

Col.John Wm. Reed on March 9, 2011 at 9:41 AM

So, if we tap the reserves now while the crisis is $3.79 gasoline, what happens five months from now when the whole middle east errupts in flames and there is a real crisis?

myrenovations on March 9, 2011 at 9:36 AM

Welcome to the BobMbx Camel and Burqa Emporium.

All your drilling are belong to us.

BobMbx on March 9, 2011 at 9:41 AM

The Strategic Petroleum Reserve exists for one reason: If we ever have a situation where foreign supplies are disrupted, and insufficient domestic production to fuel our armed forces and their supply chains, we have it to fall back on.

A high price of oil, no matter how ridiculously high it is, is not sufficient reason to tap the SPR. Instead, that high price is a reason to drill, baby, drill!

The Monster on March 9, 2011 at 9:43 AM

And don’t forget, every barrel we tap from the reserve is going to have to be replaced later. There isn’t enough in the reserve to really bring prices down significantly, and the feds would have to spend money later to replace it. Rather than tap a reserve, tap the gulf, the California coast and ANWAR. There will be the additional benefit of creating jobs for Americans.

rbj on March 9, 2011 at 9:44 AM

Talk about a jobs program.

Cindy Munford on March 9, 2011 at 9:45 AM

There will be no drilling. Not as long as Jeffrey Immelt is advising the WH on jobs and the economy. Not as long as the Green lobby is sleeping with el presidente and keeping him warm at night.

RepubChica on March 9, 2011 at 9:46 AM

Some Democratic lawmakers say yes, and assert that now is the time for the United States to dip into its Strategic Petroleum Reserve, which is brimming with 727 million barrels of crude.

Oh, it’s “brimming”, so it’ll be no big deal to deplete it for political gain.

It’s not like there are any obstacles to domestic production or threats to foreign oil supplies going on right now or anything.

forest on March 9, 2011 at 9:46 AM

Are these people trying to make Sarah Palin the next president?

Energy policy is right in her wheel house. It’s her “called shot”. Make up your own tired cliches, but that is where the rubber meets the road with her.

I’ll tell you what. If energy policy isn’t the most important issue in the upcoming election, I’ll eat my 350 small block Chevy.

turfmann on March 9, 2011 at 9:48 AM

seriously…..how do folks this CLUELESS and STUPID get into this position??

SDarchitect on March 9, 2011 at 9:53 AM

Talk about a jobs program.

Cindy Munford on March 9, 2011 at 9:45 AM

That’s what would happen if drilling for gas and oil opened up. Building refineries would create another layer of jobs.

darwin-t on March 9, 2011 at 9:54 AM

I thought we wanted higher gas prices to force people to use less; this is confusing.

Bishop on March 9, 2011 at 9:35 AM

The problem is that we’re so dependent on fossil fuels for EVERYTHING…that there is a very fine line between forcing people to use less and bringing the economy to a crashing halt.

Are these people trying to make Sarah Palin the next president?

turfmann on March 9, 2011 at 9:48 AM

^This. They’re making her look like Einstein and Reagan combined by comparison.

Dark-Star on March 9, 2011 at 9:55 AM

Let’s look at the big picture. Besides higher prices for food we will also have to face increasing costs for home electricity bills.

I’m sure that will go over very well with the unemployed. Of course those in public housing won’t have a worry in the world, and those people are OBama’s base.

Key West Reader on March 9, 2011 at 9:57 AM

But the Obama administration has been noncommittal.

 
THIS JUST IN!

rogerb on March 9, 2011 at 9:57 AM

“We don’t believe that you need to drill everywhere and we don’t believe that the ‘drill, baby, drill’ program is the way that’s going to get us to the energy independence that we need for America or that will power our economy and that’s why the President has been so clear from day one and we in the Department of Interior have been so clear that what we need to do is need to have a robust energy program that includes a number of different sources of energy and while yes, we are pushing forward with oil and gas development both offshore and onshore which was the subject of much of the hearing today, we’re also moving forward with renewable energy,” he told CNSNews.com after testifying before the House Natural Resources Committee about his Department’s FY2012 budget.

Ok, Ken. Explain to me how you’re gonna power 250 million cars, trucks, and buses(not to mention airplanes) with wind and solar. Internal combustion engines need fuel. Which means we need oil. Lots of it. Wind, solar, and nuclear(for which your administration has done diddly-squat, BTW) should all be on the table, but oil, shale, coal, and natural gas absolutely must be the top priority for us as we have a huge supply of all of them.

Doughboy on March 9, 2011 at 9:57 AM

I saw a fair and balanced interview between two liberals on PBS with Gwen Ifil the other night where one of them suggested we sell off a bunch of the oil reserves and invest it in electric cars.

Don’t think Obama won’t try it….

cntrlfrk on March 9, 2011 at 9:58 AM

The proper policy that respects the proper role of government in the proper exploration and manufacturing of petroleum products for our own use as well as that for export would be a HUGE step in the direction of solving our financial mess.

turfmann on March 9, 2011 at 9:59 AM

Doughboy on March 9, 2011 at 9:57 AM

Until a replacement for the internal combustion is developed all ‘green’ energy is just a bunch of feel good hokum.

darwin-t on March 9, 2011 at 10:05 AM

I’ll tell you what. If energy policy isn’t the most important issue in the upcoming election, I’ll eat my 350 small block Chevy.

turfmann on March 9, 2011 at 9:48 AM

This past weekend i pulled my 383 stroker out of my truck and reinstalled my stock 350, also not riding my sleds much as it cost 45.00 to fill each sled + 45.00 for each gallon of synthetic 2 stroke oil,i’m tapped.

heshtesh on March 9, 2011 at 10:05 AM

Leave the reserves alone.

We have 39 million barrels in a filled to the top storage above ground in Cushing Oklahoma. They expanded storage greatly last 2 years. The oil shortage is out side the US. We do need to release the American drilling embargo.

seven on March 9, 2011 at 10:05 AM

darwin-t on March 9, 2011 at 9:54 AM

Exactly!!!! How long did it take someone to say “but that won’t help now it will take __________ years to make a difference.” Which is B.S., the minute the commitment is made, almost everything will turn around in the economy. Let’s throw a few nuclear plants in there also.

Cindy Munford on March 9, 2011 at 10:05 AM

Drill Baby Drill!

Palin 2012

ornery_independent on March 9, 2011 at 10:06 AM

Tapping the SPR for this temporary price spike is akin to tapping your 401K to pay off a big credit card bill after Christmas.

Vashta.Nerada on March 9, 2011 at 10:10 AM

Where’s your hat Ken?

bannedbyhuffpo on March 9, 2011 at 10:11 AM

But the Obama administration has been noncommittal.

… and here lies the failure of Chicago style politics .. when you are the only party in town you don’t do a very good job on negotiating skills. Hitting them with a 2 by 4 doesn’t work on a global basis, especially when your leader is a wimp. You have to use a “fake” (Obama isn’t very good at basketball either which explains this problem).

The whole point of the Strategic Petroleum Reserve gambit, is to release an unspecified amount of oil. It can be one barrel or a million barrels. The point is to scare the hell out of the speculators. Besides you can always release more later if they catch on.

J_Crater on March 9, 2011 at 10:16 AM

Make no mistake, Ken Salazar is taking his marching orders from Obama and the environmental lobby who have millions to invest to every liberal democrat who defies American energy growth. Until we take back the WH and the Senate, this issue will never change.

Rovin on March 9, 2011 at 10:16 AM

this was my comment yesterday on this crap it stands:

Interior Dept head Salazar said that drilling in the Artic will not make us energy independent and therefore we should not do it.

I sh!t you not. As the gasoline goes up up and up. Salazar says there is no reason to drill in the Artic because it will not make us energy independent.

So using his reasoning I guess it’s stupid to exercise since it will not make us immortal…..

unseen on March 8, 2011 at 10:26 PM

unseen on March 9, 2011 at 10:17 AM

compare and contrast what salazzar said or this:

Back in ’08, our U.S. crude also was trading at about $100 a barrel as it is today for about six months, and that was right before our world economy imploded,” Palin said. “And now here we are back again, so [Obama's] timing – his destructive timing – of locking up 97 percent of our off-shore and not allowing ANWR to be touched, not allowing domestic drilling to take place to the degree that it should, it is terrifying where he is leading us in terms of being at the mercy of foreign regimes that would seek our demise to produce energy for us.”

Now which makes more sense? And who is the stupid one again?

unseen on March 9, 2011 at 10:20 AM

that’s why the President has been so clear from day one and we in the Department of Interior have been so clear that what we need to do is need to have a robust energy program that includes a number of different sources of energy

…the Presidents so called “robust energy program” is nothing more than a corrupt relationship of greed that fills the pockets of his “green energy” special interests cohorts.
It’s not an energy plan…it’s backroom deals and political payoffs that are sending energy costs skyrocketing and breaking the backs of the American citizen…

http://iowntheworld.com/blog/?p=57354

I can’t afford anymore “Hope and Change”….

Baxter Greene on March 9, 2011 at 10:20 AM

Obama and Big oil are in bed together. We need for congress to investigate this right away, also investigate coric and the rest of the MSM .by there silence they must be involved also

BruceB on March 9, 2011 at 10:22 AM

Any OPEC oil producing nation just needs to limit outflow for about a week, by about 10% – to make up for the price “difference” in tapping the SOR.

THEN they have all the leverage, as if they dont possess 95% leverage already.

I imagine a price ramp up from that point on – hell China could jsut subsidize a few million barrels a day, “for fun”

Dems are like Hold Em Poker players, who keep their cards showing.

Odie1941 on March 9, 2011 at 10:22 AM

This is our fault for not continuing to hound Obama for killing off shore drilling.

But then again, this is our fault for allowing Obama to be elected in the first place, we knew better…

scotash on March 9, 2011 at 10:24 AM

“We don’t believe that you need to drill everywhere and we don’t believe that the ‘drill, baby, drill’ program is the way that’s going to get us to the energy independence that we need for America or that will power our economy”

Blah, Blah, Blah…yep a few more windmills will do the trick…

PatriotRider on March 9, 2011 at 10:26 AM

Sara hit the nail on the head when she stated that the government has put a lock on the oil in Alaska. This whole oil thing is goofy. The EPA shows a video of the Alaska area that should be opened for drilling and it’s a lie. The area is barren and because of being a barren area there’s no animals there but the video shows vegetation and animals. they deny, deny. The lies coming out of Washington and blessed by the MSM are heart breaking and the public in a sense is locked up too.

mixplix on March 9, 2011 at 10:26 AM

Short sighted solution, I would say….

theaddora on March 9, 2011 at 10:26 AM

Here’s and idea…permanently shut down the Department of Energy. Created in 1977 with the mission to bring the USA to a state of energy independence…utter failure.

Take their 28 Billion in funding and drill some holes..

PatriotRider on March 9, 2011 at 10:28 AM

I agree with those saying it would be stupid to tap into the SR, there is no shortage, just high prices. And it will probably wake a few people up to see them and what it does to the price of everything they buy.

Cindy Munford on March 9, 2011 at 10:32 AM

Pixie dust and Unicorn’s…….get your Pixie dust and Unicorn’s.

heshtesh on March 9, 2011 at 10:34 AM

Imagine tapping the SPR now, draining it down and then a REAL natural disaster strikes…

… like another Katrina.

… like a New Madrid event (and there have been a number of small quakes just near the fault the last couple of months).

… like ‘The Big One’ in CA.

Then there are the unnatural disasters…

… like a disruption of Mexican supplies by the drug cartels during a general insurgency.

… like Venezuela giving us the middle finger or the people in Venezuela joining in the general ‘toss the dictator out’ movement.

… like Iran imploding or just having its output disrupted by its own people to crash the regime.

Then we absolutely, positively need the SPR.

And a lot of drilling for oil, natural gas, oil shale. oil sands, tar sands, plus expanding coal production to keep the lights on because Ofoola didn’t do a thing to start on massive construction of 3rd and 4th gen nuclear plants.

Do not tap the SPR now. The real tough times are not here yet, and all it would take is one disaster to hit when the SPR is partially drained to really put us in a very tough bind. It is a reserve for a reason, and as bad as things are, just one unexpected event can make this much, much, much worse.

ajacksonian on March 9, 2011 at 10:35 AM

OBozo will try to ride the white horse before the elections, but it will likely be too late to save him.

Look for him to release permits and some tapping of SPR through summer with a new push on renewables at years end.
Come next Spring, if gas is hovering a $4+ per gallon the price of the Volt will drop- like a chicken in every pot.

OkieDoc on March 9, 2011 at 10:38 AM

“Emanuel said energy costs are too low, anyway.”
Rahm Emanuel
Face the Nation, Mar. 1,2009

Baxter Greene on March 9, 2011 at 10:38 AM

seriously…..how do folks this CLUELESS and STUPID get into this position??

SDarchitect on March 9, 2011 at 9:53 AM

It really is a tribute to the creator that HE could make an automoton that stupid and still be able to feed itself. How they got into the positions of power is really quite simple. They lied their way into those positions and the lie to keep them.

but the best way to force these drones to realize that oil IS energy IS jobs, IS the economy is to force them back into private life so they have to do whateveryone else in the private sector has to do. Fend for themselves.

BOOT ‘EM OUT!!!

44Magnum on March 9, 2011 at 10:41 AM

Remember when the “smartest people in the room” told us that drilling expansion would not help because it would take 10 years before it could make a difference(which in itself was a lie):

http://www.redstate.com/erick/2011/03/07/blame-the-democrats-for-high-gas-prices/

“Critics (of Arctic drilling), including Sen. John F. Kerry, D-Mass., say the drilling plan would violate the nation’s last remaining pristine wilderness. Moreover, they charge, the oil would consist of a 6-month supply for the nation, and would not be ready for use by consumers for up to 10 years.”

That newspaper article was written April 2, 2001. For those of you in Rio Linda, that would be ten years ago.

Likewise, roughly ten years ago on July 3, 2001, the Bush Administration began consideration of drilling in the outer continental shelf.

Democrats opposed that too because it would take up to ten years to see a return on investment. In other words, it would take until about right now to see a return on investment.

……It is beyond absurd for liberals to have such a vast record of failure yet still consider themselves “the smartest people in the room.”

Baxter Greene on March 9, 2011 at 10:46 AM

SPR is intended for our National Defense and critical services to continue operating in case there’s a massive disruption in oil access — not to drop the price of gas at the pump for we average consumers. It should not be tapped for anything less than a critical national emergency.

EasyEight on March 9, 2011 at 10:56 AM

Salazar: drooooooonnnnnnnnnneeeeeeeeeeee ON!
.
I ask you, do these bureaucrats go to a “lull listener to sleep while maintaining a monotonous background noise answer” class? SHEESH! He’s hypnotically boring!

ExpressoBold on March 9, 2011 at 10:57 AM

That newspaper article was written April 2, 2001. For those of you in Rio Linda, that would be ten years ago.

Likewise, roughly ten years ago on July 3, 2001, the Bush Administration began consideration of drilling in the outer continental shelf.

Democrats opposed that too because it would take up to ten years to see a return on investment. In other words, it would take until about right now to see a return on investment.

……It is beyond absurd for liberals to have such a vast record of failure yet still consider themselves “the smartest people in the room.”

Baxter Greene on March 9, 2011 at 10:46 AM

Unless you’ve been to RL you shouldn’t poach Rush’s schtick.

darwin-t on March 9, 2011 at 10:58 AM

Do you know who this helps?

thebrokenrattle on March 9, 2011 at 11:12 AM

seriously…..how do folks this CLUELESS and STUPID get into this position??

SDarchitect on March 9, 2011 at 9:53 AM

It really is a tribute to the creator that HE could make an automoton that stupid and still be able to feed itself.

44Magnum on March 9, 2011 at 10:41 AM

Gives new meaning to “made in His image”, no?

After the debaucheries of the last century alone I think being created in the image of the Lord says more about the man upstairs than I really care to know…

Dark-Star on March 9, 2011 at 11:19 AM

The SPR should be reserved for when Iran nukes Israel.

barnone on March 9, 2011 at 11:22 AM

The SPR should be reserved for when Iran nukes Israel.

barnone on March 9, 2011 at 11:22 AM

I’ll say. If they really do, Israel will turn much of the M.E. into glowing green glass in their death throes. We’ll be saying goodbye to most or all of the oil from that region forever.

Dark-Star on March 9, 2011 at 11:26 AM

The driving force behind higher oil prices is the weak dollar, thanks to the Obama administration printing money 24/7 to paper over the bailouts and democrat caused mortgage collapse. Having said that, tapping our domestic reserves (not SPR) could have a significant long term impact on prices.

I believe that there is more at stake here than the price of oil, and I agree with Palin that dependence on foreign oil is a national security issue. We are one hostile act away from a disruption in the supply chain. There is no reason not to go full out drilling domestic reserves, except to kowtow to the hype and hyperbole of the environmentalists.

Jocundus on March 9, 2011 at 11:27 AM

We don’t need to drill “everywhere”????

Almost all of North America is off limits. What does he mean by “everywhere”?

PattyJ on March 9, 2011 at 11:36 AM

SALIZAR, YOU FILTHY LIAR!!! Sorry, I had to say it.

Aside from the fact that the SPR is an exercise in wrongheadedness. Until we fix being an energy importer while having easily tapped vast domestic reserves, we must maintain the SPR for a real emergency.

Drill now.
Build refineries now.

Slowburn on March 9, 2011 at 11:38 AM

I’ll say. If they really do, Israel will turn much of the M.E. into glowing green glass in their death throes. We’ll be saying goodbye to most or all of the oil from that region forever.

Dark-Star on March 9, 2011 at 11:26 AM

The oil is deep under ground, and most of the radioactivity is transitory.

Slowburn on March 9, 2011 at 11:41 AM

Some Democratic lawmakers say yes, and assert that now is the time for the United States to dip into itsStrategic Petroleum Reserve, which is brimming with 727 million barrels of crude.

“Brimming” with 727 million barrels? At current import rates, that’s not even two months’ worth! The SPR was put in place as an emergency supply IN WARTIME if some enemy cut off our supplies, such as with a naval blockade. As it turns out, a naval blockade of petroleum supplies has been imposed in the Gulf of Mexico, by our own President.

we are pushing forward with oil and gas development both offshore and onshore

Huh? Where? The Gulf? ANWR? The Southeast coast?

“The President has said we are supporting nuclear, we’re support other clean air energy forms

One more example of the smoke-and-mirrors shell game the Democrats play with energy, making believe that other sources of ELECTRICAL energy somehow replace OIL, which is mostly used for TRANSPORTATION. Only about 3% of our electrical energy comes from oil, so that replacing that with nukes or sunshine or windmills is a drop in the bucket.

Most of our OIL imports are used for TRANSPORTATION, and no one is seriously considering mounting nuclear reactors on cars, trucks, buses, or planes–it’s just too d@mned unsafe!!! We could save SOME oil by converting home heating to natural gas, but even then we need to Drill Baby Drill !

Obama could bring down oil and gasoline prices with the stroke of a pen, just as Bush did in 2008–by opening large areas of the Gulf, the East Coast, and ANWR for drilling. That wouldn’t bring any new oil to market for a few years, but it would undermine the “oil futures speculators” who are driving up CURRENT prices buying contracts to buy oil at a fixed price up to five years from now. If the market was convinced that the U.S. would drill for its own oil, world supplies would INCREASE a few years from now, and speculators would NOT bet that future oil prices would be higher than current prices.

Where there’s a will, there’s a way.

Steve Z on March 9, 2011 at 11:45 AM

It’s the Mad Libs talking point:

“We don’t believe that you need to drill everywhere and we don’t believe that the ‘drill, baby, drill’ program is the way that’s going to get us to the energy independence that we need for America or that will power our economy”

We don’t believe [insert strawman here] is the way that’s going to get us to [insert nirvanna here].

Therefore [insert mad liberal position here].

Let’s give it a whirl:

We don’t believe [deporting 12 million undocumented,mostly peaceful,law abiding persons] is the way that’s going to get us to [a just and colorblind society with borders that are both secure and an immigration policy that provides our economy with the workers it needs].

Therefore [we should provide a path to citizenship for those already here before trying to secure the border].

hit and run on March 9, 2011 at 11:57 AM

Obutthead said it loud and clear during the campaign. He would like to see gas go to $10 a gallon. Using the reserves as was said by Eric Bolling last weekend, will up the price of gas even more. It won’t help a bit…and as you said, Ed. It is only a small, temporary fix.

The saddest part is…if everyone were forced to go to horse and buggy….PETA would be on their butts for cruelty to animals.

We’re being lead by a bunch of loons!!!

capejasmine on March 9, 2011 at 12:00 PM

I won’t be able to buy a Rolls Royce, even if I keep working, so I may as well just quit.

reaganaut on March 9, 2011 at 12:20 PM

Unless you’ve been to RL you shouldn’t poach Rush’s schtick.

darwin-t on March 9, 2011 at 10:58 AM

Tell it to RedState…I simply posted alink.

Baxter Greene on March 9, 2011 at 12:23 PM

Interior Dept head Salazar said that drilling in the Artic will not make us energy independent and therefore we should not do it.

I sh!t you not. As the gasoline goes up up and up. Salazar says there is no reason to drill in the Artic because it will not make us energy independent.

So using his reasoning I guess it’s stupid to exercise since it will not make us immortal…..

unseen on March 8, 2011 at 10:26 PM

unseen on March 9, 2011 at 10:17 AM

Winner winner, Sheen dinner.

I see the democratics utilizing a divide-and-conquer strategy in this respect as well as on the federal budget discussions. They know that a massive bill addressing budget cuts across the board including entitlements will founder in Congress, so they attack the small steps as insignificant. They are of course insignificant standing alone, but if we keep taking insignificant steps for the next couple of years we can make real progress.

So it is with oil; they tell us that opening ANWR won’t make a significant dent in our requirements. They say the same about California offshore oil, Florida oil, Gulf permitting, oil shales, increased fracking, etc, etc. Take them all at once and we can crush the price of oil.

slickwillie2001 on March 9, 2011 at 12:35 PM

The bustling entertainment districts of one of the world’s largest cities, Seoul, were pitched into darkness as the government clamped down on energy use to cope with rising oil prices.

It begins again. The world economy imploded last time and it will implode again this time. Nothing has changed….

unseen on March 9, 2011 at 12:41 PM

The increase has a multiplier effect across the economy as higher gas prices force increases in the costs of goods brought to market, especially in produce. As Americans pay higher and higher bills at the pump and at the grocery-store register

Why do Democrats HATE the poor?

antisocial on March 9, 2011 at 12:42 PM

So it is with oil; they tell us that opening ANWR won’t make a significant dent in our requirements. They say the same about California offshore oil, Florida oil, Gulf permitting, oil shales, increased fracking, etc, etc. Take them all at once and we can crush the price of oil.

slickwillie2001 on March 9, 2011 at 12:35 PM

so the dems are the fat guys that stay on the couch saying it doesn’t matter?

unseen on March 9, 2011 at 12:43 PM

Dependent on the Saud family?……….

……nothing a little EXECUTIVE ORDER from PRESIDENT PALIN wouldn’t cure.

PappyD61 on March 9, 2011 at 12:47 PM

This has all happened before,
It will happen again.
So say we all.

OkieDoc on March 9, 2011 at 12:59 PM

One drilling permit issued in 12 months.

Kiss my ass, you lying POS.

BobMbx on March 9, 2011 at 9:40 AM

FIFY.

dominigan on March 9, 2011 at 1:02 PM

Interior Dept head Salazar said that drilling in the Artic will not make us energy independent and therefore we should not do it.

I sh!t you not. As the gasoline goes up up and up. Salazar says there is no reason to drill in the Artic because it will not make us energy independent.

unseen on March 8, 2011 at 10:26 PM

We should turn it around and say that since “green jobs” will not make us energy independent, we should not do it.

While we all know the real argument, that green jobs have cost us hundreds of thousands of dollars in subsidies for each job, and that it chases real jobs out of the economy, there’s just something right about using their own words against them.

dominigan on March 9, 2011 at 1:05 PM

But “Drill baby, drill” would conflict with Obama’s goal to make gas cost $10/gallon, forcing you to skateboard to work!

/sarc>

landlines on March 9, 2011 at 1:29 PM

But “Drill baby, drill” would conflict with Obama’s goal to make gas cost $10/gallon, forcing you to skateboard to work!

/sarc>

landlines on March 9, 2011 at 1:29 PM

I fail to see the sarcasm.

Slowburn on March 9, 2011 at 1:33 PM

As well, they SHOULDN’T tap the oil reserves…. DRILL, BABY, DRILL!!!

CynicalOptimist on March 9, 2011 at 2:31 PM

seriously…..how do folks this CLUELESS and STUPID get into this position??

SDarchitect on March 9, 2011 at 9:53 AM

They don’t!

They are neither clueless nor stupid.

They mean to do precisely what they are doing.

Trying to engage in some convoluted reasoning to explain how they can get raise funds, get elected, engage in complicated corruption schemes, but somehow are just too ignorant to understand the all too obvious effects of their action is to be deliberately naive.

They mean to do precisely what they are doing.

sharrukin on March 9, 2011 at 2:44 PM

How much money do you think Soros is making on his Petrobas investments with oil above $100 a barrel? Is it really that difficult to figure out why this is happening? Of course not.

Now, what if Bush had sent 2 billion dollars to Brazil specifically earmarked for their petroleum industry, had a known patron who had massive investments in same, and then proceeded to shut down every single domestic energy source he could get his hands on? Imagine the outrage from the leftists. Talk about being in bed with big oil. And yet?

Crickets….

runawayyyy on March 9, 2011 at 4:23 PM

The wells that would have been started three years ago would probably now be in a position to start helping in this new energy crisis. Wells we drill now will be ready for the next crisis. Doing nothing is folly and destructive.

{^_^}

herself on March 10, 2011 at 2:30 AM

Here in New York State the tax on a gallon of gas is 19% so when gas hits four bucks a gallon the state tax will be 76 cents on each gallon. The numbers speak for themselves folks. When the price goes up the state gets paid more. Is it any wonder the politicians just love this?

mixplix on March 10, 2011 at 6:33 AM

Here’s a better run down of the gasoline taxes for all the states. My last is too conservative. http://www.gaspricewatch.com/usgastaxes.asp

mixplix on March 10, 2011 at 6:45 AM

I had the honor to meet with Dr. David Criswell recently to learn about his solution for the world’s energy needs. His plan, while futuristic, is based on solid science. Unfortunately, it requires vision, something of which this administration is completely bereft. Meanwhile, I will continue to sell my oil at $100+ per barrel while Obama redirects NASA to ‘reach out’ to an ethos mired in the sixth century.

Jocundus on March 10, 2011 at 9:02 AM