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Musings and Meanderings

Tuesday, May 09, 2006

This is still bugging the heck out of me
so I turned to media matters for the facts

I briefly stated my surprise in the sheer gall of Little Tommy De Lay, the new Queen of DeNile, on George Stephanopolis' ABC Sunday Morning this weekend.

Read this:

From the May 7 broadcast of ABC's This Week:

STEPHANOPOULOS: The president is talking now about tapping the Strategic Petroleum Reserve, investigating price gouging by oil companies, maybe raising fuel efficiency standards. Do you think that's the right approach?

DELAY: I mean, I think he's talking about more than just that. I don't think either of those will have an impact on lowering demand or, or increasing supply. We are -- we are paying the price of Democrat policies. The Democrats have stopped us from developing American oil and American gas in this country. They've stopped us from drilling in Alaska, off the offshore of Florida and California, the huge reserves of oil shell and natural gas in the West. They stopped it. If President Clinton had signed drilling in ANWR back in the '90s, we would be enjoying a million barrels a day more today, and that would have an impact on gas prices.

STEPHANOPOULOS: Relatively small, but you are -- clearly are paying a price also with your base right now. And I want to show you --

DELAY: It's not relatively small. A million barrels a day is pretty significant. It's exactly what we're losing in the Middle East.

HERE ARE THE FACTS

Contrary to DeLay's claim, the 2006 Annual Energy Outlook (AEO) report released in February by the Energy Information Administration (EIA) concluded that, if ANWR had been opened for development in 2005, daily production would have peaked at 780,000 barrels per day in 2024, falling to 650,000 barrels per day by 2030. In addition, a Department of Energy study conducted by EIA found that oil production in ANWR would have a relatively insignificant impact upon crude oil prices.

The report concluded that drilling in ANWR would reduce oil prices by 30 to 50 cents per barrel by 2025, "relative to a projected 2025 world oil price of $27 per barrel" The report also noted that the Organization of Petroleum Exporting Countries (OPEC) "could countermand any potential price impact of ANWR coastal plain production by reducing its exports by an equal amount."

Further, contrary to DeLay's claim that Democrats were responsible for blocking drilling off the coast of Florida, The Washington Post reported on May 30, 2002, that it was the Bush administration that blocked drilling there.

Truth is indeed a rare commodity with these Republican't s from Texas.
posted by Mike 7:06 PM

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The musings and meanderings of an overworked and underemployed mind