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- Jun 10, 2009
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New finds will have a positive impact on future prices, i.e. speculation. Not drilling sure as hell isn't going to lower prices, nor is it going to put more tax revenue in the government's pocket.
Want more tax revenue? Let people go back to work.
Have you not been paying attention what all the experts, including the oil companies have been telling us about the end of cheap oil?
STRATEGIC ENERGY POLICY CHALLENGES
FOR THE 21ST CENTURY
"Energy policy was allowed to drift by both political parties despite its centrality to America’s domestic economy and to our nation’s security. It was permitted to drift despite the fact that virtually every American recession since the late 1940s has been preceded by spikes in oil prices. The American people need to know about this situation and be told as well that there are no easy or quick solutions to today’s energy problems."
"Strong economic growth across the globe and new global demands for more energy have meant the end of sustained surplus capacity in hydrocarbon fuels and the beginning of capacity limitations. In fact, the world is currently precariously close to utilizing all of its available global oil production capacity, raising the chances of an oil-supply crisis with more substantial consequences than seen in three decades."
"As it is, national solutions alone cannot work. Politicians still speak of U.S. energy independence, while the United States is importing more than half of its oil supplies and may soon for the first time become reliant on sources outside North America for substantial amounts of natural gas. More flexible environmental regulation and opening of more federal lands to drilling might slow but cannot stop this process. Dependence is so incredibly large, and growing so inexorably, that national autonomy is simply not a viable goal. In the global economy, it may not even be a desirable one"
STRATEGIC ENERGY POLICY CHALLENGES