The Daily Star, Oneonta, NY - otsego county news, delaware county news, oneonta news, oneonta sports


August 8, 2008

On the Right Side: Democrats to blame for energy crisis

The last two columns, using facts, reasoning and common sense, removed the oil companies and the administration from culpability involving high energy prices. Who's left then? Congress and its environmental radicals, of course.

Nancy, Harry and now Obama simply say, like trained parrots, "We can't drill ourselves out of the problem."

You can expect to hear this phrase over and over right up to election time, even though it is blatantly false. After stating this, one might wonder what their plan is.

First, their strategy has been to blame, in addition to the oil companies and Bush, those individuals speculating in oil futures.

What is wrong with this? People speculate in all kinds of commodities. Some win big and some novices lose big (except for Hillary and her earlier cattle futures bonanza).

Don't the Democrats understand that when demand goes up and supply remains constant, prices rise? This is especially true with necessities. People "speculate" in all kinds of investment opportunities. Stocks, bonds, art and real estate; the list goes on and on.

If you want to prevent speculators from profiting, show them you're serious about increasing supplies through on- and off-shore drilling and extracting oil from shale in the Bakken region of the Midwest, where there exists an estimated supply that would dwarf all of Saudi Arabia's known reserves.

As Newt Gingrich said recently, if the government stated today that we would be releasing the oil in our strategic reserves and showed the world we had a serious drilling strategy, prices would drop immediately, taking the lucrativeness out of oil speculation.

I guess I have to say it once more. The strategy should be to implement rational conservation plans, increase the supply of oil as a bridge until we unleash our entrepreneurial spirit, and provide incentives to come up with alternative energy sources so that we may maintain our present standard of living.

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