It’s clear just how far to the left Congress truly is. Now we have a second Democrat calling for the nationalization of the oil industry, this time it’s Maurice Hinchey of NY (you’ll recall of course Maxine Walters’ own call for nationalization in the past). So what gives with the Democrats oil policy? Well for starters they hide behind a global warming hoax in order to divert investments into their pet investment projects in order to make a quick buck while demonizing the competition (something they have an extremely long history of doing) as an attempt to monopolize their favored industries.
What’s scary about this is that this is really what most Democrats feel, and I’m sure Obama does as well, yet the media is so far in the tank for these guys that they won’t even call them out for it. In what sense does a promotion of nationalization of industries such as oil and health care not scream “SOCIALISM!” as it is the same path that Hugo Chavez took Venezuela down. Not surprisingly, they weren’t too upset when that happened and they STILL insist Chavez is some sort of good guy. They refuse to allow for increased domestic drilling and supply concerns when even today we see the dangers that we face by being forced to import our oil as Shell had to shut down one of their off shore operations due to rebel attacks. It is simply insane to forgo domestic increases in supply and refining capacity in the private sector.
Besides overall cost benefits, think of how dramatically this would impact our economy. How many jobs would be created, how far would the trade deficit shrink and re-strengthen our dollar, etc? Critics say that it will take at least 7 years for the oil to hit the market place, but even at 7 years, had we gone ahead and started producing oil from ANWR and other sources back when first considered, then we’d have about 1 million extra barrels of domestic oil in the market place today. There are many sources we can tap into but can’t because the Democrats have consistently blocked the attempts to develop American industry.
Recognizing the need for alternative sources of energy, even under optimum circumstances we will not be completely oil free for at least 30 years and probably never. Why? Because we will always have need for oil for older automobiles (not everyone can simply afford to buy new cars) and for things like plastics, etc. Sure the demand will be lower, but in what way is it bad that if our demand keeps dropping as we develop more energy sources that at some point with the start of increased domestic capacity that we could be self sufficient in this realm? Face reality Dems.