Ten US Senators, five Republicans joined by five Democrats, have decided to craft an energy bill in the Senate that that will be an economic disaster for our country. The group is called the “Gang of Ten” and they have actually created more obstacles to drilling with their proposed compromise legislation. Do you want PETA and the ACLU deciding when it is permissible to drill for oil? This bill prohibits drilling within fifty miles of the US coast. This means that many of the most productive areas will be off-limits. Do you want drilling for oil and natural gas restricted to fifty miles off of the coast of just four (4) states?
This is a scam. This so-called compromise is a surrender to the radical environmentalists and their secular progressive pawns. Republican Senators Graham, Thune, Chambliss, Corker and Isakson are blatantly conspiring with Democratic Senators to ruin our economy by keeping the price of gas high and giving the tree-huggers exactly what they want; more power and federal subsidies.
Kimberly Strassel of The Wall Street Journal recently wrote:
“The Sierra Club couldn’t have penned it better. And so the Republican Five has potentially given anti-drilling Democrats the political cover they need to neutralize energy through November.”
Strassel is absolutely right. The Institute for Energy Research has called this bill a blueprint for economic disaster. Oil production on federal offshore lands is left to the discretion of state legislatures. Only four coastal states would be granted the ability to “opt out” of energy bans. The 50-mile limit would exclude rich resources, such as the Gulf of Mexico’s Destin Dome, which is 25 miles offshore. This bill ignores our urgent national emergency that requires the repeal of the offshore energy exploration and production bans which brought us to this economic crisis to begin with.
Of course, many politicians claim to be saving the planet by refusing to allow drilling for oil. You may remember CNN’s special worldwide investigation “Planet in Peril,” which was broadcast in two segments. The program was mostly a propaganda piece for “man-made” global warming zealots. One scientist, James Hansen, was assertive in advocating the “warming” myth through his research. Hansen did not mention that his research was funded to the tune of $720,000.00 by one of billionaire George Soros’ foundations. Mr. Soros’ foundations have a reputation for support of environmental extremist causes.
I mention this because George Soros recently bought an $811 million stake in Petroleo Brasileiro. The Brazilian state-controlled oil company is now his investment fund’s largest holding. The Rio de Janeiro-based oil producer makes up 22 per cent of the $3.68 billion in stocks and American depositary receipts held by Soros Fund Management.
If our environmental friendly, elected representatives in Washington succeed in stopping energy legislation that completely opens up the US for domestic drilling and energy production, I’m certain that there will be a lot of money to be made in Petroleo Brasileiro. I am also certain that the prices of energy and food will soon hit record prices again.
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