What About Current Gas Prices?

As I have been visiting around the district, meeting people, the one consistent question I'm being asked is, "What will you do about the price of gas?"

Should the current trend remain the same, which we should expect with our current President and Congress, in 2008 we will export over 651 billion dollars to other countries for oil. Worse yet, over 416 billion of those dollars will be given to our enemies. Yes, this year, Americans (You and I) will be giving 416 billion dollars to nations who wish to see us annihilated. And, what is George Bush or Congress (or Lord Boustany) doing about it? Really, not a thing.

Oh, they are making some new noise ... as could be predicted, blaming the Democrats for the current oil pricing. Now they are demanding that we open up drilling in ANWR and the Outer Continental Shelf. Great idea, but too little ... too late. For six years we had a Republican President, Republican House and Republican Senate. When they had absolute power to achieve that necessary goal, what did they do? NOTHING. Absolutely NOTHING. Indeed, whatever John McCain may spew out in the future, he historically voted against exploration in ANWR and offshore drilling. But, this gives them a little Tonka toy to crash into the Democrats Tonka toy. A lot of noise with absolutely no substance. Americans will continue being raped and pillaged by our enemies and our leaders could not care less.

In April, when oil hit the $130 per barrel mark, oil man T. Boone Pickens predicted that oil would reach $150.00 per barrel in the near future. Goldman Sachs predicted it would reach $200 per barrel. Their predictions were based on the pricing frenzy on the New York Mercantile Exchange. Of course, they have no problems with the pricing reaching those levels. While you and I are paying $4.00 per gallon of gasoline and $4.50 for diesel, they are making lots of profits ... that, of course, our enemies also profit from.

What will our federal government do if oil reaches $200 per barrel? $300 per barrel? $400 per barrel? No plans yet. Just as they had no plans for when it hit $130 per barrel. You can count on it, however, the Democrats will blame the Republicans and the Republicans will blame the Democrats, and you and I will suffer further.

So, what will Peter Vidrine do to put oil prices when they should be (in a free marker of supply and demand?) First, I will support offshore drilling on the Outer Continental Shelf and exploration in ANWR. This should never have been a political issue. It's a national security issue. It's absolutely ridiculous to watch our President and the neocons saber rattling against the terrorists, while openly supporting them financially by blocking exploration and production in the United States. Their hypocrisy is repulsing.

Second, we need to turn over all offshore production royalties to the coastal states hosting oil and gas production. For too many years, Louisiana and Texas have been producing the bulk of this nation's oil and gas supply, yet to little benefit to the states. While states like Florida and California do everything in their power to prevent offshore exploration and development off their coasts, they reap the benefits of what we're doing in Louisiana and Texas. If each state could benefit directly from the royalties of oil and gas production off their coasts, you would certainly see greater support to extract fuel in those states.

Third, we must immediately curtail speculation. The reality is that there is no oil shortage and demand has not gone up. Most analysts estimate that based on current supply & demand, the price of oil should be around $50-60 per barrel. It is no longer OPEC controlling prices, it is Wall Street speculators. Of course, OPEC and our enemies are more than happy to have the speculators doing their dirty work ... they're doing a better job. There are many options we have to rein in the speculators. Congress should do it. Congress MUST do it.

Fourth, really, really support the research and development of alternative fuels. We need to run away from the insane option of subsidizing corn based ethanol (aside from destroying our food chain, it will be an environmental and economic disaster), and take a serious look at cellulose and sugar cane based ethanol. Even today, the seventh district has a plant in Jennings (Verenium) developing the process to convert bagasse (Sugar cane waste) and other wastes into alcohol. Cellulose based ethanol will have no negative impact of our food supply environment, it just makes sense.

Whenever our President and Congress decide to quit playing politics with oil & gas and quit letting Wall Street play Virtual Casino with our gas and home heating oil affordability, then and only then will sanity dictate what you and I spend at the gas pumps.

Your vote for Peter Vidrine will certainly bring a voice of reason and concern to Washington; a voice, not a whimper.

Links: