Obama To Hammer McCain On Offshore Drilling "Gimmick"

(CBS)
From CBS News' Maria Gavrilovic:
(LAS VEGAS) Offshore drilling continues to be a major sticking point between Barack Obama and John McCain, and the two candidates are still jabbing at each other’s position for the second week. Obama, who has argued that drilling will not immediately lower gas prices, is expected today to condemn McCain’s recent comments about the “psychological” benefits of offshore drilling.
At a campaign stop in Fresno yesterday, McCain said, “I don't see an immediate relief, but I do see that exploitation of existing reserves that may exist, and in view of many experts that do exist off our coasts, is also a way that we need to provide relief. Even though it may take some years, the fact that we are exploiting those reserves would have psychological impact that I think is beneficial."
Obama, who wants to keep a moratorium on offshore drilling, will argue that McCain is offering a “gimmick” similar to the gas tax holiday proposal. Obama opposes the gas tax holiday that McCain supports, arguing the Arizona senator's proposal could cripple highway funding while offering minimal relief at the gas pump.
Obama will discuss his energy plan, which includes the promotion of "green jobs," at Springs Preserve in Las Vegas later today. The Springs Preserve is an historical site which showcases energy efficient buildings.
UPDATE:
In Las Vegas this afternoon, Obama slammed McCain’s energy proposals, arguing that they are “gimmicks” that may poll well but do not provide immediate relief. Obama said that he supports McCain’s $300 million battery prize but that alone would not be enough. “When John F. Kennedy decided that we were going to put a man on the moon, he didn’t put a bounty out for some rocket scientist to win – he put the full resources of the United States government behind the project and called on the ingenuity and innovation of the American people," Obama said.
Obama admitted that his own plan will not immediately affect gas prices but said his proposal for a second stimulus package will offer overall financial relief. “I wish I could wave a magic wand and make gas prices go down, but I can’t," he said. "What I can do – and what I will do – is push for a second stimulus package that will send out another round of rebate checks to the American people.”
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And really, with the rate of growth of India and China, you''ve got to be hitting the crack pipe to think what small amounts of oil we can get out of coastal reserves is going to make any meaningful difference 10 years from now.
The answer is electricty and to use the federal government to make the move happen. We can address global warming, pollution, air quality, energy security, and cheap abundant energy all with one good energy policy. We can have our cake and eat it too, but not with oil. The days of cheap oil are gone, the sooner these old people trying to reclaim the glory days of their youth accept it and move forward from there, the sooner we can get our nation back on the right track.
Vote Republican, vote for higher Fuel and Energy $Costs, along with everything else!
Obama''s eyes should be twinkling at the prospect of AMERICANS working and being able to pay some taxes...BUT HE''S JUST TOO DAMNED STUPID!
White only in the White House !!!
Lordy, Lordy, Lordy Lordy, what We Racist, White Supremacist & Separatist, going to do !!!
Lordy, Lordy, Lordy, Lordy !!!
Jesus is White, Jesus is White, Jesus is God...
Lordy, Lordy, Help Us, White Jesus !!
Keep The White House White, George Bush is a Great White President and So will Semi-Senile, Pasty, Pale John McCain with his Drug Addicted Aryan Wife Cindy at his Side.
The odds are you couldn''t get any significant amounts of crude from coastal areas within the next decade. Offshore rigs, if you want to go get one, tough luck.
They are all leased out. Even if the infrastructure is there, it would be hard, but the Infrastructure isn''t there...
But markets react to future developments and even if the crude is not flowing, the project itself could have an impact on markets."
But the assertion that offshore drilling could have an impact on oil prices by placating oil speculators is itself a contested proposition.
And some analysts insist that it is wishful thinking that the market would suddenly perk up because of the prospect of more supply.
"But it was the same argument that was used any time over the past ten years, that it would take too much time for this stuff to have an affect... Having a couple million extra barrels on the world market would eventually help ease those markets."
Other expressed similar, qualified skepticism about the short-term benefits of McCain''s plan.
"Would starting to drill now do anything for consumers in the near future?" asked Ken Green, an energy analyst with the American Enterprise Institute.
Note: "The answer to this one, again in my opinion, is probably NOT, since it''ll take So Long for New Oil or Gas to come to Market.
Added Jerry Taylor, a fellow at the Cato Institute, "I think it would have an Effect, just not a MAJOR EFFECT.
And in a moment of sincerity, a senior adviser to the ..
Note: Arizona Republican,Douglas Holtz-Eakin, acknowledged that New Offshore Drilling wouldn''t have an Immediate Effect on Gas Prices.
In fact, three weeks before he came out in support of Drilling, Senator JohnMcCain Himself acknowledged that Offshore Resources "Would Take YEARS to DEVELOP."
The Energy Information Administration estimated that oil from these sites would hit the market around (2017) and peak around (2027).
Rushing the process would likely only result in less supply. "The faster we try to drain the less efficient the drainage," said Dr. Ralph Byrns, Professor of Economics at UNC-Chapel Hill.
"If we drain it dry and still get 14 billion barrels of oil [the President has suggested 18 billion], that itself would still take 20 years."
Total Imports of Petroleum Oil (Top 15 Countries)
(Thousand Barrels per Day)
Drill all You want, You can`t produce the Oil these Countries provide, nor will you see a drop in price at the gas pumps. Over 300 Million Americans,
The Demand is Too Great and it will take 7-10 years to bring this Oil on shore, by that time, Gas will be 15 $ per gallon an we`ll be riding Horse & Carriage.
If we were so Oil Rich, why hav`nt the past Presidents of the last 60 years, kept the USA Oil Independent ?
Because of the Over 300 Million USA Oil Supply & Demand..Pompous A$$ Thats Why..The Need & want are Too Great.
What did 2 Term President George Bush Jr. do to Overrule Bill Clinton`s Law against USA OffShore Oil Drilling..
Answer Nothing, When he could have !!
CANADA 1,952 1,795 1,902 1,909 1,846
SAUDI ARABIA 1,453 1,535 1,519 1,458 1,358
MEXICO 1,259 1,232 1,230 1,460 1,471
NIGERIA 1,115 1,154 1,105 891 1,089
VENEZUELA 1,019 858 990 1,182 1,070
IRAQ 679 773 693 562 488
ANGOLA 579 384 469 514 556
ALGERIA 393 247 300 530 495
BRAZIL 201 188 182 175 174
KUWAIT 176 199 218 126 187
ECUADOR 160 231 203 159 200
COLOMBIA 149 135 168 79 100
CHAD 133 101 110 80 76
RUSSIA 106 108 77 269 137
LIBYA 85 75 68 45 56
Country Apr-08 Mar-08 YTD 2008 Apr-07 YTD 2007
- by jack3213 June 24, 2008 4:03 PM EDT
- Yet my sense is something fundamental is changing in how we view Obama; he is losing what made him seem special and inspiring. He is nothing but a FRAUD. A silly black man who does not know what he stands for. An inexperianced politician who is hypocritical and seeking nothing but selfish celebritory fame. ABSURD to elect such a liar. Bill Clinton ruined it for Hillary- he will ruin it for Obama. Down comes spider...........
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