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Newt Gingrich - Three Things To Lower the Cost of Oil

Here’s something to ask ourselves: Are we being held hostage by foreign oil as we’re been told? Or is Congress the real culprit?

I remember when the Republican led Congress passed a bill to drill, only to have it vetoed by Bill Clinton. Well, here we still are. So in this video clip, Newt Gingrich suggests three things we should do now to dramatically lower the cost of oil.

Is anybody listening?

Posted on Aug 12, 2008 at 10:00AM by Registered CommenterDoug in , , | Comments18 Comments

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Reader Comments (18)

As if it were so easy. It would take 10 years to ramp up for drilling. We need a fix now.

August 12 | Unregistered Commentertrjcb45

I think he proposed an almost "instant" fix: Release a third of the oil reserves!

You know, "it takes too long" is the same argument thats been used for the last 20 years, so nothing gets done. If Clinton hadn't vetoed the drilling legislation, we wouldn't be where we are now. If we don't correct that now, we will still be here in 5-10 years. Meanwhile, Democrats refuse to budge on either releasing reserves or drilling. Obama's "plan" is for us to inflate our tires. Invent an alternative fuel.

I agree we should have several alternative fuels. AND oil until it is no longer needed. But we need the oil right now.

August 12 | Unregistered CommenterJGS

You can't argue with that!

August 12 | Unregistered CommenterHenry

Draft Newt for President!

Seriously, the man is smart and a born motivator. Why isn't he running for President? Because a lot of Democrats don't like him? So what?

August 12 | Unregistered CommenterTina and Jack

Most auto manufacturers are coming out with alt fuel cars. Even Porsche! I don't know how many will be hydrogen powered, but "flex" is becoming a popular word in the auto industry.

But don't think that will save us anytime soon. For one thing, we don't have a distribution network for things like electricity, ethenol, anything but gas. And we are being hurt by oil today. Right now. If you are being bitten by a big, mean dog, waiting for legislation to provide dogs an alternative to humans to bite won't help you. You need the dog off you right now! Same with affordable gas. We need it now and until we can distribute a replacement.

It isn't rocket science people! Newt's proposal is the only one that makes sense!

August 12 | Unregistered CommenterFrasier

As I understand it, the process to extract oil from shale is expensive and unproven.

August 12 | Unregistered CommenterAnderson

Newt got in trouble with Congress and was forced to step down speaker. Some feel he is still tarnished as a presidential candidate.

August 12 | Unregistered CommenterUncle Al

I agree, he would make a great candidate!

August 12 | Unregistered CommenterAndy

As oil and gas prices climb, Congress continues to play the blame game. In April 2006, with the Democrats poised to take over Congress with Nancy Pelosi at the helm, she released a statement saying, "With skyrocketing gas prices, it is clear that the American people can no longer afford the Republican Rubber Stamp Congress." She followed that with a commitment: "Democrats have a commonsense plan to help bring down skyrocketing gas prices by cracking down on price gouging." So, has the Democrats' common-sense plan worked? Average gas prices were about $2.50 a gallon at the time. Now they're $4+ a gallon and rising. Some crackdown plan.

August 12 | Unregistered CommenterAndrew Pruitt

Why aren't we getting free oil from Iraq to pay for liberating their country?

August 12 | Unregistered CommenterJacob

Good question, Jacob.

Iraq's oil minister reported just a couple months ago that oil production is at prewar levels (2.5 million barrels a day), yielding earnings for Iraq of $28.5 billion in just the first five months of this year. What that means is soon we likely will be dependent and in debt to yet another Middle Eastern oil-producing country that we've helped stabilize and become wealthy while ours is going straight down the tubes.

August 12 | Unregistered CommenterAndrew Pruitt

Yeah, what about that? The democrats said we went to war to get the oil. So why aren't we taking it as spoils of war? At least they should be giving it to us to pay down the debt for giving them back their country from the dictator that was robbing them blind. Are we even getting a discount?

August 12 | Unregistered CommenterUlrica

That's right, blame the evil democrats. blah blah blah.

August 12 | Unregistered Commenteriytw523

Since you bring it up, here are some interesting historical statistics to remember in November (from a post by Forest Hunter):

Who’s to Blame for High Gas Prices?

For several decades, the Democratic Party has pursued policies designed to drive up the cost of petroleum, and therefore gas at the pump. Remarkably, the Democrats don’t seem to have taken much of a political hit from the current spike in gas prices. Probably that’s because most people don’t realize how different the two parties’ energy policies have been.

Congressman Roy Blunt put together these data to highlight the differences between House Republicans and House Democrats on energy policy:

ANWR Exploration
House Republicans: 91% Supported
House Democrats: 86% Opposed

Coal-to-Liquid
House Republicans: 97% Supported
House Democrats: 78% Opposed

Oil Shale Exploration
House Republicans: 90% Supported
House Democrats: 86% Opposed

Outer Continental Shelf (OCS) Exploration
House Republicans: 81% Supported
House Democrats: 83% Opposed

Refinery Increased Capacity
House Republicans: 97% Supported
House Democrats: 96% Opposed

SUMMARY

91% of House Republicans have historically voted to increase the production of American-made oil and gas.

86% of House Democrats have historically voted against increasing the production of American-made oil and gas.

August 12 | Unregistered Commenterhankthetank

Don't you think that natural resources should be left for future generations of Americans? Or should we have a right to take them all now? Don't we have a responsibility to our grandchildren and their children?

August 12 | Unregistered CommenterGoulven

If you want to argue consumption of “natural resources” where do you draw your line? Should we all just go back to a medieval existence? I’m all for utilizing the resources we have to the fullest extent while seeking alternatives.

Meanwhile, I'm for developing clean nuclear power and hydrogen so we don't need oil. But democrats have hamstrung America, blocking essentially every Republican effort to move in that direction. They have forced our continued dependence on foreign oil while blocking every effort to drill our own and free ourselves from foreign dependence.

If left to Democrats, we will go bankrupt as a nation and our great grandchildren will inherit just that, along with the unused natural resources that could have saved it.

August 12 | Unregistered CommenterAndrew Pruitt

You might find this article interesting. Naturally Colorado officials don't want shale oil exploration in their back yard, but it's the Democrats ringing the old "need more research" refrain that sounds so familiar, despite that the research, studies etc have been ongoing since 2004.

http://www.rockymountainnews.com/news/2008/Jul/22/oil-shale-proposal-stirs-lawmakers-anger/

August 12 | Unregistered Commenterkrager34

It is amazing to me that we are the only country in the world not drilling for our oil and natural gas [American Petroleum Institute and numerous other sources]. Unbelievably, China and Cuba are about to begin oil and natural gas drilling 50 miles off of our Atlantic coast! And with the capability of horizontal drilling, they will undoubtedly be stealing our off-shore oil and natural gas.

"Stupid is as stupid does" and Alice's "up is down and down is up" aptly describe our Democratic Congress headed up by incompetents Pelosi and Reid. And Obama is a co-conspirator. But the fact remains, if we do not begin to drill now it may be too late. It may already be too late.

August 12 | Unregistered CommenterFelix C.
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