Friday, November 06, 2009

IBD: Power to Spare, the Palin Way

From Investors Business Daily

As Palin jousts with Biden on energy independence, the government reports that we lead the world in energy reserves. From oil to gas to coal, we are sitting on prosperity. So why are we importing anything?

One of the interesting sidelights of the NY-23 race was an exchange on energy independence between Vice President Joe Biden and the former governor of energy-rich Alaska, Sarah Palin. Biden, who came in to campaign for Democrat Bill Owens, was reminded of the issue of energy.

"The fact of the matter is that Sarah Palin thinks the answer to energy was 'Drill, baby, drill,'" Biden said at an Owens fundraiser, referring to Palin's own campaign slogan last year. "No, it's a lot more complicated, Sarah, than 'Drill, baby, drill.'"

Actually, it's not, according to a new report produced by the Congressional Research Service, hardly an outpost of the vast right-wing conspiracy or on the payroll of Big Oil. The report says that if all our energy resources are added up and converted to a barrels of oil equivalent (BOE), the U.S. has the largest reserves in the world.


Alaska's Chukchi Sea, part of the designated habitat, holds more oil and gas than anyone thought — 1,600 trillion cubic feet of undiscovered gas, or 30% of the world's supply and 83 billion barrels of undiscovered oil, 4% of the estimated global resources.


In her Facebook response to Biden, Gov. Palin noted Biden "cast one of only five votes against the Alaskan pipeline that has produced more than 15 billion barrels of oil, supplied nearly 20% of the nation's oil, created tens of thousands of jobs (and) added hundreds of billions of dollars to the U.S. economy."

There's more out there not only in the Chukchi Sea, but also locked in Rocky Mountain shale and under the Outer Continental Shelf. Sadly, the report stated that the U.S. has tapped into only 13%, or 21 billion barrels of its oil reserves, with the other 87% still untouched. Drill, Joe, drill.
Read the whole thing here


Post a Comment

  © Blogger template Starry by 2008

Back to TOP