Kathianne
04-01-2011, 01:33 PM
Really, quite unreal:
http://online.wsj.com/article_email/SB10001424052748703806304576233071178867598-lMyQjAxMTAxMDAwMTEwNDEyWj.html
(I hope the link isn't hidden by subscription):
* APRIL 1, 2011
The Secret to Brazil's Energy Success
Over the past 20 years the country increased domestic oil production by a whopping 876%.
By STEVEN F. HAYWARD
The Obama administration's energy policy is in the midst of transition from being stubbornly ideological to being wholly incoherent. That much was clear when President Obama unveiled his Blueprint for a Secure Energy Future this week.
With gasoline prices climbing above $4 a gallon, the administration is talking about tapping our Strategic Petroleum Reserve in a desperate attempt to hold down pump prices. It's also expanding subsidies and incentives for energy supplies that cost a lot more than oil, and it's aiming to reduce our dependency on foreign oil by one-third over the next 10 years.
Meanwhile, in a bizarre turn, Mr. Obama recently expressed enthusiasm for aggressive offshore drilling—in Brazil...
...Mr. Obama tried to thread the needle by claiming to be pro-domestic production, while at the same time embracing the tired talking point that because the U.S. has only 2% of the world's proven oil reserves—about 20 billion barrels—we can't hope to achieve independence from foreign oil from our own resources.
Yet a recent report from the Congressional Research Service that has received surprisingly little attention concludes that the U.S. probably has as much as 155 billion barrels of oil recoverable with existing technology that we simply haven't looked for or have closed off from exploration for political reasons. That's five times the outdated and misleading figure Mr. Obama cites. And there are an additional 700 billion barrels of oil shale and other unconventional hydrocarbons that could be developed here at home. That's more than the oil reserves of Saudi Arabia.
Mr. Obama ought to tell the whole story about Brazil, instead of just half of it...
http://online.wsj.com/article_email/SB10001424052748703806304576233071178867598-lMyQjAxMTAxMDAwMTEwNDEyWj.html
(I hope the link isn't hidden by subscription):
* APRIL 1, 2011
The Secret to Brazil's Energy Success
Over the past 20 years the country increased domestic oil production by a whopping 876%.
By STEVEN F. HAYWARD
The Obama administration's energy policy is in the midst of transition from being stubbornly ideological to being wholly incoherent. That much was clear when President Obama unveiled his Blueprint for a Secure Energy Future this week.
With gasoline prices climbing above $4 a gallon, the administration is talking about tapping our Strategic Petroleum Reserve in a desperate attempt to hold down pump prices. It's also expanding subsidies and incentives for energy supplies that cost a lot more than oil, and it's aiming to reduce our dependency on foreign oil by one-third over the next 10 years.
Meanwhile, in a bizarre turn, Mr. Obama recently expressed enthusiasm for aggressive offshore drilling—in Brazil...
...Mr. Obama tried to thread the needle by claiming to be pro-domestic production, while at the same time embracing the tired talking point that because the U.S. has only 2% of the world's proven oil reserves—about 20 billion barrels—we can't hope to achieve independence from foreign oil from our own resources.
Yet a recent report from the Congressional Research Service that has received surprisingly little attention concludes that the U.S. probably has as much as 155 billion barrels of oil recoverable with existing technology that we simply haven't looked for or have closed off from exploration for political reasons. That's five times the outdated and misleading figure Mr. Obama cites. And there are an additional 700 billion barrels of oil shale and other unconventional hydrocarbons that could be developed here at home. That's more than the oil reserves of Saudi Arabia.
Mr. Obama ought to tell the whole story about Brazil, instead of just half of it...