The Beauty of Drilling

Gosh, that’s a pretty photo.

“Drill, baby, drill” falls short of a serious energy policy. But a serious energy policy would certainly involve plenty of drilling: Oil exploration is one of the most environmentally sensitive endeavors in all of heavy industry; the world’s not running out of oil anytime soon; and the notion that windmills, solar panels, and biofuels can easily replace fossil fuels is a joke.

By Jonah Goldberg

That’s from the digital National Review. It should be on the racks soon.

And since we’re on the topic, here’s an op-ed in the Washington Examiner by Max Schulz of the Manhattan Institute, “Punishing oil and gas producers makes no sense.”

The president’s focus has seemed to be on punishing oil and gas producers, not protecting consumers from the shock of rising prices. The budget that Obama worked out with Congress socks energy companies with tens of billions of dollars in new levies, and specifically forbids them from claiming the manufacturing tax deduction available to every other American industry. Such policies will make it more expensive and more difficult to bring oil to market.

The global warming legislation making its way through Congress with Obama’s blessing will similarly hurt consumers. The boondoggle bill gives emissions permits to electricity producers, but virtually none to the transportation fuel sector. The petroleum industry will have to pay for its permits, meaning cap-and-trade is, in the words of GSW Strategy Group analyst Geoffrey Styles, “a targeted tax on gasoline, diesel and jet fuel.”

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