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President Obama on Energy Policy, Car Sales, Disposable Income

By | Energy | One Comment

President Obama offered his vision for U.S. energy policy in remarks Wednesday at Gamesa Technology Corporation in Fairless Hills, Pennsylvania. Excerpt from the Q&A:

So number one, increase oil production.  But that’s not a short — that’s not a long — a short-term solution, and it’s a not a long-term solution, either; it will just — it will help a little bit.  Number two, more efficient cars so we’re using our gas more effectively.  Number three, shifting to electric cars and other forms of transportation so we don’t use oil as much.

None of that is going to help you this week, though.  So, like I said, if you’re getting eight miles a gallon you may want to think about a trade-in.  You can get a great deal.  I promise you, GM or Ford or Chrysler, they’re going to be happy to give you a deal on something that gets you better gas mileage.

Hat tip: Glenn Reynolds, Instapundit.

Reaction to President Obama’s Unsatisfactory Comments on Domestic Energy

By | Energy, General | 39 Comments

Excerpting the reaction to President Obama’s comments on energy prices and domestic energy production on Friday.

Jack Gerard, president and CEO, American Petroleum Institute, “API to White House: Long Term Solutions Require Short Term Leadership:”

Long-term problems call for short-term leadership. Suggesting that we rely on other nations to solve our energy challenges is irresponsible and will not increase our energy security. The Obama administration continues to delay or defer action on developing our domestic resources of oil and natural gas at every turn.

The trend is alarming. The administration has postponed lease sales in offshore areas. It has cancelled lease sales in onshore federal lands. It has extended permitting timelines for current leases and added unnecessary regulatory burdens. It has chosen inaction on essential energy projects that would create jobs, drive economic growth, and boost federal revenues.

The administration is well on its way toward creating higher gasoline prices for Americans.

Sen. Mary Landrieu (D-LA), “Landrieu Responds to President’s News Conference on Gas Prices“:

I share President Obama’s concern about how the current crisis in Libya and the constriction of supply in the U.S. are causing gas prices to skyrocket.  Unfortunately, this administration still doesn’t seem to understand that the best way to combat rising gasoline prices is to encourage new domestic development and production of oil.  By issuing permits in the Gulf and by opening new areas for development, we can combat the geopolitical events that affect what this country pays at the pump.

The president wants his administration to account for of all the undeveloped leases held by oil and gas companies in the Gulf.  I don’t know how the president expects companies to develop leases in the Gulf when they can’t even get permits to conduct exploratory activities.  Since new regulations went into place last year after the spill, only one new exploration plan has been approved by the BOEM – only one permit in 10 months. By contrast, in March 2010, the month before the Macondo accident, 48 exploratory plans were issued.  The president can’t hold companies accountable for development of leases when they simply can’t get permits to develop them.

Politico, “Bill Clinton: Drilling delays ‘ridiculous’“:

Bush said all the things you’d expect him to say” on oil and gas issues, said Jim Noe, senior vice president at Hercules Offshore and executive director of the pro-drilling Shallow Water Energy Security Coalition. But Clinton added, “You’d be surprised to know that I agree with all that,” according to Noe and others in the room.

Clinton said there are “ridiculous delays in permitting when our economy doesn’t need it,” according to Noe and others.

Rep. Fred Upton (R-MI), chairman of the House Committee on Energy and Commerce, “Upton Statement in Response to President Obama’s Remarks on Energy and Gasoline Prices“: Read More

House Votes Would Promote Energy Policy for U.S. Jobs, Competitiveness

By | Energy, Taxation | No Comments

The National Association of Manufacturers this afternoon sent a “Key Vote” letter to the U.S. House of Representatives calling for specific votes on three amendments to H.R. 1, the continuing resolution, that would promote a jobs- and growth-oriented energy policy. The premise:

Manufacturers support energy policies that: 1) expand domestic supplies; and 2) lower costs for U.S. consumers and for manufacturers, which use one-third of our nation’s energy. Access to competitively priced energy helps U.S. companies compete in the global economy and preserves high-paying jobs here at home.

The NAM urges a vote for two amendments:

  • OCS Exploration. Amendment 251 sponsored by Congressman Steve Scalise (R-LA-1) would prevent delays in approving plans/permits for energy exploration in the Outer Continental Shelf (OCS).The Department of Interior’s (DOI) permitting requirements have effectively brought drilling activities in the Gulf of Mexico to a halt, creating a de facto moratorium.
  • Coal Ash Regulations. Amendment 217 sponsored by Congressman David McKinley (R-WV-1) would prevent the Environmental Protection Agency (EPA) from moving forward with plans that would classify coal combustion residuals (CCRs) or coal ash as a hazardous waste under the Resource Conservation and Recovery Act (RCRA). Regulating coal ash as a hazardous waste will trigger an increase in disposal expenses for coal-fired power plants and other coal ash generators, likely resulting in higher energy costs for manufacturers.

The NAM urges a no vote on one amendment:

Punitive Taxes on U.S. Energy Producers. Amendment 213 sponsored by Congressman Ed Markey (D-MA-7) would impose roughly $50 billion in tax increases on major oil and gas companies by: repealing the Section 199 domestic manufacturing tax credit for these companies; prohibiting their use of last-in, first-out (LIFO) accounting methods; changing the tax treatment of dual capacity taxpayers; and more.

The NAM strongly opposes discriminatory tax policies, especially when they single out a particular type of business or industry sector. Tax increases on the oil and gas industry will lead to increased fuel costs for American manufacturers and consumers. Raising the price of fuel for manufacturers and the broader business community will further stifle their ability to expand and create jobs.

NAM “key votes” are used to determine a member of Congress’ record on manufacturing-related legislation.