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Aside from a few spikes over the past 40 years, the price of a barrel of oil has remained in line with the price of an ounce of gold, at a ratio of 15-1.
As for the recent release of some oil from the National Petroleum Reserve, it did have the effect of undercutting some speculators. However, the greatest effect was to bring several billion dollars to the Treasury. All purchases were at least $104.98 per barrel, well above market.
The U.S. Chamber’s Institute for 21st Century Energy recently unveiled a plan designed to offer realistic, bipartisan solutions to our nation’s top energy challenges.
The five-part plan was formulated after Energy Institute officials returned from its Energy Reality Tour, a nationwide dialogue with thousands of state and local chambers, businesses, and community leaders, and local media on a variety of energy issues.
Below are the five priorities, as listed in the Institute's "Plan to Fuel Our Recovery":
-Maximize America’s Own Energy Resources – America can make better use of its own abundant energy resources by promoting energy efficiency, producing more domestic energy, improving access to federal lands, and allowing for development of new resources.
-Make New and Clean Energy Technologies More Affordable – To help lessen the costs that impede the use of new and cleaner energy, the Energy Institute proposes committing to innovation and demonstration of new technologies and providing financial mechanisms through a self-funding Clean Energy Bank.
-Eliminate Regulatory Barriers Derailing Energy Projects – Remove unnecessary barriers by creating a predictable regulatory environment, streamlining—not weakening—environmental reviews, and prioritizing siting and permitting of interstate transmission.
-Do Not Put America’s Existing Energy Sources Out of Business – Ensure that the Clean Air Act and Clean Water Act are not used indiscriminately to threaten adequate supplies of energy for a smooth transition to a cleaner energy future.
-Encourage Free and Fair Trade of Energy Resources and Technologies Globally – Become more globally integrated by promoting free trade, eliminating trade barriers, and ending discriminatory content and trade policies.
Do you believe these priorities are what we need reset the direction of country's energy policy, and help drive our country towards ecoonomic health?
I find it extremely troubling that the Chamber of Commerce seems to believe in the false premise of anthropogenic global warming/climate change, or whatever it is they wish to call it today. It is especially worrisome when a supposedly conservative organisation goes along with what we know is probably the largest fraud in history. Yet somehow they see a reason to give it credence and think that steps should be made to address this 'problem'. There is no definitive evidence to support any such claims that our planet is warming, in fact, there has been no significant warming for at least the past several years. The unfortunate part is that they want to say that science has everything to do with consensus, but real science is not based off of consensus, and not on some bizarre theory put forth to stifle economic growth. I would suggest that the Chamber of Commerce take heed of these facts instead of taking a politically safe position of moderation.
March 23rd at 9:29am in Facing Our Energy Realities
CO2 is not a pollutant and is not causing global warming (the data really does not demonstrate this - just run a regression analysis and you will see). We need to stop this nonsense and develop our energy resources so we establish energy independence with renewable energy sources which include Coal and fossil fuels. What we really need to control are the byproducts of fossil fuel combustion such as SO4, NO3 and the heavy metals such as Hg. Our main concern should be carbon monoxide not CO2. H2 would be the best energy source to exploit at this time. This is what our discussion should be centered upon - which is the best energy source to set up in the short term realizing what is are the hazardous by products of its use!
March 11th at 11:23am in Facing Our Energy Realities
We need to unleash our nation's natural resources. But, this utilization must be accompanied by education. American's are taught by government proponents that businesses are inherently greedy and squander resources. This is a false characterization that needs to be corrected through social media, public presentations and an all out effort to inform citizens. America is exceptional because of free choice, opportunity and prosperity; not healthcare, Wall Street Reform and social justice.
If you don't believe that most of the large corp. of this country aren't greedy then tell me why were paying almost $4.00 a gal for gas, when their making PROFITS in the Billions. Think about it there is not a shortage of oil, or gas, there's not a heighten demand for these products, so why is the price so high. Our economy is driven by gas, so if it takes $50 to $100 to full up for work a hard decision must be made concerning which bills will be paid on time. If you think about we have not seen an increase fuel production which means that there is not an increase in demand. So why are we asking the government to increase any companies control over our economy? Have we become blind to the facts? Our economy don't start to slow down until the price of fuel increased too $2+ per gallon. Can you name one job, (besides Lobbyist) that has been created by the oil companies since they raised the price of their products? They have even gone so far as to cheapen their products by adding 10% ethanol which decreases the MPG of a car. It would be odd if it was just one or two companies but it is the same story across the board, every company, and that’s only the oil companies. We haven't even touched the credit card companies charging 29% & 35% interest rates. If our government doesn't protect us from corporate greed who will? So this is what we should be asking, are any of these companies doing what's best for our economy or what’s best for companies profits?
May 5th at 2:40pm in Resources Access and Education
The fastest way out of the economic mess would be to enact a comprehensive energy policy including new refineries, drilling in Alaska and North Dakota which I understand has a new discovery of great value. The sooner we enact a plan, the faster the prices will come down.
I am convinced the $4.00 per gallon several years ago, brought on the economic mess as much as any other event including housing.
Why would you stop developing petroleum resources before all the "alternative fuels" are in place?
I agree we have needed for years to do something with no action. We need to get with it and
do are own thing. If a war were to break out in the east what would we do?/
But there is no excuse for the current cost. The price should be $85 no $105
Oil industry is lucky Reagan was not in the White House. There would be a excess profits tax in place asop. Time all get back to Capitalism and good business practices in lieu of political fights and children action. Enough is enough.
An us old gents fought for our country so this could happen?. Shame on all.
Homer the old vet
March 9th at 7:02pm in Energy and the environment
If the president and congress really wanted to solve the price and supply of oil problems for America and it's citizens, as well as putting Americans back to work, they would take actions to become independent from foreign sources for our oil by: Drilling On-Shore NOW, in ANWR, building new refineries & nuclear power plants, giving the job of producing clean hydrogen power cars & trucks to American oil and automobile companies with a phase in over the next 10 to 15 years. We need oil for much more than just energy (plastics, tires, antifreeze, etc.) and we will need oil for a long time...get used to it.
This would put petroleum workers, managers and engineers to work quickly, and these Americans would begin buying homes, cloths, food, cars, etc. and put more Americans to work as a result of these new consumer demands. The economy would begin growing and our national debt reducing.
We can still help the environmental actions needed with today's technologies! By the way, hydrogen for energy has unlimited supply and zero pollutants emmitted.
March 8th at 11:38am in Energy and the environment
"NEVER LET A CRISIS GO TO WASTE". I do not want to be looked upon a conspiracy theorist, but since 12 countries wanted to send in help, and it was refuse, SAYS VOLUMES!!!.
with this no drilling for oil in the Gulf, are we going to wait until all the other countries have depleted the oil in the Gulf????
While reading in a periodical it stated that on of the Scandinavian Countries horizontally drilled 40 miles from shore for carbon sequestering. ARE WE GOING TO SAY IF THIS INTELLECTUALLY MYOPIC PRESIDENT DOES NOT CHANGE HIS POLICY FOR DRILLING; WHERE HAS ALL THE OIL GONE????
March 8th at 7:53am in Energy and the environment
The EPA was developed to find ways to decrease our dependancy on foreign oil, the one thing the EPA hasn't done. Environmentalists don't realize, or don't want to, that if we opened up oil reserves "on-land" we wouldn't have the occasional disasters from off-shore drilling. Why do we have to go so far off-shore to drill for oil?
In WV, the EPA has stopped "permitted" MTR (Mountain Top Removal) of coal mines, which is good because all these corporations leave behind are lunar landscapes BUT, China and Russia have retained their mining permits in WV. Why?
The USA would, once again, be the epitomy of the economic world if we would take advantage of our own resources.
As for alternative fuels; people don't realize the disadvantages of ethenol, which is both economically and environmentally unsound.
January 18th at 6:20pm in Energy and the environment
The fastest way out of the economic mess would be to enact a comprehensive energy policy including new refineries, drilling in Alaska and North Dakota which I understand has a new discovery of great value. The sooner we enact a plan, the faster the prices will come down.
I am convinced the $4.00 per gallon several years ago, brought on the economic mess as much as any other event including housing.
Why would you stop developing petroleum resources before all the "alternative fuels" are in place?
It can be looked at as a fact that higher fuel prices effects much of the economy,there is no reason for gas to be four dollars per gallon short of greed. The high fuel prices hurt the economy and regulating prices must be looked at . As far as shipping goods is concerned more should be shipped via rail and less long distance via truck.
January 20th at 3:19pm in Energy and the environment
Our energy policy needs to invest in a comprehensive suite of new energy technologies and expand access to traditional sources to simultaneously advance America's environmental, economic and energy security interests. The current moratorium on drilling is the exact opposite of what’s needed. It’s doing nothing more that stopping jobs and growth in the gulf coast.
What are your thoughts on current environmental policy?
There is only one way to stop Obama's EPA and that is to defund it and turn its responsibilities back to the states where it should be. Don't hold your breath about this ever happening. House GOP leaders do not have the guts to do it and it will never get by the Senate.
February 8th at 11:22am in Current Environmental Policy
The Interior Department lifted the moratorium in mid-October. Yet because drilling permits have been issued at a far slower pace than before the disaster and there is still a defacto ban that still exists and is harming the livelihood and economy of the Gulf Coast and its residents.
In addition, the administration announced that the Eastern Gulf of Mexico, Atlantic, and Pacific coasts will be excluded from the upcoming Five Year offshore exploration, basically sending a message to America’s oil and gas industry: take your capital, technology and jobs somewhere else.
It is ironic that the administration is willing to forgo a significant new stream of revenue at a time when leaders on both sides of the aisle are seeking ways to address our rapidly ballooning deficit.
January 12th at 1:55pm in Current Environmental Policy
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