Make no mistkae about it, John McCain wants to drill. And now, even Obama is open to "compromise" on this issue, despite the ecological pitfalls. Americans must make a critical decision, save a few extra gas dollars now, or face ...

(cross-posted on OpenLeft)

We're all tired of capitulation. We all think offshore drilling is pretty darn evil. But are we willing to give up a crack at something we need for the hubris of those reasons?

Let's talk about the New Energy Reform Act of 2008. If you haven't been paying attention, that's the name of the proposed energy bill sponsored by the "Group of 10" Senators in order to address all those concerns everyone has about energy. There are certainly a good bushel of bad apple policies in the bill, but some pretty awesome oranges in there too that might make the bill worthwhile. Let's take a look at both, plus some context, in the extended entry.

First it was Speaker Pelosi:

Reversing course, House Speaker Nancy Pelosi is planning energy legislation that may allow oil and gas drilling in new areas off the U. S. coast, according to a House Democratic leadership aide.

Now it's Mark Udall:

If any doubt remained that the debate over energy has shifted in Republicans’ favor, Rep. Mark Udall (D-Colo.) ended it this week.

Udall, one of the House’s preeminent environmentalists and the Democratic nominee in a closely contested Colorado Senate race, came out in favor of a bipartisan, comprehensive energy plan that would permit additional offshore drilling — a striking departure from his past opposition to such measures.

And it's probably not just Udall. To tell you the truth, I didn't even look to see who else might be doing the same thing. Because even if it is just Udall for the moment, it won't be just Udall for long.

Why not? What's behind the opening of the floodgates?

Meteor Blades told you last week:

Republicans have an ace up their sleeve. The ban on additional off-shore leases must be renewed each year by September 30. The extension is attached as a rider to the annual appropriations bill. Senator DeMint says 36 of the 49 Republican senators have signed a letter to Senate leaders opposing a renewal of the ban. Texas Rep. Jeb Hensarling is said to have gotten 136 House Republicans to sign a similar letter.

CongressDaily [now linkable] reports:

"Many people aren't aware that these bans on drilling must be renewed every year, and that all we have to do is to allow these prohibitions to expire on Oct. 1," DeMint said in a statement released Tuesday.

"In just 50 days, Americans will have the freedom to pursue their own energy resources here at home," he added. DeMint argued that it was "irrational to say 'no' to American energy" because it was needed to reduce independence on foreign oil and bring down gas prices.

That's the game, right there. The floodgates will open because they have to open. There's no way on God's green earth to find veto-proof majorities to re-up that ban, and no bill George W. Bush won't veto to stop it. Not a defense bill. Not a continuing resolution to keep the government running. Not a National Motherhood and Apple Pie Day bill. Nothing.

So it's either flip now and do what you can to save face, or stick it out to the bitter end and lose.

We know how these things go, by now.

I think we could inject another meme into the offshore drilling debate. And it just happens to be a conservative talking point that we could co-opt.

It seems like Republican House members have decided that they'll have a better chance at reelection if they don't remind voters back home of their existence. We've seen it during this August recess while they flocked to the floor to play at being Congressmembers over drilling instead of hanging out in their districts having to deal with real constituents and real issues.

Now they've announced that they want to stay in DC all fall if that's what it will take to get a drilling bill through.

House Republicans said Monday they would refuse to consider any energy bill that came straight to the floor from the Democratic leadership’s offices, rather than working its way through committee markups — a process that can take weeks or months.

Granted, there's safety in numbers, and they like each other better than anybody else--particularly their constituents -- like them. But this would suggest they really are afraid of voters.

It also suggests that any need to find "compromise" with them on the part of House Democratic leadership is bullshit.

Earlier this year, Arnold Schwarzenegger decided to throw his muscle behind John McCain, citing the Senator's record of bipartisanship, as well as his alleged efforts to halt global warming. The former Mr. Olympia, in his appeal to voters, recruited his own ass to deliver the message of support. According to the LA times:

Great news out of California, Pacific Gas and Electric recently agreed to purchase power from new 800 MW PV soalr installation..

Sound great, but there is a twist in the tale that is not just an issue for this project, but for practically every large scale wind and solar renewable project out there.  A almost throwaway at the end of the article reveals all:

PG&E has said the deals are contingent on Congress reauthorizing several tax credits for renewable energy that are due to expire at the end of this year. Although there is broad bipartisan support for the credits, their renewal has been caught up in the debate over other controversial issues like offshore oil drilling and how to pay for the tax credits.

"This is contingent on the (renewable-energy tax credits) being reinstated," Borenstein said. "If Congress screws up and lets that lapse, this could be put on a shelf."

On the offshore drilling moratoriam:

"As far as I'm concerned, those bans end Sept. 30. And if they end on Sept. 30, fuel prices will head back down on Oct. 1," he said.
House Minority Whip Roy Blunt, R-Mo.

The absurdity continues as politicians from both sides of the tracks scramble to position on the Drilling issue.  

Democrats appear to need another pair of the always helpful "oops I crapped my pants" adult diapers as they bend like a reed in the wind on this base invigorating issue, while the GOP continues with their magical political logic.

Here's a question I would like to pose to every member of Congress who supports offshore oil drilling:

President Bush said in his 2006 State of the Union that America is addicted to oil. If you agree, how would offshore drilling cure (not treat but CURE) this addiction? If you disagree, how would you describe our reliance on imported oil?

Many times I do not need to look at the substance of an agreement to see that it is a good way to bring a piece of legislation together, I only need to look at who is for and who is against the compromise.

The Gang of 10 bi-partisan compromise for a comprehensive energy bill is far from perfect but it is a great framework to move forward with for a lot of reasons both politically and policy based.

While there is big money in fossil fuels, it is also money which will be the downfall of the industry - if only Dems explain.

Risk demands return. As investors absorb greater risks of oil/gas projects, they demand ever increasing returns on investment. As the increased risk-return raises energy prices, economies will struggle. As it is unlikely that the geopolitics of the energy regions will stabilize soon, the models will show wildly fluctuating prices = more investment risk.  

The glue that has held together expensive oil and gas projects has always been increasing demand.  Take demand away, and the investment goes away.

Demand could be decreased if politics would create a strong push for conservation and alternative energy.  To be effective, this program need not bring about a total replacement of fossil fuels, rather it only needs to threaten demand.

With both supply & demand unstable, investment in fossil fuels would be unattractive & development would turn back to Western economic initiatives in alternatives and conservation.  As such, Obama needs to redefine: Moving away from fossil fuels is more than an environmental alternative, it is also an alternative for investment, economic growth, & foreign policy. Fossils keep Russia in charge, alt's help America.

How many economists does it take to establish that 2+2=4?

Suppose a bunch of economists sent a letter to the Congressional leadership noting the objective facts that lifting the ban on offshore drilling will do zero about gas prices for many years, and that even after new oil is extracted, the effect on gas prices, according the US government energy experts who are officially charged to evaluate such questions, would be too small to even notice.

Would it have any effect on the national debate, brought to us by our know-nothing Republican party and know-nothing corporate media, over whether 2+2=4?

Below the fold, the economists' letter.

Drill, drill, drill demand the Republicans, but without a clue as to whether it makes sense to do so or not.

What the hell is wrong with Republicans?  House Speaker Nancy Pelosi echos Obama's position on offshore drilling (i.e. limited  drilling might be prudent if it is coupled with a comprehensive look at our energy situation) and Congressional Repugs act like they won.  Nevermind that her caveats were so strong that if the bill were presented Republican Reps would never vote on it, the fact that their demands were met by Mrs. Pelosi with a resounding "maybe, if..." was cause for much chest puffing on the part of the know-nothing Republican leadership.

The announcement this morning that Russia will halt its military operations in Georgia will almost certainly be followed by another.  No doubt, the McCain campaign and its conservative amen corner will claim that John McCain's tough talk is responsible for it.  As with the July release of Colombian hostages and the recent dip in oil prices, Team McCain will claim the credit.

On the day when journalism in the United States is held accountable to some minimum standards of competency, like medicine and the law, it might not be necessary to go to extreme lengths to defend important and obvious objective truths which are today treated by the corporate media as matters of subjective opinion, like the fact that lifting the Congressional ban on most offshore drilling won't do squat about gas prices, now or in the future. Or that cutting a deal with Iran that lifts US sanctions on that country would do more, and do it quicker.

Since we have not yet lived to see that happy day, a hot babe, evoking Paris Hilton, makes the case:

One of the hallmarks and harms of the Bush Administration has been to eliminate or weaken our most bedrock laws.  NEPA, or the National Environmental Policy Act is one that has been attacked on a number of fronts, usually in relation to forests and BLM land, so that Corporate interests won't have to fuss with Environmental Assessments or Impact Statements.
And SYFP. Can't have the Rabble whining over the Commons to the detriment of profit! Slash that comment period until there is no chance that there will be time to find out about anything, much less write a "substantive comment".

They're at it again, this time, it's the Oceans.  The lie is out there, via Faux News that over 70% of  'murkins want them to drill offshore. While no one is looking, they're trying to make it as easy as possible. Full speed ahead, and damn the spills............

Paul Krugman, writing in Friday’s New York Times, crafts a cautionary tale about the current political landscape.

[T]he debate on energy policy has helped me find the words for something I’ve been thinking about for a while. Republicans, once hailed as the “party of ideas,” have become the party of stupid.

Now, I don’t mean that G.O.P. politicians are, on average, any dumber than their Democratic counterparts. And I certainly don’t mean to question the often frightening smarts of Republican political operatives.

What I mean, instead, is that know-nothingism — the insistence that there are simple, brute-force, instant-gratification answers to every problem, and that there’s something effeminate and weak about anyone who suggests otherwise — has become the core of Republican policy and political strategy. The party’s de facto slogan has become: “Real men don’t think things through.”