Thursday, May 22, 2008

What's behind High Gas Prices?

Here's a response by John Hofmeister, CEO of Shell Oil to Congress yesterday:

"In the United States, access to our own oil and gas resources has
been limited for the last 30 years, prohibiting companies such as Shell from
exploring and developing resources for the benefit of the American people. It is
not a free market. According to the Department of the Interior, 62% of all
on-shore federal lands are off limits to oil and gas developments, with
restrictions applying to 92% of all federal lands. The Argonne National
Laboratory did a report in 2004 that identified 40 specific federal policy areas
that halt, limit, delay, or restrict natural gas projects. The problem of access
can be solved in this country by the same government that has prohibited it.
Congress could have chose to lift some or all of the current restrictions on
exploration and production of oil and gas. Congress could provide national
policy to reverse the persistent decline of domestically secure natural resource

But Washington would tell us its our "obsession" with oil. And because Congress refuses to allow opening up new oil fields, we are forced to defend the terrorist breeding grounds of the Middle East from radicals who wish to stop the flow. In other words, no dependence on foreign oil, no reason for us to fight in the Middle East!

H/T to Blogs for Victory