American Thinker recounts the latest moves in Congress with respect to drilling for new oil resources.
After reporting yesterday on Nancy Pelosi's desire to develop a comprehensive energy bill instead of an up or down vote on lifting off shore drilling restrictions, the GOP immediately saw through her transparent attempt to make the bill so poisonous some in her own party could never vote for it and have rejected the idea outright.Cute. it appears the Democrats are not serious about gaining new sources of marketable oil.
What do the Republicans want?
Republicans lambasted House Speaker Nancy Pelosi’s (D-Calif.) energy plan Saturday advising her to “get out of the way” if she was not going to accept GOP solutions to the energy crisis.And how about them Russians? Wretchard looks at Russia's energy plan.
In her Saturday radio address Pelosi announced that Democrats would consider opening up parts of the outer continental shelf for drilling as a part of a broad new energy plan that will be unveiled in the coming weeks.
Republicans soundly rejected Pelosi’s proposal – indicating it was too little too late.
“Madame Speaker, we ask you to work with us to help Americans feeling pain at the pump by developing more American energy,” said Republican Study Committee Chairman Jeb Hensarling (R-Texas). “If you refuse, we simply ask you get out of the way and allow us to help the people that sent us here.They understand how flawed and out of touch your caucus is on energy issues, and so do we.”
Republican Conference Chairman Adam Putnam (R-Fla.) added, ““There is no better, more qualified spokesperson for the Democratic Party’s failed energy policies than Speaker Nancy Pelosi.”
Most of Russia’s current power and influence comes from its production and control of energy. According to the DOE, “Russia’s economic growth over the past seven years has been driven primarily by energy exports, given the increase in Russian oil production and relatively high world oil prices during the period.”So natural gas is not only a money maker for Russia. It is also a knife at the throat of Europe. However, it seems as if some one in Europe has grown a pair. And who would that be? A woman. German Chancellor Angela Merkel.
“Russia’s economy is heavily dependent on oil and natural gas exports. In order to manage windfall oil receipts, the government established a stabilization fund in 2004. By the end of 2007, the fund was expected to be worth $158 billion, or about 12 percent of the country’s nominal GDP. According to calculations by Alfa Bank, the fuel sector accounts for about 20.5 percent of GDP, down from around 22 percent in 2000. According to IMF and World Bank estimates, the oil and gas sector generated more than 60 percent of Russia’s export revenues (64% in 2007), and accounted for 30 percent of all foreign direct investment (FDI) in the country.”
Russia’s major market for natural gas is Europe.
Mikheil Saakashvili, the Georgian president, said "there is no such notion anymore in Georgia as Russian peacekeepers".You know I think the correlation of forces is changing. I believe a lot of this is due to Russia overplaying its hand in Georgia.
"There can be no Russian peacekeepers, these are just Russian forces."
Saakashvili was speaking at a news conference in Tbilisi with Angela Merkel, the German chancellor, at which Merkel gave her support to Georgia's bid to join Nato, an ambition that is strongly opposed by Russia.
"Georgia will become a member of Nato if it wants to - and it does want to," Merkel said.
And in other news Ukraine has announced that it will make its Russian missile shield data available to the West.
KIEV -- Ukraine said Saturday that it was ready to make its missile-warning systems available for Western countries after Russia announced that it was pulling out of a long-term cooperation agreement involving them.And not just the missile shield. The Ukraine wants to close the Black Sea to the Russian Fleet. That has got to hurt.
A ministry statement said Russia's abrogation earlier this year of an agreement involving two tracking stations allowed Ukraine to cooperate with other countries on missile-warning systems and satellite tracking.
Ukrainian President Viktor Yushchenko issued a decree last week putting an end to Ukraine's participation in the accord in view of Russia's own abrogation of the deal.
A top Ukrainian security official, meanwhile, on Saturday discounted any notion of a separatist rebellion in Crimea as President Viktor Yushchenko proposed Kremlin talks on the issue of the Russian fleet based there.
Yushchenko enraged Moscow this week by ordering restrictions on the movement of ships in the Black Sea Fleet, based in the Crimean port of Sevastopol. Russia's military vowed to ignore the rules, saying the fleet answered only to Russia's president.
It looks like the firm stand of the US and the former Soviet Republics has stiffened the resolve of Germany and NATO. And who would understand how the lack of resolve on the part of its opponents could lead to a larger war than Germany? Evidently they still study the moves of the Austrian Corporal there. It is too bad France could not redeem its honor by announcing the welcoming of Georgia into NATO. However, what better way to finally rehabilitate Germany than giving them the honor?
And the Democrats? I wonder how many will survive the November election? Evidently they never took to heart the contradiction: No Blood For Oil or No Drilling For Oil? They haven't yet figured which policy to pursue. The Republicans have figured it out. Thank the Maker. And Bush? I think he will be remembered for a long time as the protector of liberty and self government in the former Soviet Republics.
Cross Posted at Classical Values