Recent Blog Posts
-
Cybersecurity Czar Steps Down
May 17 20122:41 pm EDT -
House Passes Controversial Cybersecurity Bill With Surprise Vote
Apr 27 201212:09 pm EDT -
Generation Startup Gets SBA Encouragement
Apr 24 20125:25 pm EDT -
Google Spends Big in Washington
Apr 24 201212:30 pm EDT -
Young Entrepreneurs Call for More Congressional Encouragement
Apr 18 20124:06 pm EDT -
A Nation Divided on Taxes
Apr 16 201211:37 am EDT -
Are Intellectual Property and National Security Really Linked?
Apr 13 20124:40 pm EDT -
Netflix Starts PAC
Apr 09 20122:27 pm EDT -
JOBS Act Changes Game for Startups
Apr 05 20124:39 pm EDT -
Investors (and Liberals) Beware! Here Comes JOBS Act
Apr 04 201210:06 am EDT
Links
- Tapped: The American Prospect

- Marc Ambinder

- National Review

- KausFiles

- firedoglake

- The Politico

- The Daily Dish

- Blogging Heads

- Swampland

- Freakonomics

- Atrios

- Daily Kos

- Real Clear Politics

- The Political Animal

- Power Line

- Instapundit

- Matthew Yglesias

- Drudge Report

- Talking Points Memo

- Huffington Post

- Red State.org

Obama, the Oil Man
“All of the above” is a phrase Republicans use to sum up their energy policy. That phrase now more accurately describes President Barack Obama’s approach. Republicans give lip service to renewable energy and they love nuclear power, but they lust for oil. “Drill, baby, drill,” was the most memorable chant at the 2008 Republican National Convention.
Obama, on the other hand, really does believe in an “all of the above” strategy toward meeting the nation’s energy needs. Today he disappointed environmentalists by opening more offshore areas to oil and gas production, including the eastern Gulf of Mexico. Other large stretches of the Atlantic and Arctic Oceans also would be opened to oil and gas exploration. “Given our energy needs, in order to sustain economic growth, produce jobs, and keep our businesses competitive, we’re going to need to harness traditional sources of fuel even as we ramp up production of new sources of renewable, homegrown energy,” Obama said.
Those words pleased the business community, which has been pushing for more domestic oil and natural-gas production. “This decision is an important first step towards greater energy security for our nation,” said Michael Morris, president and CEO of American Electric Power and chair of the Business Roundtable’s Sustainable Growth Initiative. “Oil and natural gas will continue to play a critical role in meeting our nation’s energy needs as we move towards a more sustainable future,” Morris said.
Even a fierce critic of the president, House Minority Whip Eric Cantor, had some nice things to say about him today, thanks to Obama’s plans to move forward with oil and gas leases off the coast of Virginia. “I am encouraged that the administration has endorsed offshore energy exploration off our coast, which will not only help put Virginians back to work, but bring needed revenue to our state,” Cantor said.
The decision to support oil exploration in the eastern Gulf of Mexico upset some Floridians, but Senator Bill Nelson seemed satisfied with the administration’s plan to keep oil wells at least 125 miles away from the state’s coast. Nelson said he told administration officials that “if they drilled too close to Florida’s beaches, they’d be risking the state’s economy and environment. I believe this plan shows they heeded that concern.” Plus, Congress would have to lift its moratorium on oil production in the eastern Gulf before any drilling could occur there.
Some environmentalists, however, think expanded offshore oil production is a step backward, just like Obama’s efforts to encourage construction of new nuclear power plants. “Opening our coastlines for additional offshore drilling will continue the failed energy policies of the past and do nothing to create the new clean-energy jobs of the future,” said Gene Karpinski, president of the League of Conservation Voters. The administration’s overall energy policy, however, is the most serious effort ever undertaken to wean the U.S. off of fossil fuels.
The economic-stimulus bill, for example, “made the largest investment in clean energy in our nation’s history,” Obama said. Just today, the Department of Energy announced it would use $18 million in stimulus money to build an advanced biofuels process development facility at its Lawrence Berkeley National Laboratory. Tomorrow, the administration will announce higher fuel economy standards for cars and trucks.
The most potent symbol of the federal government’s commitment to clean energy, however, sat behind the president as he made today’s speech. It was a Navy fighter jet, called the Green Hornet, that’s getting ready for its maiden flight. It will be the first airplane to ever break the sound barrier with a fuel mix that’s half biomass, Obama said. In 10 years, the Navy wants alternative energy sources to make up 50 percent of its fuel in all of its planes, ships, and vehicles. “The Pentagon isn’t seeking these alternative fuels just to protect our environment; they are pursuing these homegrown energy sources to protect our national security,” Obama said.
Kent Hoover is the Washington bureau chief for bizjournals.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.





