Bashing Oil Companies

Gary Bauer: Congress "huffed and puffed" yesterday, April fools day no less, in a hearing called to bash the executives of U.S. energy companies. Desperately looking for someone with lower approval ratings than themselves, congressional Democrats spent several hours railing against "Big Oil." But alas, at the gas station this morning, there was no change in the price of a gallon of gas. Why? Because gas prices aren't "set" by Exxon or Shell, no matter how much virtually all liberals believe they are. And no matter how much hot air comes out of Ted Kennedy, high prices are likely to continue to put a hit on family budgets.

Here are some of the reasons we won't see significantly lower prices anytime soon. First, billions of people in India, China and elsewhere are entering the economic mainstream. As their incomes rise, they want what you and I want --T.V.'s, air-conditioners, microwaves, automobiles and more food. These demands put upward pressure on all energy prices.

Second, the same liberal Democrat politicians who are pointing fingers at U.S. oil companies have systematically restricted access to U.S. energy supplies. Oil companies have been blocked from drilling in parts of Alaska, significant parts of the Outer Continental Shelf and elsewhere. And it isn't just oil. We haven't built new nuclear power plants or refineries in decades because of environmental pressure. Coal, which America has an abundance of, is under attack by Al Gore and his friends. So far, only natural gas has escaped the energy bashing. So, of course, prices are going up as demand increases and as liberal policies stifle supply.

Third, a big part of the cost of gas is the cost of Big Government. The federal gas tax plus the average state gas tax costs consumers nearly fifty cents per gallon. Residents of California, Connecticut and New York are paying sixty cents or more. Perhaps we should have an investigation of Big Government, too!

The result is that more and more of our oil comes from very unpleasant, hostile places in the world - the Middle East, Venezuela, Russia, etc. Governments, including our own, are stockpiling oil for fear that a future war or terrorist attack could severely restrict supplies. Put it all together, and it translates into the ugly prices you see at the pump.

The truth is that if we didn't have companies like Exxon discovering oil and bringing refined gasoline to us, we would be paying a lot more. And no liberal politician I am aware of has ever discovered oil or fueled anything, except perhaps his or her own ambition. There is one way guaranteed to get prices down fast - a deep U.S. or global recession. People without jobs to go to certainly use less gasoline. And if Democrats in Congress follow-up on their threats to raise taxes and continue to bash the capitalist system that has given our country great wealth, a deep recession may be exactly what we get. And when that happens, I doubt any of us will be applauding the lower prices at the pump.

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Tags: big government, foreign oil, Gary Bauer, gas prices, gas tax, liberals, oil companies To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!