comMITTed to Romney!

Word came early this morning about the resignation of “Green” jobs czar, Van Jones.

Chalk up another Obama appointee getting thrown under the bus. As one wag said this morning, “Sure hope it’s a “green” bus.

~~John Cronin~~

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Excellent article by Arthur Laffer on why Obama’s stated intention to try to reconfigure the country’s massively complicated and inter-related energy structures will only succeed in seeing taxes sky rocket and energy production plummet. If that’s not a prescription for a new Depression in America, I don’t know what is.

~~John Cronin~~

http://online.wsj.com/article/SB122956305965116735.html

The only way to get there is job-killing taxes.

By ARTHUR B. LAFFER
This week in Chicago, President-elect Barack Obama introduced key members of his new energy and environmental team and gave a statement expressing his administration’s ambitious goal to make America energy independent. While his desire to do so is sincere, such a strategy would be disastrous for our economy.

The platitude of “energy independence” makes zero economic sense. Yes, it’s true that many nations that supply us with oil are run by anti-American governments. But unfortunately embargoes don’t overturn despotic regimes. More often than not they harden them, as in Zimbabwe, North Korea and Cuba. Since the U.S. is so reliant on oil, embargoes will hurt the U.S. as much, if not more, than the countries of OPEC. The issue of how to handle the anti-American nature of oil-exporting nations is not for the Commerce Department, but for the White House, the State Department and perhaps the Department of Defense.

The U.S. currently imports some 60% of the oil we use. To imagine an energy-independent U.S. today is to envision gas at $20 or more per gallon and a true depression. President Dwight D. Eisenhower tried oil import tariffs in the 1950s, as has every president since. Yet never before has America’s reliance on foreign oil been greater than it is now.

While energy independence for the U.S. would enormously increase the price of oil at home, it would have the exact opposite effect in the rest of the world. Cheap oil for countries like China would surely not benefit the U.S. or the world’s environment. Businesses that use oil would move offshore, costing American jobs while still polluting the world’s environment. Artificial energy independence is neither a good foreign policy nor a good domestic economic policy

Mr. Obama’s team is also prejudiced against offshore drilling and nuclear power. Goodness knows no one wants oil splattered all over our beaches, but if we don’t drill offshore, Indonesia will. Surely our safeguards are better than Indonesia’s. Any trade-off of Indonesian offshore drilling with U.S. offshore drilling is a no-brainer. Offshore drilling would also further the goal of decreasing U.S. reliance on oil from hostile nations without losing the beneficial gains from trade.

Pursuing nuclear power is another important option if we aim to reduce our carbon footprint and reliance on oil from hostile nations. Currently the U.S. is way behind the curve. Given the vast proliferation of nuclear power world-wide, its cleanliness, its efficiency, and its low cost, surely nuclear should not be “off-the-table” as the Obama team contends.

The Obama team’s chatter about creating jobs in alternative renewable energies is hollow to say the least. Here’s why: Any serious attempt to reduce carbon emissions must ultimately rely on a very large tax on the use of fossil fuels. And a very large tax on fossil fuels as an add-on to the taxes we already pay would drive the economy deeper into the ground — with or without alternative renewable energy jobs.

The only real solution is Al Gore’s proposal to offset a carbon tax dollar-for-dollar with either an income or payroll tax reduction. If a carbon tax increase were offset dollar-for-dollar with an income tax rate cut, I for one would strongly support the policy. The economy would benefit because the progressive income tax does far more damage than a carbon tax would, and we’d use less oil. It’s a win-win situation. Yet this perspective appears to be totally outside the Obama team’s ken.

It’s telling that Mr. Obama and his appointees kept pointing to the successes achieved by California as examples of what should be done on a national level. Whenever California’s current policies — full of taxes and regulations that are crippling its economy — are held up as a model, you know the speaker has a lot to learn.

Mr. Laffer is the chairman of Laffer Associates and co-author of “The End of Prosperity: How Higher Taxes Will Doom the Economy — If We Let It Happen” (Threshold, 2008).

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Nancy Pelosi, who symbolizes much of what is wrong with the Democratic Party, has caved on her draconian opposition to offshore drilling, which in recent weeks she called a “hoax”. The hoax has morphed into reality as Ms. Pelosi evidently sat down at her desk and started counting votes (something she has not always done in the past) and finally realized that her position was a loser for her and her Party. Welcome back to reality, Madam Speaker.

~~John Cronin~~

http://apnews.myway.com/article/20080816/D92JM7NG2.html

By DINA CAPPIELLO

WASHINGTON (AP) - Democrats’ stance against offshore drilling has shifted more, with House Speaker Nancy Pelosi signaling on Saturday her willingness to consider opening up more coastal areas to oil and gas exploration.
In her party’s weekly radio address, Pelosi said opening portions of the Outer Continental Shelf for drilling would be a part of energy legislation that House Democrats intend to put forward in the coming weeks to address oil dependence and high gasoline prices.
Lawmakers will be able to “consider opening portions of the Outer Continental Shelf for drilling, with appropriate safeguards, and without taxpayer subsidies to Big Oil,” said Pelosi, D-Calif.
Just weeks ago Pelosi seemed resolved to block any votes to allow offshore drilling, in part because Californians have opposed drilling off their coasts since an oil spill off Santa Barbara in 1969. New oil drilling is only allowed now in federal waters in the western Gulf of Mexico and off Alaska.

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Are we seeing the beginning of the end for liberal hopes to recapture power after eight years in the political wilderness? The wrong headed energy policies of the Dems have now become symbolized by the humble tire air gauge. It has been said that a politician can survive anything except for becoming a laughing stock. Obama’s recommendation to check our tire’s inflation and to get a tune-up as his prescription for high gasoline prices has now been torn to shreds by every credible source on the subject.

Car maintenance experts are pointing out that, starting in 1985 and especially by 1996, cars DON’T GET TUNE-UPS ANYMORE. Sen. Obama doesn’t know this and he wants to lead 300,000,000 Americans, command the most powerful military in the world and set policies for a $15 trillion economy??

Another ditzy Democrat, Nancy Pelosi, was asked what Congress might be able to do to get a vote on domestic drilling before year’s end and she said politicians should “Use their imaginations.”

Upwards of 75% of the voters are in favor of domestic drilling and yet the Dems will not allow a vote on the issue. A little over a year ago, politicians got on the wrong side of 75% and that was on the issue of illegal immigration. We see how well that worked out for them. McCain pulled a 180 degree change of direction, the fence is being built, 1.3 million illegals have left the country, Chris Cannon has been swept out of office and the rest of the open borders crowd is hiding under their desks.

~~John Cronin~~

http://www.ibdeditorials.com/IBDArticles.aspx?id=302740186673857

By LAWRENCE KUDLOW

As John McCain and the GOP leaders nationalize the drill, drill, drill message, the Republican Party might conceivably be riding a summer political rally.

The question of offshore drilling, along with expanded domestic energy production, has suddenly become the biggest political and economic wedge issue of this election. Is there a Republican tsunami in the making?

According to the major polls, Sen. McCain has overcome a big deficit to pull even with Obama. Meanwhile, according to a Rasmussen survey, Democratic Party identification has slumped.

As Republicans on the House floor shouted “vote, vote, vote” and “lower gas prices,” the Democratic majority turned off the lights, cameras and microphones. Determined GOP Senate leader Mitch McConnell offered unanimous-consent requests to vote on lifting the ban on deep-water exploration, and the Democrats objected. When McConnell asked Democrats if they’d overturn the ban at $4.50 a gallon, they replied “no.” When he raised the price to $5, $7 and $10, they cried “no,” “no” and “no.”

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Back in those dark days of early 2007 when the MSM informed us that the nomination of Hillary Clinton was “inevitable” and that she had the “biggest and most professional campaign staff in U.S. history,” I used to say that the best defense against a Hillary Clinton presidency was an open microphone.

Ditto for a Barack Obama presidency as well. The Pubbies can’t make up anything better than what BO comes up with himself. Check out Obama’s latest wild hair as he positions himself to the left of Karl Marx.

~~John Cronin~~

http://www.ibdeditorials.com/IBDArticles.aspx?id=302222641317480

By INVESTOR’S BUSINESS DAILY

Election ‘08:

A plan by Barack Obama to redistribute American wealth on a global level is moving forward in the Senate. It follows Marxist theology — from each according to his ability, to each according to his need.

We are citizens of the world, Sen. Obama told thousands of nonvoting Germans during his recent tour of the Middle East and Europe. And if the Global Poverty Act (S. 2433) he has sponsored becomes law, which is almost certain if he wins in November, we’re also going to be taxpayers of the world.

“We can’t drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times . . . and then just expect that other countries are going to say OK,” Obama has said. “That’s not leadership. That’s not going to happen.”

Oh, really? Who’s to say we can’t load up our SUV and head out in search of bacon double cheeseburgers at the mall? China? India? Bangladesh? The U.N.?

In an Obama White House, American sovereignty will become an endangered species. The Global Poverty Act is the first toe in the water of global socialism.

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I was tempted to refrain from posting the results of a couple of my articles on the TribTalk site from last week because of my deep seated modesty when I thought….No, it’s not fair for me to with hold the results of our collective efforts to influence the body politic, just to satisfy my natural humility.

That being said, I thought it might be fun to take a look at how our conservative message resonates even on one of the most liberal sites that I am aware of.

~~John Cronin~~

Hot threads for last week on The Salt Lake Tribune’s TribTalk - Powered by vBulletin:

A Road To Victory Through Alaska? - 48 new posts

Started 5 days, 17 hours ago (2008-07-17 07:27:00) by John Cronin

http://www.ibdeditorials.com/IBDArti…01100996715 667 By INVESTOR’S BUSINESS DAILY Election: Quote: There’s little doubt voters want more drilling if even congressional candidates are starting to trek to Alaska to urge more oil development. Seven are there now. That’s a wake-up call to Congress. Congressional challenger Craig …

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New Limbaugh Contract Inspires America - 34 new posts

Started 1 week, 1 day ago (2008-07-14 08:16:00) by John Cronin

Wasn’t it great news when Rush’s mega contract was announced? Talk about a win-win situation. Conservative voices continue to dominate the airwaves because we have the best message and the best debaters. Liberals get to kvetch for at least another eight years. Liberal radio is virtually non-existent as the last attempt to get anyone to listen to their dopey message, Air America, has …

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Jason Chaffetz just returned from a week long fact finding trip to the ANWR (Alaska National Wildlife Refuge) region of Alaska’s North Slope. In the article he blames the energy crisis on the Democrats. On this point I don’t agree with Jason. IMHO, Democrats bear the major part of the blame, but some Republicans have been part of the problem as well. Their has been no monopoly of vice or virtue in either party.

It sure looks like the logjam on domestic drilling is starting to break apart. It has been exciting to see the level of public debate rise to the heights we have all witnessed with just the past month. Hopefully, this debate marks the end of a long held national policy of no drilling, no new ideas and no solutions.

~~John Cronin~~

http://deseretnews.com/article/1,5143,700244044,00.html

By Arthur Raymond
Deseret News

After visiting Alaska’s oil reserves this week, Utah Republican congressional candidate Jason Chaffetz said Democratic inaction has landed the country in its current energy dilemma.
Chaffetz spent most of this week in Alaska to become familiar with a domestic resource that Democrats have historically refused to tap — oil reserves in the federally protected Arctic National Wildlife Refuge.

Reached by phone Thursday in Anchorage, Alaska, Chaffetz identified what he sees as the cause, and solution, to escalating energy prices.

“There’s no doubt that Democrats are the problem. We’ve done what they’ve suggested, and look at the results — since (House Speaker) Nancy Pelosi took over, gas prices have doubled,” Chaffetz said. “Energy is our most pressing need — and ANWR appears to be part of the solution.”

Chaffetz, along with six other Republican congressional candidates — none of them incumbents — toured the wildlife refuge and met with Alaskans in Kaktovik, Prudhoe Bay and Point Barrow. He said utilizing the resources in ANWR is just a part of a bigger plan necessary to bring new, and more affordable, energy on-line.

“We have to explore every facet of development that’s available — wind, solar, hydro, nuclear — we have to move forward on all fronts,” Chaffetz said.

Here’s a look at one of the commenter’s on the site had to say about Chaffetz’ trip to ANWR.

Amen! | 7:48 a.m. July 18, 2008
Chaffetz is right on. ANWR is a barren wasteland. The caribou heards that were supposed to have died out once the pipeline was built have actually increased. All the doomsday prophecies turned out to be false. There’s no reason not to drill in ANWR.

If people see the potential for additional supply on the market, the futures market won’t look quite so appealing and the speculators won’t be as successful at driving up the price of oil.

If Bennion Spencer is willing to let environmentalists push us around, he’ll never get my vote. I believe in conservation and I live it. But I reject the notion that extracting energy resources will destroy life as we know it.

I couldn’t agree more with Chaffetz that global warming is a farce. Climate change is no farce. But I reject the idea that man can control the planet’s climate cycles. I don’t care how many billions of dollars we spend, we can’t control Mother Nature. I DO NOT want to elect someone who wants to flush our economy down the toilet in a futile attempt to control the planet’s climate.

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http://www.ibdeditorials.com/IBDArticles.aspx?id=301100996715667

~~John Cronin~~

By INVESTOR’S BUSINESS DAILY | Posted Wednesday, July 16, 2008 4:20 PM PT
Election:

There’s little doubt voters want more drilling if even congressional candidates are starting to trek to Alaska to urge more oil development. Seven are there now. [ Editor's Note: Jason Chaffetz is one of the candidates making the fact-finding trip] That’s a wake-up call to Congress.
Congressional challenger Craig Williams of Pennsylvania spoke to us Wednesday by phone from Deadhorse, Alaska. He and six other Republican candidates think there’s enough voter disapproval with Congress’ failure to do anything about gas prices to win this election, even in a season when Democrats are believed to have the advantage.
“We’ve got a Democratic Congress doing absolutely nothing. Even the Republicans (before them) didn’t do anything. So we are now paying $4 a gallon for gas. It’s an emergency,” Williams said.
The House, under Speaker Nancy Pelosi, has gone well beyond complacency and into obstruction. “We’ve got about a dozen bills ready for the floor of Congress, and they won’t allow any of the legislation to move forward,” Williams said. Democrats “are afraid of a Republican amendment on an energy bill and won’t allow it before the election.

The so-called Greens are portraying ANWR has heaven on earth, but I heard a pundit describe it this way: “If Hell ever did freeze over, this is what it would be like.”
The proposed drilling areas are on the coastal plain, not in the idyllic mountain ranges. When the spring thaw comes, it leaves behind huge ponds of stagnant water that dot the landscape and are a breeding ground for some of the worst mosquitoes who can imagine.
The drilling area is not located in one spot but is scattered over an area of about 2,000 acres, about the size of a major U.S. airport.

For starters, he noted, the potential drilling areas aren’t the idyllic tourist paradises environmentalists suggest. “That’s not where any drilling is proposed,” he said.
Take the tiny sliver of the Arctic National Wildlife Refuge proposed for energy development, where 10 billion barrels of oil await. It’s an icy coastal plain, said Williams. “It’s still pretty, and people have homes here, but it’s not what you see on TV,” he said.
People in the area desperately need jobs, and polls consistently show 75% approval for more drilling, Crockett said.

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This article reminds me of the poker scene from cowboy movies, “I’ll see your five and I’ll raise you five.” Bush just placed the ball in Congress’ court and we are all watching.

~~John Cronin~~

http://www.bloomberg.com/apps/news?pid=20601087&sid=a362
RHmsy71s&refer=worldwide

By Daniel Whitten and Catherine Dodge

July 14 (Bloomberg) –

President George W. Bush said today he’s lifting a presidential ban on drilling for oil and natural gas on the U.S. Outer Continental Shelf, setting up a showdown with Congress over a separate ban it put in place in the 1980s.

“Today I’ve taken every step within my power to allow offshore exploration of the OCS,” Bush said in a statement at the White House. “This means the only thing standing between the American people and these vast oil resources is action by the U.S. Congress.”

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The opinions expressed on some sites alleging that Mitt Romney is a 21st century version of Blackbeard the Pirate, searching for another company to acquire so he could throw all the employees out into the streets the week before Christmas are missing the mark.

The real pirates who apparently savor the thought of business failures, mass layoffs, bankrupt airlines, struggling consumers and enormous trade deficits are none other than the current (hopefully soon to be replaced) Democratic leadership: Obama,Pelosi and Reid.

~~John Cronin~~

http://www.townhall.com/columnists/HughHewitt/2008/07/11/its_the_oil,_stupid

By: Hugh Hewitt

The economic mess the country confronts can be laid at the feet of Barack Obama, Nancy Pelosi and Harry Reid. The Don’t Drill Democrats are forcing deindustrialization through depression brought about by soaring energy costs. This is a man-made meltdown, and make no mistake: The Democrats could halt and reverse the skyrocketing cost of oil, but they are choosing not to.
The impact of the massive oil shock brought about by the rise of oil to more than $140 a barrel has just begun to be felt. The airline industry has gotten organized to alert everyone it can that it cannot continue to stagger along at this price. Eight airlines are completely gone that flew a year ago, and many others are on the brink. Layoffs and new charges to battle soaring costs are hardly worth noting they arrive so frequently.
Tremors continue to course through Wall Street as investors shunned mortgage giants Freddie Mac and Fannie Mae and yesterday worried Congressmen throw questions at the Fed Chairman and the secretary of the Treasury: How bad can it get?
The answer is very bad indeed. We may be headed for another big bailout of a financial institution, a crisis that could have been avoided had the Congress acted first on energy. The hit on every individual and business at the pump has squeezed the liquidity out of the market, and scared the consumer into a caution not seen in decades. Barack Obama is standing off stage way-left with a plan to tax everything that moves and spend it on transfer payments, and the markets know that means postponing growth until the kids have had their shot at reenacting Jimmy Carter’s triple play of sky high interest rates, double digit inflation and unemployment above 7%

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How ironic it would be if the people who are partially responsible for $4 per gallon gasoline, the Congress, would then get to gleefully impose a tax on the product whose price they helped drive up!!

Luckily, we have men like Dr. Onder who are committed enough to sign no new tax pledges BEFORE they are elected.

Go to www.bobonder.com and check out Dr. Onder’s positions on the issues that are important to us. If you agree with me that Dr. Onder will not be part of the problem once he gets to Washington, but will become part of the solution, please consider making a campaign contribution to help defray the high cost of elective office.

~~John Cronin~~

Columbia, MO -

With gas prices hovering above $4 a gallon and without any relief in sight, Dr. Bob Onder today pledged to vigorously oppose all efforts to raise energy taxes relating to climate change that would result in a net increase in federal revenue.

The pledge, sponsored by Americans for Prosperity, a non-profit taxpayer advocacy group with a strong presence in Missouri, reads:

I, Bob Onder, pledge to the taxpayers of Missouri’s Ninth District and to the American people that I will oppose any legislation relating to climate change that includes a net increase in federal government revenue.

“High energy prices harm American families and small businesses,” Dr. Onder said. “By signing this pledge, I have committed to helping Missourians by fighting all efforts to raise energy prices by government order.”

“For continued prosperity, the American people should have access to affordable, homegrown energy,” he continued. “As a member of Congress, I will help make this a reality by opposing energy tax hikes and supporting exploration of American energy sources.”

Dr. Onder, the leading Republican candidate in the Ninth District, also issued a direct challenge to the other candidates in the Ninth District race. “If the other candidates in this race are serious about lowering the price of gas, the least they can do is sign this pledge to oppose energy tax increases,” he said. “If they don’t sign it, we can assume that they would consider, or even favor higher gas taxes.”

Carl Bearden, Executive Director of Americans for Prosperity in Missouri, applauded Dr. Onder’s pledge. “”Americans for Prosperity-Missouri applauds Dr. Bob Onder for stepping up to voluntarily sign the No Climate Tax pledge. All candidates are encouraged to sign these pledges and go on the record in opposition to using the climate change issue to raise taxes.”

The Carbon Tax Pledge was started by Americans for Prosperity in response to the Lieberman-Warner Secure Climate Act, a piece of legislation that would have imposed a $1.2 trillion tax hike on the American public over the next ten years. Though the bill was sold as a “market-based system,” it would have imposed significant regulatory taxes on energy that would have been passed along to Americans in the form of higher gas, electricity, heating, oil, and food prices. More information on the pledge can be found at www.nocarbontax.org.

Dr. Onder has previously called for the federal government to allow oil exploration in the Alaskan National Wildlife Refuge (ANWR) and on the continental shelf, and was pleased to see Republican Presidential candidate John McCain adopt his position on offshore drilling late last week.

Press inquiries should be directed to Jay Barnes at 573.418.0719 or jaybarnes@bobonder.com. Dr. Onder will be available for interviews regarding this announcement Tuesday afternoon.
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All eyes are on Utah this weekend as voters get ready to cast their ballots this Tuesday, June 24. The race between incumbent Chris Cannon and Jason Chaffetz is getting national attention because the stakes are so high and because the race is a surrogate referendum on whether we start drilling for domestic oil and wean ourselves from our dangerous dependence on foreign oil and whether we will finally secure our borders and insist that our immigration policies will be guided by the rule of law.

If you want to see these positions upheld in Congress and you live in Utah’s 3rd Congressional District, please be sure you vote for Jason Chaffetz and bring along 2 or 3 like minded friends or relatives.

Vote for Jason Chaffetz for Congress in Utah’s 3rd District this Tuesday!!

~~John Cronin~~

http://www.ksl.com/?nid=148&sid=3581444

It’s a primary election too close to call, and the hottest political races are among Republicans.
Congressman Chris Cannon is facing another close election next Tuesday, this time against fellow Republican Jason Chaffetz. And that’s not all: The state’s treasurer’s race is close too.

These are a hard-fought Republican-versus-Republican races, and an exclusive Dan Jones poll for KSL and The Deseret News shows no clear winner in either race.

In the 3rd Congressional District race, challenger Jason Chaffetz is aggressive about running for office. Before and since the Republican state convention, he’s been attacking incumbent Chris Cannon’s record.

The race has boosted interest in the primary. Of the 312 registered voters in the 3rd District, interest is high. All of them expressed they are very or somewhat likely to vote. But how will they vote?

The poll shows Cannon with a slight edge over Chaffetz, 44-40 percent. But the remaining 16 percent are undecided, which means Tuesday’s results could depend on turnout.

“Of those, those who show the most interest, Chaffetz is one or two points ahead. But of those who plan to vote, it is Mr. Cannon,” said political pollster Dan Jones.

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If Obama and McCain really believe what they are saying about the oil companies, they both need to re-open their studies of Economics 101. The quotes below show a stunning lack of understanding about both economics and human nature. Although I am not a big fan of McCain, Obama’s policies are radioactive. What he says in the quote below is just good old fashioned socialism and I don’t use that term lightly. He proposes to take money from Exxon, in other words from American citizens who own Exxon stock and then redistribute it to other Americans to use however they see fit. The implication, of course, is that if you will vote for me, I’ll confiscate someone else’s property and turn it over to you.

This attitude is flat out dangerous. Mr. Obama must be defeated at the polls this November. You might be tempted to think, well, I don’t own any Exxon stock, so his policy won’t adversely affect me. Don’t think for one moment that he will stop with Exxon. To politicians who think like Obama, the U.S. Treasury is their very own gigantic piggy bank and it exists only to fund whatever ideas emanate from their fevered brains.

~~John Cronin~~

http://online.wsj.com/article/SB121383441884986739.html?mod=googlenews
_wsj

By KARL ROVE

June 19, 2008; Page A13

Barack Obama and John McCain are busy demonstrating that in close elections during tough economic times, candidates for president can be economically illiterate and irresponsibly populist.

In Raleigh, N.C., last week, Sen. Obama promised, “I’ll make oil companies like Exxon pay a tax on their windfall profits, and we’ll use the money to help families pay for their skyrocketing energy costs and other bills.”

Set aside for a minute that Jimmy Carter passed a “windfall profits tax” to devastating effect, putting American oil companies at a competitive disadvantage to foreign competitors, virtually ending domestic energy exploration, and making the U.S. more dependent on foreign sources of oil and gas.

This past Thursday, Mr. McCain came close to advocating a form of industrial policy, saying, “I’m very angry, frankly, at the oil companies not only because of the obscene profits they’ve made, but their failure to invest in alternate energy.”

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In an affirmation of the pervasive power and far reaching influence of the Editorial Board of CommittedToRomney, President Bush, John McCain and Florida Governor Charlie Crist have now come around to our way of thinking about the energy crisis and have agreed with us that the policy of the United States of America needs to support offshore drilling to help alleviate tight oil supplies.:) (just kidding, but it was fun to write that sentence)

~~John Cronin~~

http://apnews.myway.com/article/20080618/D91CDVG01.html

WASHINGTON (AP) - For a quarter-century, drilling for oil and gas off nearly all the American coastline has been banned in part to protect tourism and to lessen the chances of beach-blackening spills.

Then gasoline prices topped $4 a gallon this summer. Drivers and others began clamoring for federal lawmakers to do something about the record price of oil, much of it produced in foreign countries.

In response, President Bush is renewing his call to open U.S. coastal waters to oil and gas development, arguing that it’s high time to battle high prices with increased domestic production. He is planning to ask Congress on Wednesday to lift the drilling moratoria that have been in effect since 1981 in more than 80 percent of the country’s Outer Continental Shelf and to let states help to decide where to allow drilling.

“The president believes Congress shouldn’t waste any more time,” White House press secretary Dana Perino told The Associated Press on Tuesday. “He will explicitly call on Congress to … pass legislation lifting the congressional ban on safe, environmentally friendly offshore oil drilling.”

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By: Alexander Bolton THE HILL

http://thehill.com/leading-the-news/downturn-hits-house-2008-06-16.html

Maybe the Pelosis should give Mitt Romney a call. I’ve heard he’s a pretty sharp portfolio manager. While they are at it, maybe they should ask him his advise on energy policy as well.

~~John Cronin~~

Congressional leaders lost millions of dollars in last year’s economic downturn.
New financial disclosure reports reveal, however, that while House members suffered losses, senators defied the odds and saw their profit margins rise.

Speaker Nancy Pelosi’s (D-Ca.) husband, the San Francisco financier Paul Pelosi, lost between between $880,000 and $7.4 million in various investments. As a result, the Pelosis earned only several hundred thousand dollars if income from their assets, which range between $29 million and $133 million, according to public records.

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