| on Jun 19, 2008, 10:44 AM E.S.T.
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With gas prices getting voters' attention, McCain's right about lifting offshore drilling ban
Republican presidential candidate John McCain this week reversed his
position and drew environmentalists' wrath when he came out in favor of
lifting the federal ban on offshore oil drilling. Mr. McCain apparently
realizes he needs motorists' votes more than environmentalists'
endorsements. Better late than never.
Rising gasoline prices have
focused voters' attention. A poll last October in the San Francisco Bay
Area found 69 percent willing to pay an additional 10-cent gasoline tax
to "fight global warming." This week only 37 percent liked the idea.
The
federal government imposing costly greenhouse-gas restrictions was the
latest Capitol Hill fad until rising fuel prices gave the public a peek
at the sacrifice that global warming alarmists demand of them. The
Senate last week snuffed out the Climate Security Act once its
tremendous costs were publicized, including an estimated additional
$1.40 per gallon of gasoline.
Only a decade ago motorists filled
up for 99 cents a gallon, a quaint amount compared with California's
current $4.43 average. Almost 80 percent of those surveyed for the
Washington Post-ABC poll said high gasoline prices now pose a financial
hardship, establishing that issue for the first time in recent memory
as a top concern among voters.
Rising gasoline prices have
economic domino effects. The Los Angeles Times reports the prices of
far-flung homes have declined more than houses close to major work
centers. It attributes the difference to rising commuting costs.
Detroit is acknowledging rising fuel prices by reducing production of
gas-guzzling SUVs and large trucks, while the California Chamber of
Commerce trumpets four-day workweeks to reduce commutes. In May, Gallup
showed 57 percent of Americans favored "allowing drilling in U.S.
coastal and wilderness areas now off-limits," while only 20 percent
blamed increasing gasoline prices on Big Oil.
"There are areas
off our coasts that should be open to exploration and exploitation, and
I hope we can take the first step by lifting the moratoria," Mr. McCain
said. He said there are untapped U.S. oil reserves of at least 21
billion barrels, most of which can't be extracted because of federal
restrictions. The Congressional Research Service estimated 86 billion
barrels of oil plus 420 trillion cubic feet of natural gas are
available on the Outer continental shelf alone, 85 percent of it
off-limits and 97 percent undeveloped. That doesn't include 10.4
billion barrels estimated in the Arctic National Wildlife Refuge, which
would be the largest producing oil field in the Northern Hemisphere –
were it not for a federal drilling ban.
We hope that even if it's
only a crass appeal for votes, Mr. McCain rethinks his opposition to
drilling in ANWR and also pledges to overcome Democrat opposition to
leasing interior federal lands that may contain 1.8 trillionbarrels of oil in solid shale rock, which a RAND Corp. study estimates could be enough to meet U.S. energy needs for centuries.
The
U.S. realistically can't become energy independent, but it can become
energy self-sufficient by drilling closer to home, reviving shunned
technologies such as nuclear power and by encouraging private companies
to seek new technologies and approaches in support of that goal. Source
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