End Partisan Games; Hold Energy Summit
Three years ago, a bipartisan group of U.S. senators dubbed “the gang of 14” resolved an intense conflict over judicial nominees.
Now, a “gang of 10” hopes to invoke a similar spirit and approach in a search for energy solutions. It is a bold step back from the partisan brink on an issue of the utmost importance to the nation.
The “gang of 10,” which includes Sen. Bob Corker, R-Tenn., is calling for an energy summit. Senate leaders should oblige them.
So far, the reaction to their proposal is mixed. Senate Majority Leader Harry Reid, D-Nev., appears poised to nix the idea. Senate Minority Leader Mitch McConnell, R-Ky., seems favorable, although he hasn’t endorsed the summit idea outright.
McConnell is hoping to entice moderate Democrats to support his energy bill, the “Gas Price Reduction Act,” by backing away from some of the most controversial GOP proposals and pushing conservation, too.
McConnell describes his strategy thusly, “Find more; use less.” This is an improvement over some in his party who seem to favor the “find more” portion of the equation alone.
Corker, who has impressed us with his centrist positions on a number of issues, supports McConnell’s bill. We’re still reading the fine print, but on its face, the bill seems vastly superior to the in-your-face “No More Excuses Act” that is being pushed by U.S. Rep. David Davis, among others.
A comparison of the two bills on their broad points breaks down like this:
n Both would lift the ban on offshore drilling. However, McConnell’s bill appears to offer greater protection to states, like California and North Carolina, that object to such drilling.
n McConnell’s bill doesn’t open the Arctic National Wildlife Refuge to drilling. “No More Excuses” does.
n McConnell’s bill calls for increased oversight and additional regulation of U.S. energy futures markets.
This would address the concern that energy speculators are at least partially responsible for the run-up in oil prices. “No Excuses” is silent on speculators.
n McConnell’s bill also would provide incentives for the development of advanced batteries for electric cars and the development of plug-in hybrids. It would encourage the U.S. government to purchase more plug-in hybrids as well.
n Both bills would repeal a moratorium on oil shale exploration in the American West.
It is important to note that some of the more damaging aspects of the “No More Excuses Act” are not included in McConnell’s bill. For instance, it would not lift requirements for special blends of gasoline in polluted parts of the country and it wouldn’t open federal lands for construction of oil refineries.
McConnell’s bill isn’t perfect, and it isn’t certain that it will reduce prices at the pump. Indeed, America might be facing a high-cost energy future, no matter what Congress does.
But there are arguments in favor of tapping our own resources that go beyond price. Who wants to keep sending so much money to hostile nations, after all?
We commend McConnell, Corker and the other members of the “gang of 10” for looking for bipartisan common ground. This is a much better approach than using high gas prices as an election year weapon to bludgeon the opposition (the Davis approach).
It’s high time to call an energy summit, and to seek bipartisan consensus. Democrats and Republicans who do otherwise risk being labeled as obstructionists and repaid by the voters come November.
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Reader Reactions
DRILLING ANY WHERE ANY TIME IS NOT GOING TO FORCE THE PRICE OF OIL DOWN.
THE PRICE OF OIL FUTURES MUST COME DOWN!
ALL OIL IS SOLD TO THE MARKET THRU THE COMMODITY MARKET.
THE HEDGE FUNDS ARE NOW OFFSHORE AND THE SEC HAS HAD IT’S BUDGET CUT 35% OVER THE PAST 2 BUSH BUDGETS SO ENFORCING ANY NEW REGULATIONS, ESPICALLY ON OFFSHORE INVESTORS IS IMPOSSIBLE.
THESE HEDGE FUNDS HAVE CORNERED THE MARKET ON OIL FUTURES.
ASK YOUR SELF WHO HAS THE MOST MONEY TO INVEST IN THESE HEDGE FUNDS!
THE SADUI’S OF COURSE HOLD THE GREATESDT AMOUNT OF MONEY ALONG WITH INSURANCE COMPANYS AND OTHER CONGLOMERATES THAT RULE THE FUTURES MARKETS.
WAKE UP AMERICANS DE-REGULATION HAS CUT YOUR THROAT WITH OIL PRICES AND IN THE BANKING INDUSTRY.
THE CON MEN HAVE WON!!!!!!


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