Tuesday, July 15, 2008

Free Our Oil

Editorial in today's WSJ: Free Our Oil

In Alaska, the citizens get cash payments from the royalties derived from Alaskan oil drilling. Wouldn't it be nice if we had some offshore royalties coming in to shore up sagging Florida state gov't revenues? Wouldn't it be nice if we had a Taxpayer Bill of Rights that limited growth in state spending -- and the offshore oil royalties were pouring in? Wouldn't it be nice if Florida had to send out royalty checks to its citizens -- per capita checks benefiting rich and poor, young and old, black and white, English-speaking and Spanish-speaking alike?

The only thing standing between us and those checks are the Dems in Congress. Does anybody doubt that, if the Republicans still formed a majority in Congress, the offshore oil ban would be history? If Newt were Speaker instead of Nancy, Congress would have presented a repeal of that ban for the President to sign on the same day he lifted the Executive moratorium.

And oil dropped by the biggest one-day percentage in some 16 years -- second big drop this week. This on the day after the President ended the moratorium. But we're told lifting the ban would not affect oil prices for years to come.

If Duke Cunningham, Jack Abramhoff and Mark Foley could sink the Republican majority in 2006, this issue -- Democratic obstinacy on offshore drilling -- could sink the Democratic majority. Did any of you see the electoral disaster for Republicans at this point in the summer of 2006? A steady drumbeat of criticism could do in the Congress who has overseen the doubling of oil prices and refused to respond.

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