There has been much talk of late in Congress about the need to begin
drilling our own oil. THE WALL STREET JOURNAL reported a poll which
indicates that 57% of Americans now favor drilling and 42% want to keep
the oil reserves for future pristine beauty. The poll represents a
dramatic shift from radical environmentalism. Despite such, a House of
Representatives committee voted against a resolution to permit drilling
off U.S. shores. Apparently, with gas over $4 per gallon, Americans are
getting the picture. Sure, we can't completely drill our way to energy
independence. However, it is becoming clear that Saudi Arabia has the
better end of the bargain.
Apparently, we have more oil in one of the locked reserves than that of
Saudi Arabia. In turn, we are subsidizing Venezuela. President Hugo
Chavez funds leftist guerrillas in neighboring states. Our funds have
also enabled the Russians to rail against American defense and foreign
policies.
Iran not only wants to harm Americans but has promised that Israel will
be destroyed. These nations build weapons with our money and so it goes.
True, we purchase oil from Canada and Mexico but why should we line
their pockets when we have our own oil and its extraction would create
thousands of domestic high-paying jobs. Senator James R. (Jim) Inhofe,
who almost single-handily has exposed the fallacies in the hysteria over
global warming, is now the leading proponent of drilling here, drilling
now. So what kind of reserves are we looking at? Inhofe says the Outer
Continental Shelf would yield 14 billion barrels of oil. ANWR would
yield 10 billion barrels. Rocky Mountain Oil Shale in Colorado, Utah and
maybe Wyoming would yield two trillion barrels. Now ever since the first
oil was extracted from the ground in Pennsylvania in the 1850s to the
present, we have used one trillion barrels of oil. Finally, by the
preserving of access to Canadian oil sands 179 billion barrels of oil
would be available.
This does not include the recently discovered oil reserves in North
Dakota. We yet do not have a reliable measure of what is there but some
engineers estimate that we are talking about at least 50 to 100 billion
barrels of oil. We have been told for years that we will be running out
of oil any year. That is utter nonsense.
Other nations also are making major finds. Most of them are not our
enemies. Clearly $4 gasoline has begun to change attitudes and even
behavior. Transit systems all over the nation are carrying loads not
seen since the years immediately following World War II. I was visiting
with the Amtrak hierarchy last week. Passenger traffic is dramatically
up from a year ago last month. One of the trains has 85% more passengers
this year over last. All of the Corridor trains, Washington - New York,
New York - Boston, Boston - Portland, Chicago - St. Louis, Milwaukee -
Chicago, San Diego - Los Angeles and three other California corridors
are all carrying record numbers of passengers.
In fact, Amtrak is running out of equipment. Amtrak has only a small
backlog of injured passengers cars which can be repaired and put back
into service. Most Amtrak trains need reservations now in order to
guarantee seats to passengers. No wonder the Amtrak reauthorization bill
has passed both houses with veto-proof majorities. Typically, the George
W. Bush Administration was on Capitol Hill lobbying against the bill.
Their green eye-shade mentality cannot comprehend what is happening in
the countryside.
A Senate-House Conference Committee will iron out differences in the
bills. President Bush already has said he would veto the measure. I will
be very surprised if his veto were not overridden. The House-passed bill
contains two amendments the fate of which is uncertain. One would
provide $150 million for each of the next ten years for the Washington
Metrorail System. Bush is really against that amendment and he might
succeed in getting it knocked out of the bill. But Metrorail is now
carrying almost 800,000 passengers per day. The other amendment was
pushed by Representative John Mica (R-FL). It would authorize a super
high-speed corridor between Washington and New York, reducing the time
between those cities from three hours to less than two. A laudable goal
but the cost of doing such would be so prohibitive that a new corridor
may never see the light of day. Even if gas prices decrease many people
would have discovered that they can save money by using the train and
may do so in relative comfort. This dramatic turnaround may not just be
temporary.
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