You may have noticed that denouncing the "failed policies of the past" has
become the official catechism of the Democratic Party.
Heck, it wouldn't surprise me if at DNC headquarters "gesundheit" is out as
the polite response to a sneeze and tsk-tsking the rise in nose-tickling
particulates thanks to the bankrupt policies of the Bush administration is
in.
So, you'd think if everything Bush has done is wrong, then a reversal of his
position would be right.
Wrong again. We didn't hear applause from Democrats this week when President
Bush "reversed" his "longstanding position" (in the words of The New York
Times) on offshore drilling.
Nearly thirty years ago, Jimmy Carter's windfall-profits tax kicked in,
making domestic oil exploration more difficult and expensive. In 1981,
Congress passed a moratorium on offshore drilling that has stayed in place
ever since. In 1990, the first President Bush signed an executive order
reinforcing the ban on coastal oil exploration. And, until this week, the
current President Bush supported the ban.
And yet, no cheers for Bush when he abandoned his failed policy of the last
eight years. Instead, Sen. Majority Leader Harry Reid sniffed that these
were more of the same "old ideas." Odd.
And when John McCain similarly reversed himself, the Democrats whistled the
same tune again.
"John McCain's plan to simply drill our way out of our energy crisis is the
same misguided approach backed by President Bush that has failed our
families for too long and only serves to benefit the big oil companies,"
declared the Obama campaign.
Now, it's fair to say that more drilling is the approach President Bush
wanted. And it's even defensible for Obama to
call it misguided. But the salient fact is that Bush didn't
get what he wanted because he was constrained by the real
failed policies of the past.
Indeed, we constantly hear we can't drill our way to lower gas prices, but
how does anybody know when we haven't even tried?
Despite enormous improvements in extraction technology, the amount of oil
produced domestically in America went down in the last eight years. It went
down in the 1990s. It went down in the 1980s. In fact, it's been trending
down since the 1970s, back when Barack Obama's "new" ideas seemed fresh
coming from Jimmy Carter. Today, we produce about as much domestic oil as we
did in the late 1940s, even though we keep finding, but not utilizing, more
proven reserves.
That hardly sounds like a country that's been dedicated to "drilling our
way" to anything. The issue isn't just oil. Gas prices largely hinge on
refining capacity. But, as John McCain observed this week, "There's so much
regulation of the industry that the last American refinery was built when
Jerry Ford was president."
Continued... |