Yet the Democrats continue to talk as if we cannot touch our own oil reserves, and still not pay higher prices at the pump.
Obama told reporters that offshore drilling wouldn't bring relief to consumers for five years -- other Democrats say 10 years -- at the soonest. He also touts the $150 billion he wants to spend over 10 years on the "green energy sector" -- that money won't provide instant results, either.
Rayola Dougher, an economic analyst for the American Petroleum Institute, estimated that there are 1 million to 2 million barrels of oil per day that could be drilled in now-restricted coastal areas -- "that's 10-20 percent of what we're importing." That oil could be on the market in as soon as five years.
Back in 1995, when President Clinton vetoed legislation to permit drilling in ANWR, environmentalists argued that it would do no good for Washington to permit drilling in the Alaskan refuge because Americans wouldn't see any oil for 10 years. Who doesn't want that oil now?
"Now that their opposition has helped drive gas prices to record levels," Bush said of the Democrats Wednesday, "I ask them to reconsider their positions." Americans may have been willing to live in oil la-la land and oppose new drilling offshore or in Alaska when they thought a moratorium wouldn't cost them. Now they know better.
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