“The fundamental source of high gas prices is the fact that supply is not keeping pace with demand. To reduce pressure on prices, we need to increase the supply of oil, especially oil produced here at home. So in June, I called on Congress to lift the legislative ban that prevents offshore exploration of parts of the Outer Continental Shelf, or OCS. But the leaders of the Democratic Congress have refused to allow a vote,” Bush said.
The president used some deceptive language when speaking about the amount of oil offshore, “First, lifting the ban would allow our Nation to take advantage of a large and reliable source of domestic oil. Experts believe that these restricted areas could eventually produce about 18 billion barrels of oil. That’s almost 10 years worth of America’s current oil production.” He is referring to production not supply. The 18 billion barrels of oil, if not put on the world market, would last America for 14 months.
Bush also refused to tell the American people how long it will take for offshore oil to lower their gas prices, “Bringing these resources online will take time, and that means that the need for congressional action is urgent. I’ve lifted the executive restrictions on offshore exploration. “Yes, it will take time, at least a decade, but the president doesn’t want you to know that.
Bush blamed Congress for high gas prices, “This means that the only thing now standing between the American people and these vast oil resources is the United States Congress. The sooner Congress lifts the ban, the sooner we can get this oil from beneath the ocean floor to your gas tank.” Yes, it will take time, at least a decade, but the president doesn’t want you to know that.
This radio address is why I don’t think the compromise energy bill has a chance of being signed into law. President Bush has no interest in alternative energy. Even though the bill does provide for some limited offshore drilling, it also provides billions for alternative energy, and hybrid vehicles, while repealing a $30 billion tax break for the oil companies. Since Bush wants to spread the lie that we can drill our way out of this crisis, so Congress may have to override a veto in order to pass the bill.