Comprehensive American Energy Security and Consumer Protection Act H.R. 6899 [EH] and Pelosi the lunatic.

9-17-08

I thought it would be a great idea to take a look at this piece of garbage pushed and supported by the extreme left wing Speaker of the House, the most powerful woman in America, Nancy Pelosi.

Most legislation is jammed packed with all kinds of language that many people would find objectionable if they were simply made aware of it. This would certainly be the case with this bill which really has nothing to do with approaching or attempting to solve any energy issues in this country.

The Republicans, in an attempt to actually get something important accomplished in this Pelosi led do nothing 110th House of Representatives, tried to introduce some common sense energy policy in the way of H.R. 6566, full text found here.

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Some highlights of the Republican plan included:

“To increase the supply American-made energy in environmentally sound ways, the legislation will:

* Open our deep water ocean resources, which will provide an additional three million barrels of oil per day, as well as 76 trillion cubic feet of natural gas.

* Open the Arctic coastal plain, which will provide an additional one million barrels of oil per day.

* Allow development of our nation’s shale oil resources, which could provide an additional 2.5 million barrels of oil per day.

* Increase the supply of gas at the pump by cutting bureaucratic red tape that essentially blocks construction of new refineries.”

To improve energy conservation and efficiency, the legislation will:

* Provide tax incentives for businesses and families that purchase more fuel efficient vehicles.

* Provide a monetary prize for developing the first economically feasible, super-fuel-efficient vehicle reaching 100 miles-per-gallon.

* Provide tax incentives for businesses and homeowners who improve their energy efficiency.

To promote renewable and alternative energy technologies, the legislation will:

* Spur the development of alternative fuels through government contracting by repealing the “Section 526” prohibition on government purchasing of alternative energy and promoting coal-to-liquids technology.

* Establish a renewable energy trust fund using revenues generated by exploration in the deep ocean and on the Arctic coastal plain.

* Permanently extend the tax credit for alternative energy production, including wind, solar and hydrogen.

* Eliminate barriers to the expansion of emission-free nuclear power production.”

Nancy Pelosi would not allow this piece of legislation to come before the House for a vote. This bumbling, fumbling fool has the power to decide what you will pay for your fuel, by virtue of her politics.

Although over 70 percent of Americans are asking for offshore drilling, Nancy Pelosi did not allow the House of Representatives to vote on the Republican bill to lift the drilling ban. In a recent CNN interview, Pelosi admitted she would not schedule a vote on it because she opposes drilling in “protected areas.” It seems to be quite the contradiction to the pledge she made in 2007 at her swearing in as speaker:

“I accept this gavel in the spirit of partnership, not partisanship, and I look forward to working with you, [Minority Leader John] Boehner, and the Republicans in Congress for the good of the American people.”

Instead she thinks releasing oil from the Strategic Oil Reserve, an emergency safety valve in case of supply disruption, is the way to solve our problems. What a genius.

“We can’t drill our way out of this mess we are in”, so say the liberals who are beholden to the radical environmentalists. I can only presume those that stick to this nonsensical outlook simply ditched math class every day as children. In true Democratic fashion these folks grab the daily talking points sheet as they head out the door every morning proclaiming we have less than [insert small number of years here] of resources available so is a waste of time and money to barrel down (pun intended) this path. Pelosi knows so much better than everyone else as she is an expert right?

From the US Energy Information Administration :

“Proved reserves of crude oil are the estimated quantities which geological and engineering data demonstrate with reasonable certainty can be recovered in future years from known reservoirs, assuming existing economic and operating conditions. Proved reserves make up the domestic production base and are the primary source of oil and gas used in the United States. Total proved reserves of crude oil in the United States, as of year-end 2006, are 20.97 billion barrels, a 3.6 percent decrease from those of 2005.

What States contain crude oil reserves?

Thirty-one States have crude oil reserves. The top five are:

* Texas, with 4.9 billion barrels
* Alaska, with 3.9 billion barrels
* California, with 3.4 billion barrels
* Wyoming, with 706 million barrels
* New Mexico, with 696 million barrels.

Also, there are substantial crude oil reserves located in Federal Offshore fields: 3.7 billion barrels in the Gulf of Mexico and 441 million barrels in the Pacific.”

From energytomorrow.org:

“RHETORIC: We can’t drill our way out of this problem because the United States only has three percent of the world’s oil reserves.

REALITY: America has vast resources of oil and natural gas – enough oil to power more than 65 million cars for the next six decades and enough natural gas to heat 60 million homes for 160 years, according to government estimates. We may have considerably more resources, since the government conducted their last true inventory in the early 1980s using old data from now-outdated seismic equipment.

There are many examples of how the government’s initial estimates dramatically underestimated the amount of actual resources. For example:

* Alaska’s Prudhoe Bay oilfield has produced more than 15 billion barrels of oil and natural gas liquids, and is still producing. Government agencies forecast the region would produce no more than 9 billion barrels, total.

* In the Bakken Formation of North Dakota and Montana, the U.S. Geological Survey now says 3 billion to 4 billion barrels of undiscovered oil are available – 25 times more than the original estimate made in 1995.

* In 1987, the MMS estimated that there were 9 billion barrels of oil in the Gulf of Mexico. By 2006, after major advances in seismic technology and deepwater drilling techniques, the MMS resource estimate for that area had ballooned to 45 billion barrels.”

We clearly have enough resources to bridge the gap between where we are now and where we need to be in the future available right here in this country. This crap about getting off of foreign oil that we constantly hear is targeted at the vast majority of the people that have no idea where our imported oil comes from in the first place. Need a clue? How about Canada as the number one supplier of crude to the U.S. with Mexico coming in third behind Saudi Arabia. That’s right, the vast majority of our imports are from our neighbors to the north and south. What impact on their economies does one think it will have on them if we suddenly stopped importing oil and petroleum products? The border to our south has already been overrun to the tune of some 20 million illegal aliens and the government sponsored health care debacle in Canada would no doubt take a big hit with this 10 year alternative energy plan the envirowackos keep pushing through the Democratic party to foist upon the citizens of this country.

This H.R. 6899 [EH] (full text here) proposes:

*From the coast to 25 miles out, a permanent ban on drilling.

*From 25-50 miles out drilling permitted only if affected states agree however there will be no revenue sharing allowed with these states effectively leaving states little incentive to agree to oil exploration off their coasts. (Claims by the Democrats that this part of the bill will increase jobs are laughable as it is clearly obvious what their revenue sharing prohibition was designed to accomplish.)

*There will be no restrictions to drilling at 100 miles offshore. (Why not just make it 2000 miles while you are at it since this bill lacks litigation reform needed to ensure leases will not be tied up by environmentalist driven lawsuits which we know are coming regardless. Something else tells me the oil companies just might find it a tad prohibitive to even try and extract oil from this far out, but no doubt Pelosi knows that.)

*H.R. 6899 will also rescind some $18 billion dollars in tax incentives to the five largest oil companies and It also requires energy companies to pay billions of dollars in additional royalties from oil drilling in the Gulf of Mexico in the late 1990s. (How Pelosi could possibly twist this to make it appear it will help bring down the price of gasoline for the average American should be confusing to even the most ardent Barack Obama supporter.)

*Provide for billions of dollars to companies promoting alternative energy ideas and “solutions”. (I think this would be terrific if not for the Democratic oversight of the program which would do nothing but throw money down the hole without any viable, verifiable and successful progress in the field. Sound familiar?)

Now, what would a partisan bill from the Democrats be without it’s fair share of addressing the social issues that they think are at the root of all our nation’s ills.

This H.R. 6899 [EH] also includes several things that will probably not be brought up by the mainstream media but I found interesting nonetheless.

Quotas for companies owned by women and minorities bidding on offshore leases and a program to actively seek out these companies for the bidding process. -It should always be the most competitive bid with the highest qualified company no matter what but you know those Democrats.-

Grants to improve public transportation services which have never been embraced by the people of this country. -The farce of trying to jam Americans onto buses, trains and carpool lanes is not going to work no matter how hard the social engineers (read Democrats) of this country try and make them. That is reality and wasting billions on this effort is just that, a waste. Spare me the elitist BS on this one as none of those that advocate this forced mode of transportation of the citizens would ever utilize mass transportation just like they don’t really separate their trash into the recycle bin. Something about do as I say not as I do.-

Tax credits and incentives for important things like the one billionth of one percent of companies who have a few people riding a bicycle to work. -Huh? Yes, it’s in there.-

I had to quote this entire section as it really needs to be seen, especially after this recent Fannie Mae meltdown:

“SEC. 607. DUTY TO SERVE UNDERSERVED MARKETS FOR ENERGY-EFFICIENT AND LOCATION-EFFICIENT MORTGAGES.

Section 1335 of Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4565), as amended by the Federal Housing Finance Regulatory Reform Act of 2008 (Public Law 110-289; 122 Stat. 2654), is amended–

(1) in subsection (a)(1), by adding at the end the following new subparagraph:

`(D) MARKETS FOR ENERGY-EFFICIENT AND LOCATION-EFFICIENT MORTGAGES-

`(i) DUTY- Subject to clause (ii), the enterprise shall develop loan products and flexible underwriting guidelines to facilitate a secondary market for energy-efficient and location-efficient mortgages on housing for very low-, low-, and moderate income families, and for second and junior mortgages made for purposes of energy efficiency or renewable energy improvements, or both.

`(ii) AUTHORITY TO SUSPEND- Notwithstanding any other provision of this section, the Director may suspend the applicability of the requirement under clause (i) with respect to an enterprise, for such period as is necessary, if the Director determines that exigent circumstances exist and such suspension is appropriate to ensure the safety and soundness of the portfolio holdings of the enterprise.’;

(2) by adding at the end the following new subsection:

`(e) Definitions- For purposes of this section, the following definitions shall apply:

`(1) ENERGY-EFFICIENT MORTGAGE- The term `energy efficient mortgage’ means a mortgage loan under which the income of the borrower, for purposes of qualification for such loan, is considered to be increased by not less than $1 for each $1 of savings projected to be realized by the borrower as a result of cost-effective energy saving design, construction or improvements (including use of renewable energy sources, such as solar, geothermal, biomass, and wind, super-insulation, energy-saving windows, insulating glass and film, and radiant barrier) for the home for which the loan is made.

`(2) LOCATION-EFFICIENT MORTGAGE- The term `location efficient mortgage’ means a mortgage loan under which–

`(A) the income of the borrower, for purposes of qualification for such loan, is considered to be increased by not less than $1 for each $1 of savings projected to be realized by the borrower because the location of the home for which loan is made will result in decreased transportation costs for the household of the borrower; or

`(B) the sum of the principal, interest, taxes, and insurance due under the mortgage loan is decreased by not less than $1 for each $1 of savings projected to be realized by the borrower because the location of the home for which loan is made will result in decreased transportation costs for the household of the borrower.’.”

I sure hope you read that convoluted piece of nonsense carefully.

Of course there are the usual civil fines and penalties for anybody that doesn’t dutifully drop to their knees and do the envirowhacko’s bidding via the Democratic party yada freakin’ yada.

This thing is a waste of the paper it was printed on and the Democrats knew that. This was not a serious effort at solving anything or providing a long term solution to the energy needs of this country. The Senate will not touch this the way it is written and President George Bush has already said the veto pen is ready and waiting, as it should be for crap like this. The Democrats have done nothing in the last two years they have held control over Congress and there is a very simple reason for that. Any effort to take care of the people’s business could have made President George Bush “look good” and in turn would give the Republican presidential ticket in 2008 some traction going into the elections and Pelosi knew that. Solving problems and taking care of the citizens’ business was on the back burner for the Democratic leadership for purely political reasons and we have all been paying the price all along.

From newsvine.com:

Nancy Pelosi states, “You know, God bless him, bless his heart [the old southern insult], president of the United States, a total failure, losing all credibility with the American people on the economy, on the war, on energy, you name the subject,” Pelosi replied. She then tsk-tsked Bush for “challenging Congress when we are trying to sweep up after his mess over and over and over again.”

The 9% approval rated (the lowest in the history of Congress) Pelosi chastising Bush as the total failure, what a joke. Any sacrifice to come out on top in November huh Pelosi?

(admitting that increased supply reduces the price, imagine that)

Yeah, it’s never the fault of the Democrats when things go sideways…ever notice that?

This entry was posted in U.S. Politics.

One Response to Comprehensive American Energy Security and Consumer Protection Act H.R. 6899 [EH] and Pelosi the lunatic.

  1. Pingback: just a regular guy » Obama’s Energy Plan And What He Really Has In Mind For Us.

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