Presidential hopeful Newt Gingrich blamed the Obama Administration for the recent spike in oil prices and promised supporters at the California Republican Convention today that he would sign an executive order if elected to approve the Keystone XL pipeline project.
With dozens of supporters holding “$2.50 a gallon” signs behind him during his speech at the Hyatt Regency San Francisco Airport Hotel Saturday, Gingrich admonished what he called the Obama Administration’s systemic failure in energy policy, and accused it of deliberately raising gas prices.
“When you fill up your tank, you can think of gas prices as the Obama tax,” he said.
The national average for a gallon of unleaded gasoline was $3.67 as of today, according to AAA.
Gingrich told the crowd of about 450 supporters that America must claim independence from the Middle East and other oil producing countries, and show that “if the strait of Hormuz were to be closed, we frankly wouldn’t care.”
In January, Iran threatened to close the strategic oil shipping route. The Pentagon plans to bolster US defenses around the Strait of Hormuz to prepare for a potential closure, the Wall Street Journal reported today.
Gingrich also criticized Obama for recently apologizing to Afghans after anti-American protests erupted throughout Afghanistan earlier this week when Qurans were found burning in a garbage pit at a U.S. military base.
“If you believe that America is weak and we should go around apologizing to the world, then Barack Obama is your candidate,” Gingrich said.
He emphasized that Obama’s strict oil exploration and drilling policies are inexorably linked to higher gas prices and greater reliance on foreign oil.
“We need to go on an all out effort to produce our own energy so we don’t care what Iran does,” he said.
Gingrich wants to ease restrictions on off-shore drilling and eliminate the ban on oil shale development in the American West. Oil shales are fine-grained sedimentary rocks from which combustible gas can be extracted. But although abundant, shale oil costs more to extract than crude oil, according to the World Energy Council.
Gingrich also ridiculed Obama for believing alternative energy sources, such as Algae-based fuels, will solve America’s energy needs. Although Gingrich believes in investing in alternative-fuel technology, it is implausible that it will be a scalable energy source in the next decade, he said.
“The president is for any fantasy that doesn't work today. Solyndra might work in 30 years,” Gingrich said.
Sharing a displeasure for Obama’s Administration, former Republican candidate Herman Cain also attended the convention to support Gingrich.
“Our biggest domestic challenge is the sluggish economy,” Cain said. “Newt’s economic plan starts with the same premise mine started with. We haven’t gotten Newt all the way to the 9-9-9 plan, but he’s closer than everyone else.”
Gingrich criticized other Republican candidates for “ignoring California” and focusing only on “Republican” states.
“I am running to be a president of all the people,” he said. “I want to run an American campaign, which has to be designed to reach every American to give them the choice.”
After today’s speech, Gingrich will fly to Georgia, one of the 10 states to hold primary elections on Super Tuesday. His sole victory was in South Carolina on Jan. 21. Arizona and Michigan will hold their primaries on Feb. 28.
Also, the television KRON 4 news says some of the pipelines from the MidWest are clogged, and they are buying some Canadian barrels of oil that are more expensive.
http://www.eia.gov/tools/faqs/faq.cfm?id=32&t=6 Persian Gulf countries account for 18.6% of U.S. petroleum imports. That's 18.6% of 49% or 9.114% of the petroleum produced in the United States. The top five source countries of U.S. petroleum imports are Canada (24.6% of imports), Mexico (8.8% of imports), Saudi Arabia (11.6% of imports), Nigeria (10.6% of imports) and Venezuela (10.2% of imports). Therefore, our reliance on Persian Gulf oil is not as great as Newt would have people believe it is. Oil prices are rising because Iran has cut off petroleum supplies to several European countries and there is a high probability of war between Iran the U.S., Israel and/or U.S. NATO allies, with China & Russia possibly coming in to help Iran, that could constrain Persian Gulf oil supplies. Oil prices will continue to increase as long as this situation exists and we could see $150 per bbl oil prices in the not too distant future. If war breaks out in Iran, we could see $200 - $250 per bbl oil prices depending upon the severity and length of the conflict. Newt says he wants regime change in Iran, making it clear that if he were President we would already be at war with Iran. Therefore, we would be looking at $7 - $10 per gallon gas pump prices if Newt was President. So much for Newt's wet dream of $2.50 per gallon gas prices if he were President.
A good argument could be made that our energy policy is pretty simple: sell it to us at whatever price you like, or we'll come in and take it. Seems to have worked just fine for the last 40 years, hasn't it. Newt might want to remember, being the well paid historian he is, that it was Jr who violated the upper band of the decades old $10-$40 p/bbl oil, taking the price to $148+ p/bbl. It currently sits at roughly $110, but we'll see $148 o/b again. So, after all those years/decades, what have we seen? Nothing. Absolutely nothing, other than higher oil prices.
And just look at where our money is going. It's going to the very folks that want us dead, which frankly is stupid. If we weren't here, oil would be darn near free; there would be insignificant demand relative to supply, regardless of world economic troubles. Heck, Dubai has built magnificent palm islands with our money to attract tourism. That is but one example: http://www.google.com/search?q=dubai&hl=en&prmd=imvns&tbm=isch&tbo=u&source=univ&sa=X&ei=t7BJT6alNOqniQKEqe3aDQ&sqi=2&ved=0CGgQsAQ&biw=1024&bih=897 There are some images to droll over as you make your reservations to visit our money.
And think of all the American lives this would save!!!!
Personal attacks don't hold water for the topic. Back up your cheap and tired political tactic with some facts. You can't. Further, just because you don't like Obama (an assumption on my part, based on your emotional outburst) doesn't change facts or history. Let's see what you got Paul.
"The money wasted in Afghanistan trying to get to central Asia to obtain oil and natural gas reserves ..." Another load. You must be a very strong person Paul; to be able to carry all that BS takes more than talent. Here's some info on the Strait of Hormuz: http://en.wikipedia.org/wiki/Strait_of_Hormuz I am providing this for you so at least you have access to actual facts. You might want to take a look before you post again. I find facts can be very helpful when discussing an issue; but then, that's just me. Really sucks when the facts of an issue diametrically oppose your well thought out load, huh? Pesky facts.
I'm not sure I understand the question. Could you restate it and clarify?