Democrats keep saying we should release oil from the Strategic Petroleum Reserve, like we did after Hurrican Katrina. They fail to see the point that Hurricane Katrina was a natural disaster and there were supply disruptions. We can't release the reserves every time there's a spike in oil prices. That's like telling people to dip into their 401k's every time the price of gas goes up. It's just ridiculous.
After the President signed the executive order on Monday API released the following statement:
"It is now up to Congress to lift the moratoria. Doing so could boost U.S. supplies of oil and natural gas, increase the nation’s energy security, add additional, well-paying American jobs and bring billions of dollars into the Treasury. We encourage Congress to pass a common-sense and effective long-termToday the price of oil dropped for the third day in a row. The price of natural gas dropped 8%, the biggest drop in a year. Imagine what will happen if Congress voted to allow drilling in ANWR and offshore? You can't change the law of supply and demand. Supply goes up, prices drop. If speculators believe there will be an increase in supply, they will speculate that the price will drop. It's not that complicated.
energy policy designed to increase conservation and energy efficiency, promote greater supplies of all forms of energy, including domestic oil and natural gas."
Earlier this week American Solutions presented their petition with over 1.3 million signatures to leaders in the House and the Senate. This is what the American people want. When the Democrats took control of the House and Senate in 2006 they promised to do something about the price of gas. Since then the price has steadily climbed while they block any remedies that would alleviate the problem. The American people did not vote the Democrats into office for them to oppose President Bush on each and every one of his proposals. It is time for them to finally put politics aside and do their jobs.
It isn't too late the sign the petition to Drill Here, Drill Now and Pay Less.