Why Drilling Now and Here Makes GREAT Economic Sense

1. Bush lifted the executive ban on oil drilling, with great results in the worldwide crude oil markets. Even though Bush lifting the ban was useless without Congress lifting their ban, crude oil still dropped. If the Congressional ban were lifted and drilling could begin, we would see an immediate drop in the crude oil prices, long before the oil starts coming out of the ground.

2. Drilling in our own country would keep money here and quit transferring it to the Arabs and dictators who hate us. Countries like Kuwait and Saudi Arabia have NO income tax. They have HUGE budget surpluses and billions of dollars invested so that they will NEVER have to pay taxes even after the oil runs out.

3. Complaints from Congress have centered on the oil companies making too much profit. It seems to me that Congress has an awful lot of control over how oil companies conduct business, especially when it comes to their leases. Why doesn’t Congress DO their job and negotiate leases that are acceptable in the first place? They should have a fluctuating value for the oil coming out of the ground on public lands. If crude oil prices go up, then the amount they pay us for the oil should go up correspondingly. Money brought in from the leases should go into funds set aside for the future of our country. Alaska and Kuwait have such funds. There is a base fund which is never touched, but invested. Half of the investment interest made is reinvested and the remaining half each year is paid out to residents in dividends. The profits could go into saving social security, lowering taxes and research into alternative energy sources.

4. Alternative energy seems to be a big focus on the political scene right now. Great, let’s plan for the future. But what about all that oil sitting in the ground. It has real value TODAY! And there is A LOT of it! We have as much oil as the Middle Eastern countries who hate us. That oil could be converted into cash and used to improve the economic conditions for our nation. When alternative energy sources become the main energy sources, the oil sitting in the ground will be worth LESS! It is analogous to saving your money in a mattress and the house burning down. NOW is the time to start cashing in on our nation’s tremendous natural resources.

Remember, we too, could be running our country on oil profits instead of taxes. We could quit having to worry about social security. The price of gasoline would come down with a rippling effect on many other things, including food prices. Our leaders need to start leading and looking out for what is in our best interest. They need to start considering families just trying to get by. With gas prices where they are right now and our oil just sitting in the ground with everyone’s hands tied, they are NOT showing that they care for the average American family. Please, please contact your Congressman and Senator and tell them to open up A LOT of drilling in many areas of our country. Tell them to negotiate appropriately with the oil companies. Tell them to use the money to benefit the FUTURE of our country!