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Hopefully, the Obama administration will remain serious about reducing our dependence on Mideast oil. Iraq aims to triple oil exports to six million barrels a day in 10 years, earmarking two billion dollars to start increasing capacity, Finance Minister Baqer Jabr Solagh told AFP. “We are allocating about two billion dollars (1.6 billion euros) to the oil [...] Exxon Mobil on Thursday reported that second-quarter profit rose 14 percent, to $11.68 billion, the highest-ever profit by an American company. Exxon broke its own record. The profit of $2.22 a share compared with $10.26 billion, or $1.83 a share, in the quarter a year ago. On a related note, the Republican Party supports subsidies for oil [...] “We all know that a comprehensive solution is wind, tide, solar, all the other things all of us believe in. In the meantime, as we develop all of these alternate sources of energy, it will be vital that we continue oil production at a high level, including offshore drilling.” Just last month, McCain reversed himself [...] From our President – the gift that has kept on giving for nearly eight years: “I readily concede it (lifting a ban of offshore drilling) won’t produce a barrel of oil tomorrow, but it will reverse the psychology.” Translation – As long as it looks like the government is doing something to address the energy crisis, Americans [...] “Today, I’ve taken every step within my power to allow offshore exploration. This means the only thing standing between the American people and these vast oil resources is action from the U.S. Congress,” President Bush told reporters earlier today. Setting aside the fact that lifting this ban (smartly instituted by his father) will procedurally accomplish nothing, [...] |
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