“We are allocating about two billion dollars (1.6 billion euros) to the oil [...]]]> 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 ministry in the 2009 budget in order to start increasing capacity in this sector,” Solagh said in an interview on Wednesday.

“From my view, we need to increase our exports at least to what they were in the 1980s, when we exported 3.4 million barrels a day,” he said.

Ah, the 1980s…when the United States and Saddam Hussein were allies and trade partners, oil was flowing freely and we stood by while innocent Iraqis were murdered by their own government (the same reason we later determined Hussein was a criminal and should be executed). Yes, freedom is on the march, indeed.

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 [...]]]> 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 companies and advocates a policy of more drilling.

Just last month, McCain reversed himself [...]]]> “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 after years of opposition and called for lifting the federal ban on oil drilling off the U.S. coast.

How perfectly does the photo below epitomize the Republican Party? Mr. Campaign Finance Reform desperately needs campaign donations from oil companies to be competitive with Senator Obama which is why he has flip flopped on energy policy. This country desperately needs real campaign finance reform instead of the joke that we call our current policy (drafted of course by Senator McCain).

“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 [...]]]> 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 will ignore reality and be satisfied.

This is concrete proof that your President really does think you are as dumb as he is!

Sounds like the President has been getting his talking points from former Senator Phil Gramm and his infamous “mental recession.”

Setting aside the fact that lifting this ban (smartly instituted by his father) will procedurally accomplish nothing, [...]]]> “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, drilling for more oil does nothing substantively to solve our nation’s energy problems either. Bush himself has said that we are addicted to oil; why would he want us to sustain that addiction by helping us obtain more oil?

For a short term political gain and a temporary mild dip in prices?

The U.S. Energy Department’s forecasting arm has said opening the Pacific, Atlantic and eastern Gulf of Mexico regions to drilling “would not have a significant impact on domestic crude oil and natural gas production or prices before 2030.”

The demand will only continue to increase, policies will not be put into place that will ween us off this addiction and supply will only marginally increase. The worst way to end an addiction is to provide the addict with more of what said addict is addicted to. High has prices will never go away and is something that we are going to have to get used to.

As usual, Bush’s logic is fatally flawed. It’s a good thing Bush is our first President with an MBA; that degree has sure been put to good use with ideas like this one.

President Bush – lame duck since November 2006.

Republican presidential candidate John McCain said Monday that the search for alternatives to the country’s dependence on foreign oil is so urgent that he’s willing to throw money at it.

The Arizona senator [...]]]> This would be much funnier if it wasn’t so sad. Our potential next President thinks our nation’s nonexistent energy policy is a joke:

A prize like it’s a box of cereal. The McCain Administration!