Tuesday, October 07, 2008

Bush Speaks from Chantilly

President Bush met with a group of business people in Chantilly, Virginia and no, it wasn't The Bilderberg Group. He spoke to regional business leaders. His words and my factual inserts are below:

One pressing concern is obviously the cost of energy. The cost of energy affects families, but it affects businesses as well, like Guernsey, which rely on energy to ship and make your products. High energy costs obviously are attributable to the high price of oil and natural gas.

Gas demand down 9.5% from last year (per CNBC), gas prices up 24.5%

And that's why this administration, in working with Congress, has dramatically expanded funding for research into alternatives, including hybrid car batteries, fuels like ethanol and biodiesel, solar and wind power, and safe and nuclear power -- safe and clean nuclear power.

The rescue package I signed last week extended tax incentives to alternative energy sources. In other words, the rescue package was just not aimed at dealing with the financial issues; it was aimed at dealing with the energy issues, too, to help encourage alternative energy so we become less dependent on foreign oil. However, in the meantime, we need to be drilling. I mean, I'd rather us drill here than send our money overseas. And we can do so in environmentally friendly ways.

Hurricane Ike spilled over 500,000 gallons of oil. Katrina spilled 20 times that amount.

Congress responded to the will of the people by lifting the ban on offshore energy exploration, which is good. It's going to take a while to go through all the permitting and all the environmental regulations, but nevertheless, a step was -- a positive step was taken to become less dependent on foreign oil.

Bush appointed Cheney minion F. Chase Hutto, III to the DOE to drive permitting. George W. extended the government sponsored drilling research arm. How convenient for the feds to pick up the costs for drilling R & D.

No comments: