FOR IMMEDIATE RELEASE: June 25, 2008
CONTACT: Mark Bubriski or Alejandro Miyar, 850.222.3411
Admin. Says Again that Bush-McCain-Crist Drilling Idea Won't Lower Gas Prices
TALLAHASSEE - Speaking today at a press conference, the head of Department of Energy's Energy Information Administration said expanded offshore drilling in the U.S. won't affect oil and natural-gas prices much, Bloomberg News reports.
"It does take a long time to develop those resources," Administrator Guy Caruso said. "Therefore, the price impact is muted by that."
Last week, in a shockingly deceptive move, John McCain and Charlie Crist flip-flopped on their long-held position against offshore drilling to line up with President Bush.
"The projections in the OCS access case indicate that access to the Pacific, Atlantic, and eastern Gulf regions would not have a significant impact on domestic crude oil and natural gas production or prices before 2030," the Energy Information Administration wrote in its 2007 report.
The EIA is the statistical arm of the U.S. Energy Department.
McCain Says His Energy Plan Would Only Have A "Psychological Impact" On Americans. "In the short term I'd like to give you a little relief for the summer on the gas tax,' McCain began, referring to his controversial proposal to temporarily suspend the federal tax on gasoline. But then he made a surprisingly candid admission: 'I don't see an immediate relief, but I do see that exploitation of existing reserves that may exist -- and in view of many experts that do exist off our coasts -- is also a way that we need to provide relief. Even though it may take some years, the fact that we are exploiting those reserves would have psychological impact that I think is beneficial.'" [MSNBC, 6/24/08]
Republican House Speaker Marco Rubio: Linking lower gas prices and drilling "disingenuous," "flawed." "For anyone to represent that someone drilling off the coast in Florida is going to lower gas prices here or anywhere in this country is disingenuous and a flawed argument,'' he said. "Oil drilling could take 10 years before any oil is pulled out of the ground, and there are a large number of leases held by oil companies that are not being exploited now. We can't say we need more until we've exploited those.'' [Miami Herald, 6/18/08] "Drilling off the Florida coast is not going to change gas prices in Florida while Charlie Crist is governor, even if he's re-elected," House Speaker Marco Rubio said in an interview... "I agree with the concept... But to tell people your gas prices are going to go down next year if we do this is just not being honest." [Palm Beach Post, 6/18/08]
Incoming GOP Speaker Also Against Bush-McCain-Crist Plan. "[Rep. Ray] Sansom, a Destin Republican and former commissioner for the coastal Okaloosa County, said he wasn't ready to support drilling in order to lower gas prices..."Me personally, I'm not one to change my mind quickly based on comments that are made..." Sansom said. "Historically, I've always been opposed to drilling in state waters, so I still have those concerns for our environment and our natural beauty. A big part of our economy is the natural beauty of our state...We have to reduce our dependency on foreign oil..." [Palm Beach Post, 6/18/08]
Bush Administration, Department of Energy: Effect of Offshore Drilling on prices "insignificant." The Department of Energy's Annual Energy Outlook 2007, prepared last February by the Energy Information Administration, an independent statistical and analytical agency within DOE found: "The projections in the OCS access case indicate that access to the Pacific, Atlantic, and eastern Gulf regions would not have a significant impact on domestic crude oil and natural gas production or prices before 2030... Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant." [Department of Energy's Annual Energy Outlook 2007
McCain Adviser Holtz-Eakin Admitted That Increasing Domestic Oil Production Would Have No Immediate Impact On Gas Prices. According to the Los Angeles Times, McCain's senior policy adviser Douglas Holtz-Eakin told reporters on a conference call that, "'allowing new offshore drilling would have no immediate impact on supplies or gas prices.' But, he said, 'there is an important element in signaling to world oil markets that we are serious.'" [Los Angeles Times, 6/18/2008]
McCain Denied Short-Term Impact of Offshore Drilling Three Weeks Ago. John McCain on impact of offshore drilling: "[W]ith those resources, which would take years to develop, you would only postpone or temporarily relieve our dependency on fossil fuels." [McCain Town Hall, Greensdale, WI, 5/29/08]
