Pelosi receptive to considering more drilling

Seems San Fran Nan is turning her back on the tree huggers and enviro wackos. This will not play well with her kook base


Pelosi receptive to considering more drilling

By DINA CAPPIELLO, Associated Press Writer
36 minutes ago



WASHINGTON - Democrats' stance against offshore drilling has shifted more, with House Speaker Nancy Pelosi signaling on Saturday her willingness to consider opening up more coastal areas to oil and gas exploration.

In her party's weekly radio address, Pelosi said opening portions of the Outer Continental Shelf for drilling would be a part of energy legislation that House Democrats intend to put forward in the coming weeks to address oil dependence and high gasoline prices.

Lawmakers will be able to "consider opening portions of the Outer Continental Shelf for drilling, with appropriate safeguards, and without taxpayer subsidies to Big Oil," said Pelosi, D-Calif.

Just weeks ago Pelosi seemed resolved to block any votes to allow offshore drilling, in part because Californians have opposed drilling off their coasts since an oil spill off Santa Barbara in 1969. New oil drilling is only allowed now in federal waters in the western Gulf of Mexico and off Alaska.

Pelosi's radio remarks were the latest to hint that the energy debate in Congress is still evolving, and that Democrats are budging on the issue.

Congress left for the August recess deadlocked over how to address $4-a-gallon gasoline. Democratic proposals to tap the nation's petroleum reserve, curb oil speculation and force oil companies to drill on already leased federal lands were blocked by Republicans trying to force votes on offshore drilling.

Yet any vote on drilling is likely to force the Republicans' hand, since it will likely be packaged with unpopular proposals to tap the petroleum reserve and recoup unpaid royalties from the late 1990s to pay for renewable energy projects.

"This comprehensive Democratic approach will ensure energy independence which is essential to our national security, will create millions of good paying jobs here at home in a new green economy, and will take major steps forward in addressing the global climate crisis," said Pelosi, who criticized Republicans' "drill only" plan.

Republican leaders called Pelosi's proposal a ruse.

She "is deliberately misrepresenting the facts about our plan in order to shift attention away from the Democrats' shameful record," said House Republican leader John Boehner of Ohio. "Her new effort appears to be just another flawed plan that will do little to lower gas prices." Boehner and more than 100 House Republicans refused to depart for the summer recess in protest of Democrats' refusal to have a vote on their proposals.

The pressure to expand offshore drilling intensified last month when President Bush lifted an executive prohibition on drilling for oil and gas on the Outer Continental Shelf. A congressional ban remains in place.

Polls have shown that voters have grown more supportive of more domestic oil production as fuel prices have climbed.

http://news.yahoo.com/s/ap/20080816/ap_on_go_co/democrats_energy

Now we see San Fran Nan will allow drilling only if taxes are increased

This bill is DOA



Democrats to offer bill with offshore oil drilling

By Tom Doggett
Sat Aug 16, 11:11 AM ET

WASHINGTON (Reuters) - House Speaker Nancy Pelosi said on Saturday when the U.S. Congress returns next month from its summer recess, Democrats will offer legislation that could give oil companies drilling access to more offshore areas.

By moving to open additional federal waters to energy exploration, Democrats could narrow the differences they have with Republicans on tackling America's energy problems, a concern that ranks high with voters heading into the November presidential and congressional elections.

Democratic presidential candidate Barack Obama has changed his position and said he would be willing to consider new offshore drilling if it allowed comprehensive energy legislation to pass. His Republican challenger, John McCain, also switched his position and has called for opening most U.S. waters to drilling if the affected states agree.

In the Democrats' weekly radio address, Pelosi of California said expanding drilling areas would be part of a broader bill which addresses other energy issues.

"It will consider opening portions of the (offshore) Outer Continental Shelf for drilling, with appropriate safeguards, and without taxpayer subsidies to Big Oil," she said.

Pelosi said the legislation would require oil companies to pay billions of dollars in drilling royalties, which would be invested in clean energy resources.

http://news.yahoo.com/s/nm/20080816/pl_nm/usa_democrats_oil_dc;_ylt=AjuUQSl55OH7cj8yPEvLLb.MwfIE

Don't they pay royalties now?

Southern Man wrote:Don't they pay royalties now?

Yes. I gathered from the article she wants to raise them, which is the same as a tax increase

Rememebr, Exxon paid over $30 billion in taxes in the second quarter

Sure they pay corporate income tax, and collect and pay sales taxes. Income taxes should be as low as possible, but definitely no more than any other industry. Sales taxes should pay for roads and no more. Royalties should be reasonable and used to offset associated government costs, such as Coast Guard, emergency response, etc. IMHO of course.

Southern Man wrote:Sure they pay corporate income tax, and collect and pay sales taxes. Income taxes should be as low as possible, but definitely no more than any other industry. Sales taxes should pay for roads and no more. Royalties should be reasonable and used to offset associated government costs, such as Coast Guard, emergency response, etc. IMHO of course.

ccording to CNN, Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.
That profit works out to $1,485.55 a second.


Buried in the story we also find that "In addition to making hefty profits, Exxon also had a hefty tax bill. Worldwide, the company paid $10.5 billion in income taxes in the second quarter, $9.5 billion in sales taxes, and over $12 billion in what it called 'other taxes.'"


MP: In other words, Exxon Mobil paid $32.361 billion in taxes in the second quarter, which works out to $4,114 in taxes per second. Another way to look at it - Exxon paid almost $3 in taxes ($32.361 billion) for every $1 in profits ($11.68 billion)


http://www.istockanalyst.com/article/viewarticle+articleid_2459357&title=Exxon_Posts_Record.html