Apr

The President Rips Democrats on Energy and Housing Crisis, and Everything

On energy, there is the Democratic solution- a return to the living standards of the 19th century and on the housing crisis, blame the Republicans, but do nothing.

Yesterday, Bush laid into the Democrats. Bush lays out the problems. The Democrats block increased oil production domestically, the block the building of new refineries, and they block the building of nuclear power plants.

Americans are concerned about energy prices, and I can understand why. I think the last time I visited with you it was like — I said it was like a tax increase on the working people. The past 18 months, gas prices have gone up by $1.40 per gallon. Electricity prices for small business and families are rising, as well.

I’ve repeatedly submitted proposals to help address these problems. Yet time after time, Congress chose to block them. One of the main reasons for high gas prices is that global oil production is not keeping up with growing demand. Members of Congress have been vocal about foreign governments increasing their oil production; yet Congress has been just as vocal in opposition to efforts to expand our production here at home.

They repeatedly blocked environmentally safe exploration in ANWR. The Department of Energy estimates that ANWR could allow America to produce about a million additional barrels of oil every day, which translates to about 27 millions of gallons of gasoline and diesel every day. That would be about a 20-percent increase of oil — crude oil production over U.S. levels, and it would likely mean lower gas prices. And yet such efforts to explore in ANWR have been consistently blocked.

Another reason for high gas prices is the lack of refining capacity. It’s been more than 30 years since America built its last new refinery. Yet in this area, too, Congress has repeatedly blocked efforts to expand capacity and build more refineries.

As electricity prices rise, Congress continues to block provisions needed to increase domestic electricity production by expanding the use of clean, safe nuclear power. Instead, many of the same people in Congress who complain about high energy costs support legislation that would make energy even more expensive for our consumers and small businesses.

And in a stroke of genius, Bush points out that not only do the Democrats make energy more expensive, they want to tax it, making everything more expensive!

Congress is considering bills to raise taxes on domestic energy production, impose new and costly mandates on producers, and demand dramatic emissions cuts that would shut down coal plants, and increase reliance on expensive natural gas. That would drive up prices even further. The cost of these actions would be passed on to consumers in the form of even higher prices at the pump and even bigger electric bills.

Instead of increasing costs and increasing new roadblocks to domestic energy production, Congress needs to clear away obstacles to more affordable, more reliable energy here at home.

On the housing crisis, Bush had proposed a common sense move, allowing those with sub-prime loans variable rate loans to move into fixed rate loans (which the banks ought to be doing themselves, but greed gets in their way).

Americans are concerned about making their mortgage payments and keeping their homes, and I don’t blame them. Last year I called on Congress to pass legislation that would help address problems in the housing market. This includes critical legislation that would modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans. Yet they failed to send a single one of these proposals to my desk. Americans should not have to wait any longer for their elected officials to pass legislation to help more families stay in their homes.

The best line of his news conference, was undoubtedly this:

Somehow if you mention ANWR it means you don’t care about the environment. Well, I’m hoping now people, when they say “ANWR,” means you don’t care about the gasoline prices that people are paying.

Technorati Tags: Democrats, do nothing