Saudi FM underscores need to find radical solutions to humanitarian crises "172 countries benefit from Saudi humanitarian aid worth over $133 billion"    Saudi Arabia, Indonesia strengthen health cooperation with new agreements    MoH stresses necessity of taking meningitis vaccine before performing Umrah during Ramadan    Saudi Central Bank introduces new rules for use of the riyal symbol    Proofpoint strengthens its presence in Saudi Arabia to enhance cybersecurity resilience: CEO    Saudi-Jordan trade hits $21.56bn over 5 years    Minister of commerce approves actual beneficiary rules Erring companies to be slapped with a maximum fine of SR500,000    Recent survey reveals 97% of GCC households use fragrance to create Happier Homes    Ursula von der Leyen arrives in Kyiv with €3.5 billion in fresh financial aid    New German leader signals seismic shift in transatlantic relations    Fear of being forgotten    Syria plans to erase Queen Zenobia from history books    British couple in their 70s arrested by Taliban    Saudi U-20 team secures spot in 2025 FIFA U-20 World Cup with last-minute winner over China    Bergwijn, Benzema lead Al-Ittihad to dominant 4-1 Clasico win over Al-Hilal    Al-Ettifaq stuns Al-Nassr with late winner as Ronaldo protests refereeing decisions    'Neighbors' canceled again, two years after revival    Proper diet and healthy eating key to enjoying Ramadan fast    Saudi Media Forum panel highlights Kingdom's vision beyond 2034 World Cup    AlUla Arts Festival 2025 wraps up with a vibrant closing weekend    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Congress' tank empty on energy help
Published in The Saudi Gazette on 02 - 08 - 2008

In a summer of nationwide anguish over fuel costs, Congress' attack on soaring gasoline prices has been full of high-octane rhetoric and low-energy results.
Both parties instead have fought bitterly for weeks over who can make the best political points for the November elections, with Republicans pressing for more domestic oil drilling and Democrats railing about oil company profits.
Despite hundreds of hours of House and Senate floor debate over the country's energy problems, lawmakers will leave Washington for their five-week summer hiatus this week with an empty tank.
Congress' sole legislative response to people's anger over $4 gas and expectations of record heating costs this winter has been to stop a small amount of oil from being shipped into the government's emergency reserve. The shipments ended, but oil and gasoline prices continued to rise.
Through the year, dozens of proposals surfaced and then fell by the wayside under partisan assaults.
Among them were measures to make energy price gouging a federal crime, to curb oil market speculation, to extend tax credits for wind and solar energy projects, to tax the windfall profits of the largest oil companies, to subject the OPEC oil cartel to US antitrust laws, to release oil from the government emergency stockpile and to spur nuclear energy development and the use of coal as a motor fuel.
Many of the proposals were offered by Democrats; others came from Republicans.
All have gone nowhere.
One energy issue has overshadowed the others: Congress has been in gridlock because of sharp disagreement between Democrats and Republicans over whether to open the coastal waters of the Atlantic and Pacific to oil and gas drilling.
For the third time in three days, President Bush on Thursday called on lawmakers to lift offshore drilling bans.
“If you want to take pressure off price, we ought to be sending a signal that the United States is going to find oil right here in our own hemisphere,” he told a West Virginia Coal Association meeting.
On Capitol Hill, there seemed to be no interest in compromise.
Instead, Republicans saw the call for more domestic drilling as political gold. They're hoping to use it as a way to outflank Democrats in an election year when voters are looking to Washington for answers to high gasoline and other energy costs.
“They're like a dog with a bone and they're not letting go,” said one Democrat about the incessant GOP push for offshore oil development.
Democrats know well that opinion polls show the public, reeling under high gasoline prices, favors more domestic energy development. So they've countered with their own drilling message.
“Democrats are for drilling,” House Majority leader Steny Hoyer of Maryland insisted this week, repeating the assertion several times for emphasis. “We're not necessarily for drilling where they (Republicans) want to drill.” The Democrats argue oil companies already have 68 million acres (27.5 million hectares) of federal land and offshore waters available under government leases that they could pursue.
With the public showing little sympathy for oil companies, congressional Democrats have targeted oil companies' profits, hoping to take some of the attention away from the GOP assault over offshore drilling.
That argument was given a boost this week with another round of huge oil industry profit announcements. Exxon Mobil Corp. said Thursday it earned $11.68 billion in the second quarter, the most ever by the US corporation.
“The top five oil companies are now on track to hit $160 billion in profits for the year,” said Rep. Edward Markey, a Democrat from Massachusetts, releasing a report that showed much of those profits are used to buy back stock and not invest in new production.
But Democratic proposals to tax windfall profits of the five largest oil companies and repeal some of their tax breaks also have gone nowhere, ending in more partisan fights, GOP filibusters and a promise of a presidential veto from the White House.
“My Republican colleagues are buying the line of Big Oil,” Senate Majority Leader Harry Reid of Nevada complained this week.
“Surely Americans are tired of Republicans delaying and rejecting every effort Democrats make to solve our nation's (energy) problems,” said Reid as it became increasingly certain that Congress was punting on energy - at least until fall.
Senate Republican leader Mitch McConnell of Kentucky said energy is “the No. 1 issue” facing the country and that “the American people are clamoring for legislation that will bring down the price of gas.” It's an assertion Democrats would not challenge. But that doesn't mean the two parties were any closer to agreeing what to do about it.
“We need to come together in a bipartisan approach,” Nevada Republican Sen. John Ensign said on the Senate floor. “It's time to act. It's time to stop playing politics.” As lawmakers pushed to leave town - in many cases to face angry voters on the campaign trail - there was little reason to think that will happen. – AP __


Clic here to read the story from its source.