Herman Cain on Energy & Oil
Republican Businessman & Talk-Show Host; 2011 GOP frontrunner
Because they have perpetuated such a myth, liberals have forced excessive environmental regulations that have stifled our domestic energy production, and instead, forced American consumers to rely far too heavily upon foreign oil. In many cases, this oil comes from Middle Eastern countries, some of whom are not friendly to the US, who end up dictating the prices of our energy consumption. In return, Americans have seen no improvements in our environment or in the cleanliness of our air. We must expand our domestic energy resources by loosening government's grip responsibly.
A: Contrary to what Pres. Obama said, when he stated there's wasn't anything we can do in the short term. He can establish a real energy independence plan. We have all of the resources we need in this country to establish energy independence if we had the leadership. The dynamics that impact the price of oil--and ultimately the price of gasoline: Getting it out of the ground; refining and distribution; and speculators. If the world market believed that we were serious about energy independence, and we were going to utilize all of our existing resources, the speculators would stop speculating up, and they would speculate down until we got our own oil out of the ground.
With all due respect, Mr. President, there is something you could do to ease the pain at the pump. Namely, declare and implement a "drill here drill now" strategy. And remove the ridiculous restrictions on shale oil deposits available out west.
The very speculators you are blaming for the run-up in gas prices would quickly retreat if they thought you were serious about an energy independence plan to maximize all of our existing natural resources. The problem is supply and demand, and expectations about the changes in those dynamics. That's what drives gasoline prices at the pump.
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