Gingrich presents three ways to lower gas prices
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With fuel prices skyrocketing worldwide, everyone is clamoring for a solution. So, who better to turn to for a conservation plan than a leading Conservative? Newt Gingrich, the former Speaker of the House, presents a three-part plan that entails tapping into the Strategic Oil Reserves, the deregulation of offshore oil drilling, and investment in alternative fuel technologies. According to our old pal Newt, "What you've got to have is a rational plan that says: Here's how you punish the speculators this morning, here's how you produce more energy in the near future, and here's how you have breakouts that are fundamental."
Gingrich might not have the clout in the green community that his rival Al Gore enjoys, but does that mean he doesn't have a point? Follow the jump to watch the video of his speech and leave your thoughts in the comments section below (just keep it civilized).
[Source: American Solutions via The Auto Channel]
Reader Comments (Page 1 of 2)
Sean 1:03PM (6/25/2008)
Sounds good to me. As far as the flex-fuel thing, why can't they just mandate that ALL new gas-powered vehicles produced are flex-fuel capable and get the issue off the friggin' table already?!
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Nick 1:02PM (6/25/2008)
And once the strategic reserve is gone, oil-producing countries that don't like us (Iran, Venezuela, etc) can lower production until we're paying $300/barrel.
Brilliant!
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Sean 1:05PM (6/25/2008)
@ Nick: He said 1/3, not all of it. (Especially since it's near capacity now anyway.) Again, the idea is to punish speculators to get them out of the price equation.
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justin 1:06PM (6/25/2008)
No argument here.
Alleviate the pain now & midterm, while implementing long-term solutions.
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tchamp 2:14PM (6/25/2008)
Ok, You may think the is an oxymoron, but I'm a conservative environmentalist. I recycle, and I'm chomping at the bit to buy an electric car.
Newt makes some excellent points. He mentions that there is an electricity surplus at night. What he says to do with it is produce hydrogen using electrolysis. What he leaves out is much simpler, which is charging a "regular" battery electric vehicles at night.
I also strongly support going after the oil that the US has access to. There's a huge oil field in the western part of North/South Dakota that we could go for, there's plenty in the oceans, there's the field in the Rockies that Newt mentioned. We have plenty of oil right here in the US. Lets get it!
Lets also get some electric cars to market! Why don't we take the ethanol subsidies away (scary since I live in a farm state - Iowa), and turn those into EV subsidies instead? We could get going on electric if we wanted. Lets do it!
By the way, the other thing that Iowa produces, besides corn and soy beans, is tons of wind energy. There's a huge wind farm in southern Wright county (Iowa) that is intermixed with the corn/bean farms. We make lots of wind energy here in Iowa
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Jim Villano 1:21PM (6/25/2008)
I often disagree with Newt, but the Republicans are in trouble because they drifted far from the conservative ideals Newt espouses. His suggestions offer near-term help while we work on long term solutions. Much more reasonable than Obama's gas tax rebate plan (tax gasoline to reduce consumption and then pass some of the money back to lower income consumers - just another Democratic/Socialist tax plan to tax the rich, give some to the poor and government gets a cut off the top).
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bjd002004 1:45PM (6/25/2008)
Can anyone please identify where Newt was when he made this speech and what was the date? I can't find it anywhere.
-BJD
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Serge 1:52PM (6/25/2008)
Why do the "speculators" need to be "punished"? Why not exclude speculators from commodities markets all together via regulatory means?
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goehring 2:02PM (6/25/2008)
Anyone who thinks drilling in the US will lower prices is, unfortunately, mistaken.
OPEC will just shut down a well for every one we drill until we are totally dry.
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Rick 2:38PM (6/25/2008)
@6. At least a Democratic plan involves the poor at all and taxes the rich at least some. Much better than the alterantive party's approach.
These ideas sound interesting.
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Tim 2:25PM (6/25/2008)
It’s a diversion. They’ll talk about anything but going back to a Constitutional honest money system based on gold & silver.
Compare Oil Vs Gold and there has been NO price increase.
Want proof?
http://www.gold-eagle.com/editorials_00/wanniski061900.html
The NeoCon and Democratic-Socialist tools of the Federal Reserve will NEVER talk about eliminating the Fed which has CAUSED commodity prices to soar by hyper inflating the Fiat US $Dollar.
Want proof?
http://www.kwaves.com/fiat.htm
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Bob L. 2:57PM (6/25/2008)
OMG another Environmental Conservative! Well there is at least two of us! Newt has some great ideas. It's too bad he comes off (to the ignorant) as not being likable.
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Bob 3:02PM (6/25/2008)
Regardless of your political leanings, common sense should be bipartisan; and this is just plain common sense. Something immediate, something short-term and something long-term. Something for everyone, and each offers an incremental reduction in prices at the pump!
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OhmExcited 3:10PM (6/25/2008)
Drilling won't solve our problems, but it certainl has more promise than the corn ethanol loved by midwest politicians.
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rj 3:47PM (6/25/2008)
I think gas prices are fine. We've just got accustomed to super low prices for too long. Also, I would think the idea of a reserve would be emergency use only - as in keep the military and basic services running when fuel is not available due to terrorism or natural disaster.
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Bobby 4:08PM (6/25/2008)
I'm sure Democrats everywhere are blasting this plan because its "too rational" and "in no way punishes oil companies".
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nsfwh 4:10PM (6/25/2008)
Reality Check;
Those (who for the last 35 years) who are in the position to do anything about gas prices are those who could pay $50.00 per gallon and not blink an eye... Gee what a coincidence!
Greed and human nature; only real leadership can overcome them and therein lies the problem...
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Bobby 4:13PM (6/25/2008)
Also, there's a reason Newt doesn't have the clout with the green crowd that Al Gore does. I think its because he fails to espouse the "let's all just stop using electricity" policy that Al so desperately wants to implement.
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Wave54 4:23PM (6/25/2008)
* I think its because he fails to espouse the "let's all just stop using electricity" policy that Al so desperately wants to implement. *
Oh, the Al Gore that uses 20 times the national average and nearly 100 times what I use? And then we've got Streisand advising housewives to hang their clothes outside to dry. Puhleez...
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/2153179/Al-Gore's-electricity-bill-goes-through-the-(insulated)-roof.html
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MikeW 5:14PM (6/25/2008)
Get rid of Pelosi!
Then we impeach president Cheney and Bush [that is the correct power structure]
We investigate the 911 inside job, arrest the treasonous bastards, give them due process, then we send them to jail or the chair.
Dissolve the current 'supreme court', and reconstitute a legitimate body that preserves, protects, defends the Constitution.
Develop & execute a plan to phase out the 'federal reserve' in 100 weeks.
We apologize to the world for the Cheney/Bush regime.
We expose the AGW myth to the world, and the artificial scarcity being promoted as 'peak oil' [regardless of deep oil/fossil fuel]
That is what we do.
There is probably plenty of oil in the 50 States.
http://www.youtube.com/watch?v=VHkb5IEPJgs
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