Snow: Economy improving (BTW - let's drill in ANWR!)

[kysrsoze]

HOLLYWOOD, Fla. (Reuters) - Economic activity is gathering steam, but excessive reliance on imported oil poses a threat not only to growth but also to national security, Treasury Secretary John Snow is set to warn Friday.

Government officials who previewed Snow's address to the Maritime Trades Department, which represents U.S. shipping interests, said he was urging that it was time to look again at letting oil companies drill in the Arctic National Wildlife Refuge (ANWR).

A similar proposal was thwarted by Democrats in the Senate last year for fear it would cause environmental damage. However, rising imported oil prices that are expected to keep U.S. gasoline prices up this summer could make energy security a potential issue for November's presidential elections.

"Through greater access to reliable and dependable U.S. energy supplies like ANWR we lessen our dependence on supplies from other, less secure, parts of the world," Snow said. "We make ourselves less dependent on those uncertain supplies from places where tensions run high and where disruption is always possible."

Snow's remarks named no countries, but recent reports have cited concern about the extent of long-term oil reserves in key producer Saudi Arabia.


http://money.cnn.com/2004/03/05/news/economy/snow.reut/index.htm

What an ass. Nice spin to make ANWR drilling sound good.

[Kathy in Cambridge]

1. How come only 21,000 jobs were created last month?

:shrug:

[kysrsoze]

2. They're supposedly govt jobs - Bush campaign staff?

He he.

[papau]

8. Nope - Bush revised down Dec by 8000, Jan by 15000 -& gets new jobs in Feb

I do love math!

[Athame]

3. Environmental concerns are out the window

as soon as awareness of Peak Oil reaches the general public. Snow is greasing the skids.

[nagbacal]

4. Purple asteroids

Should get interesting when PPI figures are finally released. Are they not close to one month overdue by now?

[newyawker99]

22. Hi nagbacal!!

Welcome to DU!! :toast:

[Gasolinedream]

5. I still thought there..

was only about 6 months to a year's worth of oil in ANWR? If so, how is that going to help us? ALso, it will take years to get to it, right? How does this make any sense even if you disregard the Environmental Impact?

[toopers]

6. What is the environmental impact?

Have not read a report yet.

Thanks - Toop

[lovedems]

7. Those were my thoughts when I read the post.

It won't help us for long yet the damage done to the environment and ANWR will last generations. It is not a solution to our problem and I wish like hell they would quit pushing for it! It is a temporary money maker for the administrations oil friends and nothing more.

[bullimiami]

10. Too many jobs created

thats the problem. RIIIIGHHHHHHTTT......

why spin it half assed when you can really go for it?

[lovedems]

11. ??????

Could you please elaborate?

[ramapo]

18. Alaskan jobs

He said drilling in ANWR will create jobs. Maybe all the out-of-work programmers can head up north for a new career.

[mhr]

9. Six Months To Two Years Worth Of Oil - Yes That's All We Get From ANWR

But when you are a greedy republican politician paying back your donor base facts don't matter.

[hatrack]

13. USGS estimates there's a 5% chance of as much as 15 billion barrels

Any field or fields in the refuge are much more likely to contain between 3 and 5 bbl.

This isn't much compared with Prudhoe Bay, which totaled about 25 billion, or Ghawar in S.A., which at the time of its discovery in the late 1940s probably contained about 87 billion barrels - about one-eighth of the world's proven reserves.

It's not much oil and it's expensive as hell to develop.

[benfranklin1776]

12. Uh Gee there Snowjob how about improving energy efficiency instead?

...and reducing consumption. No chance of that since Uncle Dick has derided conservation as a mere "personal virtue" http://www.consortiumnews.com/2001/051501a.html and not policy, and this adminstration consistently opposes efforts to increase fuel efficiency standards. They are fossilized, fossil fuel slaves.

[AndyTiedye]

17. and gives Tax Credits for Hummers instead of for Conservation

:mad:

[Festivito]

21. YES, if needed that much, lower CAFE. Tax break alts.

If we need more gas for our country, then,
Car CAFE standards should be lowered.
Trucks should be included, especially SUVs, (maybe CAFET).
Tax breaks should be given for home solar, wind, and hydrogen alternative sources to add to the power grid.

THEN, WE CAN TALK ABOUT RUINING WHAT WE CANNOT PUT BACK. (ANWR)

[cosmicdot]

14. quite a caveat and/or asterisk/CYA

* excessive reliance on imported oil poses a threat not only to growth but also to national security

watch out, Mr. Snow, wouldn't want any common sense seeping into practical applications

[MikeG]

15. You know their solution - more tax cuts for the rich.

[wellst0nev0ter]

16. "Take Two Tax Cuts And Call Me In The Morning."

[The_Casual_Observer]

19. ANWAR is the last of the promises smirk made

to his contributors. His handlers are very focused on making smirk keep his promises. The WH will drag this one along to the bitter end.

Recall that smirk started talking up the recession back in 2000 in an effort to drum up support for the tax cuts. He continues to play on the misfortunes of the middle class to push though every possible kind of corporate welfare deal.

[Mandomaniac]

20. Man I hate this administration

Yes, using MORE oil is the way to reduce our dependence on foreign oil. Idiots.

The easiest way to reduce dependence is conservation. But, that's too obvious. Oh yea, and it doesnt put enough $$$ in Bush's pockets. Duh, what was I thinking?


:grr:

Nothing pisses me off more than the blatant environmental disregards of this pResident's admin.