John McCain and Bush's Off-Shore Drilling Plan Off The Mark Another No Good, Very Bad Week For McCain

June 20, 2008 -- This week John McCain reversed himself again, announcing that he now supports lifting the moratorium on off-shore drilling despite previously opposing such a plan to reverse decades of U.S. policy. McCain and President Bush stood behind the plan even though it does nothing to address current gas prices, it would take years to see a drop of oil from these leases, and oil industry execs already have thousands of untapped leases at their disposal.

The oil industry, which stands to benefit most, praised McCain's reversal but industry experts agree that this move, just like his gas tax holiday, is nothing more than a Washington gimmick that would do little to solve our real energy crisis. With gas prices continuing to sky-rocket, Americans have made clear they are looking for a president with a plan that works for them, not big oil.

Below are a selection of articles showing McCain's no good very bad week on off-shore drilling:

Bush Administration Admits the Impact of McCain's Plan On Oil Prices Would Be Insignificant. "As many reports have noted, the McCain/Bush policy on offshore drilling doesn't make sense as a response to $4-a-gallon gas: the White House's own Energy Information Administration says that exploiting the outer shelf wouldn't yield noticeable amounts of oil until the 2020s, and even at peak production its impact on oil prices would be 'insignificant.'" [Paul Krugman column, New York Times, 6/20/08]

Bush and McCain In Lockstep. "Republican John McCain is trying to appeal to independent voters by saying he's no President Bush…And yet, the president and McCain are marching in lockstep on how to deal with $4 a gallon gas. They're demanding Democrats end the federal ban on off-shore drilling, claiming it could lead to a drop in oil prices, given the expectation of increased supply." [CNN, 6/19/08]

Former McCain Advisor Says Plan Won't Make Oil Cheap. "Bush says he'll drop the executive order if Congress first lifts its 26-year-old ban. But even if lawmakers acted tomorrow, it would be years before the infrastructure could be put in place to support additional drilling…What sounds so simple in theory--opening offshore areas to increase oil production for the energy-price-shocked U.S. populace--turns out to be incredibly complex. And to top it all off, the plan can't resolve the supply and demand problem that is at the core of the run-up in fuel prices. Anthony Cordesman, an energy expert at the Center for Strategic and International Studies and a former national security assistant to McCain, says trying to solve the problem by focusing on supply or demand won't help the U.S. achieve energy independence. And it won't make oil cheap. 'It may just make it less expensive,' he says." [Forbes, 6/18/08]

Environmental Groups Slam McCain's Proposal. "'Drilling in protected areas offshore won't solve our energy needs in the short term and in the long term will increase the threat of global warming,' said Gene Karpinski, president of the nonpartisan League of Conservation Voters. Carl Pope, executive director of the Sierra Club, also slammed the proposal. 'Rather than offering consumers real relief from skyrocketing energy prices, Sen. McCain's plan would merely pad Big Oil's bottom line while putting thousands of miles of pristine beaches and coastline at risk,' he said." [Los Angeles Times, 6/18/08]

McCain's Plan Not Straight Talk. "This is exactly the sort of nonsense that McCain the maverick used to delight in debunking. The straight talker who first charmed Michigan independents back in 2000 understood that the disparity between this country's 25% share of world oil consumption and its 3% share of world oil reserves limited America's capacity to depress prices by increasing domestic production. And even the pandering McCain of 2008 must have read the federal Energy Information Administration's conclusion that ending the ban on offshore drilling 'would not have a significant impact on domestic crude oil and natural gas production or prices [emphasis mine] until 2030…'"[Detroit Free Press Column, 6/20/08]

Environmentalists, State Officials At Odds With McCain Over Plan. "The proposal could put McCain at odds with environmentalists who say it is incongruous with his plans to combat global warning. California Gov. Arnold Schwarzenegger, a McCain ally, opposes offshore drilling. Many officials from coastal states oppose offshore drilling because of the risk of oil spills. Environmentalists want offshore drilling to stop to protect oceans and beaches from further pollution." [CNN.com, 6/17/08]

Florida Paper Says McCain Is "Misleading Voters" Over Plan. "Sen. John McCain's reversal of his position on offshore oil drilling diminishes his reputation as a straight-talking maverick. On this issue, he is offering a false promise of quick fixes to today's high gas prices…So the claim that the nation would be floating in oil were it not for environmental restraints is a myth. Moreover, opening up all these new areas to drilling has done nothing to lower gas prices, which have been driven up by world demand and commodities speculation…McCain, who prides himself on being brutally honest, is misleading voters by suggesting ending the moratorium will save them money or ease the nation's energy needs." [Tampa Tribune Editorial, 6/19/08]

Who Approves of McCain's Plan? The Oil Industry. "The oil industry generally approved Tuesday as Republican presidential candidate John McCain charted his policies on energy with a speech in Houston that jabbed the Bush administration, Democratic foe Barack Obama, Wall Street and oil-rich foreign regimes…But Rayola Dougher, senior economic adviser for the American Petroleum Institute, the U.S. oil and gas industry's trade group, said approvingly of the candidate's speech, "We need policies for the short term and the longer term. Any policy that would encourage more supply will have an impact." [Houston Chronicle, 6/18/08]

Source: DNC