In an exclusive Fresh Dialogues interview, CNN's senior legal analyst Jeffrey Toobin gave some insight into Obama's new offshore drilling plans, a policy reversal that caused both outrage and bemusement. Instead of Obama simply embracing a "drill baby drill" stance, Toobin suggests, "there may be some larger game at work."
The legal expert and best-selling author of two of the most high profile political controversies: Too Close to Call (the Bush-Gore Presidential Recount) and A Vast Conspiracy (the Clinton-Lewinsky Affair), is well qualified to provide some unique analysis of Obama's latest political strategy.
Toobin also opined on Obama's support of the EPA's plans to regulate greenhouse gases as pollutants; a possible Plan B strategy to curb global warming if progress on climate legislation fails to progress in Congress.
Will Obama's supposed, "drill baby, drill" strategy be replaced by "regulate baby, regulate" in 2011 as Newsweek's Daniel Stone predicts?
On the Obama Offshore Oil Drilling Announcement
"It's a bit peculiar frankly...it seems on one level that he's negotiating with himself...conceding something to the pro-development forces before the negotiations have really begun in earnest...but there may be some larger political game at work...that this shows how accommodating he is... " Jeffrey Toobin
On the Republican Reaction
"Gestures of good faith to Republicans have generally been met over the last year and a half with non responsive actions." Jeffrey Toobin
On the EPA Regulating Greenhouse Gases as Pollutants
"That's a campaign promise that Obama appears to be keeping...they have already started the process." Jeffrey Toobin
The interview took place on April 1st, just before Toobin's appearance at Foothill College's Celebrity Forum.
For more exclusive interviews on energy policy and the environment, check out the Fresh Dialogues Channel and join the conversation.
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A couple of additional pluses:
Currently Hydrocarbon based fuels are the best bang for the buck, best btu/kg/$$. There are several technologies in the wings that within 10 to 20 years that will replace hydrocarbon. Once this cheaper technology is in place the value of hydrocarbon will drop dramatically.
The US has a lot of HC’s in the ground. The US also has a big debt. The smart thing to do will be to get more HC’s out of the ground and on the world market while it is so valuable. The US needs to become a net HC energy exporter and subsidize our domestic industries cost of power. Just these two changes can be started with the stroke of the pen, turn Americans loose to do what they do best and every bodies standard of living goes up.
“A Balance of payments (BOP) sheet is an accounting record of all monetary transactions between a country and the rest of the world. These transactions include payments for the country's exports and imports of goods, services, and financial capital, as well as financial transfers. The BOP summarises international transactions for a specific period, usually a year, and is prepared in a single currency, typically the domestic currency for the country concerned. Sources of funds for a nation, such as exports or the receipts of loans and investments, are recorded as positive or surplus items. Uses of funds, such as for imports or to invest in foreign countries, are recorded as a negative or deficit item.â€
“When all components of the BOP sheet are included it must balance - that is, it must sum to zero - there can be no overall surplus or deficit. For example, if a country is importing more than it exports, its trade balance will be in deficit, but the shortfall will have to be counter balanced in other ways - such as by funds earned from its foreign investments, by running down reserves or by receiving loans from other countries.â€
http://en.wikipedia.org/wiki/Balance_of_payments
Every barrel of oil we get here is 80-150 dollars we don’t have to borrow from China to import oil. Obama is going to use this money for green energy!
Why would any logical person oppose drilling to get energy in America?
The typical answers here are, “we need to use less oil not more†or “burning oil is bad for the environmentâ€.
Well no argument there, but I challenge anyone to explain how stopping drilling in the US accomplishes either of those goals.
If the US was an isolated country (no exports or imports), then you could make a reasonable argument that opposing drilling would lead to less petroleum use in America.
But we do not live in an isolated country. When you stop Americans from getting US oil, you do not change in any way how much petroleum we use.
You only increase imports of oil.
That increases how much money we send abroad to countries we do not like.
That exports both our money and our JOBS!
That is the only effect of stopping drilling here, it makes us poorer, we have less money for green energy or health care or education or anything else, and if you don’t believe that, google “balance of paymentsâ€.
As long as we are importing ANY oil it makes no economic sense to not use American energy. Most people realize this simple economic truth and they are mad about it.