China and Cuba drilling for oil off Florida’s coast. The Democrats say the U.S. can’t.

Mick Gregory

The Republicans have hit a political gusher. The Democrat/socialists hiding under the friendly Green flag of environmentalism are being exposed today. I predict the Democrats will vote against the issue of drilling off U.S. coasts.

This while Cuba and China begin drilling off the Florida/Cuba shore. They will have their straw in our oil reserve milkshake.

Next, I predict, President Bush will issue an Executive Order opening up drilling.

The coastal reserves are estimated to be 18 billion barrels from 20-year-old studies. That is the short estimate equal to the amount of oil the U.S. would produce in almost 10 years (that’s 3,600 days producing 5 million barrels per day). The coastal reserves are also nearly equal to what some experts believe can be recovered at Anwar Reserve in Alaska. The reserve that the Democrats and Jimmy Carter put under lock and key over 20 years ago as well.

Tonight, look for the new reality show called “Black Gold” syndicated on cable channels across the country on TruTV. It’s a show that drills down into the ongoing oil explorations going on in West Texas today.

The U.S. still has oil! In fact, almost 70 percent of the oil in mature wells, some over 100 years old, is attainable with today’s technology.

The timing is right for U.S. oil industry stocks to rise. Meanwhile, the world market of crude will soon fall to below $100 in my guestimation.

Four major league oil companies are in negotiations for contracts that will return them to Iraq, 36 years after losing their oil concession to nationalization as Saddam Hussein socialized the oil companies and grabbed power.

Exxon Mobil, Shell, Total, BP and Chevron — and a number of oil-service companies, are in talks with Iraq’s Oil Ministry for contracts to service Iraq’s largest fields, according to press releases.

The deals, expected to be announced on June 30, will begin the first commercial work for the major companies in Iraq since Hussein ordered the burning of his country’s oil fields and the start of the Iraq war.

UPDATE: Time to ask why the Democrat Congress doesn’t do anything about the oil crisis.

The percentage of voters who give Congress good or excellent ratings has fallen to single digits for the first time in Rasmussen Reports tracking history. This month, just 9% say Congress is doing a good or excellent job. Most voters (52%) say Congress is doing a poor job, which ties the record high in that dubious category.

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