Bogus Bill Proves Hodes Ignorant on Energy Economics*
(Hillsboro) Hillsboro Republican Grant Bosse today blasted Democrat Paul Hodes for backing a proposal that proves the first-term Democrat knows nothing about offshore oil drilling or federal energy policy. Hodes has jumped onto an idea by radical colleague Carol Shea-Porter that would force oil companies to drill for oil on any federal leases they hold, even if there was no oil to be found. Last week, gas prices averaged more $4 per gallon in New Hampshire for the first time.
“Paul Hodes has consistently blocked efforts to expand domestic oil production, blocked efforts to use domestic reserves, and voted to increase taxes on gas. Now he wants to force oil companies to spend millions of dollars to drill in places that won’t increase the oil supply,” Bosse said. “Paul Hodes doesn’t know what he’s talking about, and he isn’t serious about bringing down gas prices.”
This morning, the Union Leader editorialized that of the many dumb ideas to come out of Washington in recent years, the Hodes-Shea-Porter proposal “might be the dumbest of them all.” The paper reported that oil companies have good reasons not to drill on every federal lease they hold, either because they can access the oil field from a nearby rig, or because there isn’t likely to be any oil. Hodes latest proposal follows a much-ridiculed plan to spend millions of taxpayer dollars on carpooling, which would also do nothing to lower gas prices.
“Paul Hodes needs a basic lesson in economics. My plan would increase the supply of crude oil, bring new refineries online, and end the wasteful ethanol subsidies that are driving up gas prices,” Bosse added. “Paul Hodes plan is to distract voters with gimmicks that would do nothing to bring down gas prices.”
Grant Bosse has released a comprehensive Energy Plan that would increase domestic oil supplies, end federal subsidies, and promote market-based research into alternative and renewable fuels. Find more about Bosse’s campaign at www.Bosse2008.com