Republicans Screw Up Energy Issue

Both the Democrats and Republicans knew that the GOP had the public behind them fully on the energy issue. So, as the WSJ points out this morning (and reprinted here in GOPachy), it is puzzling why the "Gang of 10" (5 Republican and 5 Democrat Senators) gave it up and gave the Dems almost exactly what they want.

That's because the plan is a Democratic giveaway. New production on offshore federal lands is left to state legislatures, and then in only four coastal states. The regulatory hurdles are huge. And the bill bars drilling within 50 miles of the coast -- putting off limits some of the most productive areas. Alaska's oil-rich Arctic National Wildlife Refuge is still a no-go.

The highlight is instead $84 billion in tax credits, subsidies and federal handouts for alternative fuels and renewables. The Gang of 10 intends to pay for all this in part by raising taxes on . . . oil companies! The Sierra Club couldn't have penned it better. And so the Republican Five has potentially given antidrilling Democrats the political cover they need to neutralize energy through November.

Sen. Obama was thrilled.

To say that the GOP are bad politicians is an understatement. They gave the Democrats pretty much every single demand they had. Truly unbelievable. The result will be that new drilling will be virtually impossible because of regulation, oil companies will be taxed more - and prices will go up more.

As usual "bipartisanship" means: "Republicans cave in to Democrats."