Thursday, November 6, 2008

Reagan had the right idea!

Ronald Reagan inherited a country experiencing gasoline shortages. Read how he handled this problem. Did we ever run out of gas since?

Statement on Signing Executive Order 12287, Providing for the Decontrol of Crude Oil and Refined Petroleum Products

January 28, 1981

I am ordering, effective immediately, the elimination of remaining Federal controls on U.S. oil production and marketing.
For more than 9 years, restrictive price controls have held U.S. oil production below its potential, artificially boosted energy consumption, aggravated our balance of payments problems, and stifled technological breakthroughs. Price controls have also made us more energy-dependent on the OPEC nations, a development that has jeopardized our economic security and undermined price stability at home.
Fears that the planned phaseout of controls would not be carried out, for political reasons, have also hampered production. Ending these controls now will erase this uncertainty.
This step will also stimulate energy conservation. At the same time, the elimination of price controls will end the entitlements system, which has been in reality a subsidy for the importation of foreign oil.
This order also ends the gasoline allocation regulations which the Departments of Energy and Justice cite as important causes of the gas lines and shortages which have plagued American consumers on and off since 1974.
In order to provide for the orderly termination of petroleum controls, certain minor provisions of the current regulatory program will not end until March 31, 1981.
Ending price controls is a positive first step towards a balanced energy program, a program free of arbitrary and counter-productive constraints, one designed to promote prudent conservation and vigorous domestic production.

This was brilliant. unfortunately since, congress has added regulation upon regulation upon the oil industry and limited where and what they can produce. We need a conservative like Reagan. I know he is out there, somewhere! How bad will it have to get before we recognize him(her) or they recognize their potential and decide to stand up for the rest of us?

Is it you?

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