Newt at his best: Drill Baby, Drill!

Posted on February 23, 2012

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Newt didn’t actually say Drill Baby, Drill but that’s the message of a new 28 minute video of Newt Gingrich talking directly to the American people. In the video, Newt lays out a bold plan for making America energy independent, putting Americans back to work,  and generating hundreds of billions if not trillions of dollars of revenues for the federal government.

Those that have followed this blog for any time know that I am not a fan of Newt Gingrich. Be that as it may, I will take good ideas wherever I find them and the plan for America laid out by Newt in this video is the best I’ve heard from any candidate or for that matter any political figure, period.

I found the video at Maggie¡s Notebook last night. She borrowed the video from the Gulag Bound blog. Because the video is 28 minutes long, I doubt that many of you will have the time to listen to the entire speech. Fortunately, Maggie has  supplied us with a transcript of most of it, which I hope you will find time to read. Meanwhile, I’ll give you some of the highlights here:

Turns out, we may have more oil in the United States today, given new science and technology than we have actually PUMPED WORLD WIDE since 1870. We may, in fact, by one estimate, have three times as much oil in the United States as there is in Saudi Arabia.

Now Newt is prone to hyperbola but I from the reading I have done over the last year,  this statement is not hyperbola. Newt has evidently been doing a lot of homework and talking to experts. He talks at length about the  oil boom in North Dakota and the boom in natural gas production from gas shale. He explains the this has been possible because it is , so far, taking place on private lands where the government and the liberals weren’t able to stop private initiative.  Newt doesn’t base his plan for America to become energy independent only on the economic benefits, which are tremendous, but also  because it would be very beneficial to our national security.

First of all, since the 1970′s we’ve know that the Arab states and Iran combined have dominated oil production and have used their leverage to raise the cost of oil and to bring political pressure on Americans and Europeans. I want to get to a point where we produce so much oil in the U.S. that no American president will ever again bow to a Saudi King.

It’s time we tell the Saudis the truth. We know that they are the largest funders of schools called madrasses which teach hate. We know that they spend several Billions of dollars a year exporting a very, very extreme version of Islam called Wahabbism. We know that they are not straight with us, and up to now, our presidents have been too cautions…oh gee, I don’t want to offend the Saudis. I don’t want them to do something with their oil supply.

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As a National Security matter, it allows us to say to the oil developing dictators, whether they are Venezuela, Saudi Arabia, Iran…we will stand on our own two feet. The United States is not going to bow to anybody. We are not going to be blackmailed by anybody, and as we get to a balanced budget, we will start paying down our debt, paying off the Chinese-held bonds, so that we become truly, once again, independent – and not have to deal with the kind of pressure you might have to deal with because someone is holding on to your oil, or holding onto your U.S. Treasury Notes. Either one is a form of leverage over us, and weakens us…

He spends time in this video talking about Obama’s anti-energy policies and high gasoline prices. He also talks about all the federal land that is restricted form exploration and development and what he would do about that. But let’s cut to the chase. Here are Newt’s four goals and as you will see it is more than just becoming energy independent:

1) We can become energy independent for national security reasons,

2) Develop enough new energy here at home that will create well over a million jobs in the next few years, high-paying jobs, very useful jobs, jobs which by the way increase our manufacturing base, who’s much of energy production requires manufactured products in order to drill, to process, to transport,

3) By using Federal property and by allowing offshore development on federally controlled waters, we get paid a royalty. One of the leading experts on North Dakota has suggested that over the next generation, we might have $18 TRILLION, not Billion, $18 TRILLION in royalties, that we could gather for the federal government with no tax increases.

4) To accelerate that, I propose the following tax changes: We go to zero capital gains taxes so hundreds of Billions of dollars pour into the United States to enable us to have new investment, new factories, new exploration, new companies. I suggest a 12.5% corporate tax rate which will liberate about $700 BILLION overseas profits, to bring them back home to be reinvested, and to allow our companies to compete everywhere in the world. I propose that we abolish the death tax permanently, so that we are in a position where family businessess could focus on job creation, and on being successful and not on hiding from the IRS.

There is much more that I think you will find of interest in this video,

In spite of my being a Gloom and Doomer when it comes to America’s future, this is a plan that even I could get excited about and enthusiastically support. This the first plan I have seen that has the potential to save America from going over the cliff of economic collapse.  I do not like Newt Gingrich but I do like his plan for America.

Well, that’s what I’m thinking. What are your thoughts?

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