Oberweis defends offshore drilling

E-mail this story

Print this story

Share

by Frank Vaisvilas SANDWICH—Republican congressional candidate for the 14th District Jim Oberweis discussed high gas prices and other energy issues with a group of about 25 people to whom he passed out some of his ice cream to in a conference room at the Sandwich Opera House on Aug. 12.

“There’s no question that the high price of gas ranks among the top issues on people’s minds,” Oberweis said.

Bob Costigan of WSPY radio asked Oberweis for his opinion about the public outcry over reports of oil company profits.

While Oberweis admitted that Exxon reported the largest profits ever, he added that it is still less than General Motors Company lost.

“Keep this in perspective,” Oberweis said.

He added that oil companies tend to invest revenues in other alternative technologies or additional drilling prospects.

Oberweis also pointed to the many dividends by shareholders in oil companies adding that Exxon has some of the most widely held stocks owed in retirement funds.

Oberweis also was asked about the Democrats’ argument over the 68 million acres of federally leased land for oil companies to drill. Oberweis questioned the commercial feasibility of many of these areas.

“Just drilling a dry hole, that’s no fun,” Oberweis said.

On the other hand, he added, prospectors are sure of 86 billion barrels in offshore drilling and 10 billion barrels in Alaska. He said that while his Democratic opponent Bill Foster is beginning to show an interest in offshore drilling, Foster still chose to vote to adjourn before a vote on drilling.

Oberweis questioned a woman from the Illinois Democratic Party, who was filming the event, about why Foster voted to adjourn.

The woman said there were two votes to adjourn and Foster had not voted for it the second time on the day of.

Oberweis argued that drilling close to home safely will increase energy independence instead of paying $700 billion to other countries, such as in the Middle East which might not be friendly to the U.S.

“It is possible we could even become an exporter of energy,” Oberweis said.

He acknowledged that it could take five to 10 years to get that new domestic oil into the market, but the market reaction would take much less time encouraging foreign producers to reduce prices.

Oberweis also supports temporarily suspending federal and state taxes on gas, which he said would reduce the cost to consumers by as much as 80 cents a gallon. He argued that the state receives in more in taxes as gas prices rise.

He also supports alternative energy, such as bio-fuels, solar power, wind power and nuclear energy although he argued the market should decide which resources should be more dominant instead of being subsidized by the government. Oberweis supports seed money for these programs, as well as incentives for hybrid vehicles and public transportation.

“These are the types of programs we can use to reduce our energy needs,” Oberweis said.

He also acknowledged that the economy could be in a recession from a combination of factors including oil, housing and jobs.

Oberweis faces Foster in November after losing to him in a special election in the spring. Oberweis feels he can win this time because he expects an overall much higher voter turnout and the campaign is focused on the issues.