Drill, Baby, Drill ... Just Not Anytime Soon

Republicans spent the first week of September at their national convention in the Twin Cities chanting: "Drill, baby, drill." The pressure and poll numbers showing public support for drilling may be paying off for them.

Democrats have resisted efforts to support offshore drilling most of the summer. However, a bipartisan group of senators has pushed for an energy compromise that would include drilling. Senate Majority Leader Harry Reid (D., Nev.) announced Monday a legislative slate to address comprehensive energy plans and offshore drilling to facilitate a compromise.

Will an energy bill pass or will 2008 mirror 2004 when Congress passed the buck on energy? Back in 2004 an important presidential election was also dominating the news. However, in contrast to the present, Democrats were in the minority back in 2004. Democrats had managed to block the passage of an energy bill crafted by VP Dick Cheney's energy commission for three years in a row by bottling it up in the Senate. It finally passed in 2005 after the election.

History could very well repeat itself. Democrats and Republicans have drawn distinct lines in the sand, making it practically impossible for a bipartisan solution. Robert Dillon, political correspondent for Energy Intelligence, said in an interview: "Both Democrats and Republicans have their poison pill to kill any energy legislation."

Dillon pointed to three provisions the Democrats -- who are now in the majority -- have insisted on and for which they face opposition by the Republicans and the oil industry: 1) use-it-or-lose-it provisions for drilling leases, 2) windfall profit taxes and 3) renewable fuel standards. Dillon said: "The Democrats remain uninterested in compromise because they see the possibility of picking up seats in the Congress and a Democratic president."