Here's my analysis of the current energy proposals being tossed around in US politics.
The Republicans want to lift the oil drilling ban on US central States, ANWAR, and offshore territory. In the long run, this will help gas prices a little bit, but not very much. Most people assume that all of this newly opened US oil will only go to the US. That is not how the oil market works, and this oil will be dispersed all over the world. However, this would improve our trade deficit, since we would have something to sell to the rest of the world while simultaneously reducing our own oil imports. It's likely that oil will continue to get more valuable over the next two decades, so it would be good for our economy if we had a valuable liquid to sell to the rest of the world.
Additionally, John McCain and some other Republicans have expressed support of building more Nuclear Power plants. This would be a great way to cut down on domestic coal use and dirty energy. However, it's likely that we would have to import some of the Uranium from foreign countries, such as Canada. Compared to using domestically owned coal, this idea doesn't help our trade deficit. The good news is that Nuclear is extremely clean, and would be a great source of electricity if we were to switch over to electric cars. If everyone drivers an electric car, the US is going to need to pump out a lot more electricity. It doesn't make sense to use dirty coal to power a "clean" automotive technology. Nuclear is also sustainable for a long time because there is plenty of Uranium.
Nancy Pelosi and some Democrats are hell bent on stopping any attempt to lift US drilling bans. This is fine, except that she and most of the other Democrats have not proposed any sound counter proposals to our energy problem. She's making herself and the rest of the Democratic party look like a bunch of fools. The Democrats criticize an admittedly weak Republican energy proposal, but they have nothing of their own to present. The typical Democrat will say, we need to invest money in alternatives. That's fine and dandy, but it's unlikely that any giant technological breakthrough regarding alternative fuels is going to materialize in the next decade.
I should know all about the technological pace of alternative fuels, I work in a Plant Biology Research lab. The focus of the lab is to genetically modify plants so that they become better feed stocks for bio-fuels. I assume that most of you are not familiar with a researcher's environment, so let me bring you up to speed. Research takes a long time!Grad Students and Post Doc's can spend years for the sake of publishing a single finding. A finding is often as insignificant as discovering what a specific gene and alterations of it, of thousands, expresses in a plant. These are important findings that all contribute to a greater cause of understanding, but it is a slow process of putting all the pieces together. It might, over the course of decades, be possible to create the holy grail of bio-fuel feed stocks with some godless plant mutant, but it is highly improbable that this will happen over the next couple of political term cycles.
The above paragraph means that, the Democrats don't have a short term energy policy!
Both arguments juxtaposition, each party has shitty energy proposals, but all things considered over the next decade, the Republican strategy of increasing domestic drilling is the best choice.
The Democrats don't have an energy policy right now. It's likely that over the next eight years, if they are in charge, absolutely nothing will happen. The oil market will continue on it's current trend of decreasing supplies and increasing worldwide demand. So even if they piss and moan that domestic drilling will make little impact (and it will make little impact), it will still be more effective than their counter proposal of doing nothing while waiting for research to catch up.