Let's Increase Drilling and the Supply of US Domestic Oil and Get Price at the Pump Down

Business people must recognize that we have a serious problem in the US with the price of oil and gas at the pump.

The Democrats in US Congress are keeping us from exploring and drilling for domestic oil. And they are helping to limit our domestic supply.

The U.S. House and its appropriations committee (lead by Democrats) refused during the week of June 11, 2008, to lift the ban on oil exploration on the outer continental shelf (at least 50 miles from American shores).

We need to get more domestic oil. We need to increase US oil production and get price at the gas pump down. Drilling for oil is a way to accomplish that.

Let's tap our own US resources for oil. Otherwise, the international price of oil will rise to $250 a barrel, and we will be paying more than $10 a gallon at the pump.

Posted by Harrison K. Long, Explore Properties Group, Coldwell Banker Previews

U.S. Congress Should Work To Improve Our Domestic Oil Supply & Get Decreased Prices at the Gas Pump

This gasoline price at the PUMP CRUNCH is rough for all of us. Supply has not kept pace with demand, and so prices rise.

Many of steps taken in the U.S. for reduction of demand are being negated by increased demands for oil in foreign countries including India and China.

The best step we can take to decrease prices is to INCREASE SUPPLIES of oil here in the U.S.

U.S. Congress and Senate (both controlled by Democrats) has instead proposed legislation that would allow the U.S. to sue OPEC for suppressing oil production.

What?

We criticize other countries for curbing their oil production, and at the same time close off areas here in the U.S. known to have oil reserves and natural gas.

China is now working with Cuba to drill for oil 60 miles off the coast of Florida.

Meanwhile our Congress does nothing to increase our production and explore other U.S. oil resources.

On June 11, 2008, the U.S. Senate appropriations committee (controlled by Democrats) refused to consider a bill to allow exploration and drilling for oil by U.S. companies in international waters. Does that make sense?

We have advanced exploration technology available to allow development of oil in an environmentally-sensitive way while protecting surrounding habitats and wildlife.

Our U.S. Congress waits.

It is estimated that exploring a mere 2,000 acres of frozen tundra in the 1.5 million acre Arctic National Wildlife Refuge (ANWR) could produce 10.4 billion barrels of oil. It is also estimated that offshore drilling would yield 86 billion barrels of oil and large quantities of natural gas.

In the long term, we must find and develop alternative energy sources here in the U.S. and be less dependent on oil.

During the short-term, developing our own domestic sources of oil should take priority.

Our U.S. Congress with Republicans and Democrats working together should legislate for real solutions to increasE oil production, provide more oil for us and get gasoline prices down at the pump.

Posted by Harrison K. Long, Explore Properties Group, June 11, 2008
Source: Ken Calvert, U.S. Congress Representative, 44th District from California

U.S. Presidential Candidates Different Positions on Housing and the Economy

U.S. Presidential Candidates Different Positions on Housing and the Economy

The two U.S. Presidential candidates for election 2008 have different approaches to housing and economic issues.
Senator John McCain:
1. Proposes to spend up to $10 billion to allow some home owners to trade high-interest, adjustable-rate mortgages for fixed-rate loans.

That sounds good.

2. Proposes a suspension of the 18.4-cent federal gas tax and 24.4-cent diesel tax during the summer.

That sounds good too.

3. Supports a middle-class tax cut by doubling the personal tax exemption for dependents to $7,000.

This also will be good.

4. Calls for a simpler tax system with two tax rates and a generous standard deduction.

We agree.

5. Supports making permanent the 2001 and 2003 income tax cuts and proposes cutting the corporate tax rate to 25 percent from 35 percent and allowing businesses to immediately write off capital expenses.

We agree again.

6. Maintains that government assistance to the banking system should focus on preventing systemic risk that would endanger the financial system and the economy.

Senator Barak Obama:

1. Calls for greater government regulation of the U.S. financial system and proposes a new $30 billion economic stimulus plan to help home owners, including a $10 billion foreclosure prevention fund to help people keep their homes and $10 billion in relief for state and local governments hit hardest by the housing crisis.

Would that be socialism? Is he suggesting that we socialize the U.S. financial system?

2. Outlines six "core principles for reform" that would give the Federal Reserve supervisory authority over any financial institution to which it might make credit available and calls for reform and streamlining of financial regulatory agencies.

What?

3. Wants to repeal a provision in the bankruptcy law so ordinary families can modify terms of home mortgages.

What are "ordinary families"? What does he mean by "modify terms"?

4. Proposes a 10 percent mortgage tax credit for middle-class Americans.

What are "middle class Americans"?



Posted by Harrison K. Long, Explore Properties Group, Coldwell Banker Previews, June 10, 2008.
Source: Reuters News Service

Vote YES on CA Proposition 98 in June 2008 Election

Vote YES on Proposition 98 and NO on Proposition 99 in the June, 2008, election.

Proposition 98 will limit the ability of local governments to use eminent domain to seize private property and give it to other private entities.

Proposition 98’s opponents have circulated a great deal of misinformation.
Set the record straight & know the truth about 98:

Myth 1: Opponents claim that tenants currently in rent controlled units will be summarily evicted.

Truth: Tenants currently in rent controlled units cannot be summarily evicted. Prop 98 only lifts rent controls AFTER a tenant: (1) vacates the unit voluntarily or (2) has been removed for a just cause, which is defined by local rent control ordinances.

Myth 2: Critics of reform claim that Prop 98 threatens the construction of state water projects.

Truth: Prop 98 will NOT limit the construction of state water projects. This view has been rejected by independent legal authorities such as the Institute for Justice, the organization that litigated the Kelo case, as well as a prominent water attorney that represents numerous California water agencies. Experts have affirmed Prop 98's intent to protect government's use of eminent domain for legitimate public use – state water projects are OBVIOUSLY a legitimate public use. Additionally, the state Legislative Analyst's Office did not cite any impact on water projects in their report to the Attorney General's office.

Myth 3: Opponents claim that Prop 98 prevents local governments from using eminent domain to obtain property for PUBLIC purposes, like schools, libraries, etc.

Truth: Prop 98 only prevents eminent domain from being used to seize private property to give to other PRIVATE entities. The state Legislative Analyst’s Office says this: “Under the measure, government could continue to take property for facilities that it would own and use, such as new schools, roads, parks, and public facilities.”

Posted by Harrison K. Long, Explore Properties Group, May 24, 2008
For more information go to www.yesprop98.org

Bush Administration & Lending Industry Correctly Oppose Giving Bankruptcy Judges More Power

The U.S. Senate passed legislation April 10, 2008, that would provide billions in tax cuts for home builders, banks and other businesses. However, the U.S. House of Representatives is considering other legislation that would provide more help for individuals, but no breaks for businesses. The Senate's bill is compromise that didn't include a provision to allow bankruptcy judges to reduce the principal on in trouble borrowers' mortgages. The Bush administration and the lending industry correctly opposed giving bankruptcy judges power to force "cram downs" of loan principal on lenders.
Posted by Harrison K. Long, Explore Group, April 10, 2008