The Wall Street Journal reports today that, “More than two months after the Obama administration lifted its ban on drilling in the deep-water Gulf of Mexico, oil companies are still waiting for approval to drill the first new oil well there. Experts now expect the wait to continue until the second half of 2011, and perhaps into 2012.” Not only is the Obama permitorium destroying jobs throughout the Gulf region (the Obama administration’s own estimates put moratorium job losses at 12,000) but the Energy Information Administration is now putting numbers on the damage the offshore ban is doing to domestic energy supply:
The slowdown also has long-term implications for U.S. oil production. The Energy Information Administration, the research arm of the Department of Energy, last month predicted that domestic offshore oil production will fall 13% this year from 2010 due to the moratorium and the slow return to drilling; a year ago, the agency predicted offshore production would rise 6% in 2011. The difference: a loss of about 220,000 barrels of oil a day.
Experts are now predicting that rising gas prices will hit $4 a gallon by this summer and $5 a gallon by 2012. Remember, higher energy prices are a deliberate policy goal of the Obama administration. This is the purpose of the EPA’s greenhouse gas regulations, the offshore drilling ban, and the Bureau of Land Management’s new rules restricting natural resource development.
There is a better way. Americans should demand an energy policy that is rooted in the free market, builds on private property rights, and relies on the initiative and entrepreneurial spirit of the private sector. This will not only promote economic growth, but also help Americans to achieve their environmental objectives.
Why are you dragging your feet on economic growth in America, Mr. President? Be specific as we see NO REASON!
Supplies go down – prices go up and with almost ALL gasoline now containing at least 10% ethanol (didn't the EPA decree that the refineries could go to 15% if they wished?) gas mileage goes down.
Even AlGore says ethanol was a mistake. When will Congress demand that corn be taken out of the gas tank and put back in the food chain?
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When the Dems took over the House and Senate in '07, I seem to remember that oil prices were an issue that they had promised would get better under them. Why is this never mentioned????
There is absolutely no justification for these restrictions.
Now that the cavalry has arrived (sufficient numbers of conservative Representatives) the House of Representatives should haul Interior (Salazar) and EPA (Jackson) before committee hearings and make it clear that the Obama Administration either backs off this governing by regulation or their operating budgets will be cut from cabinet department size to agency size.
Obama’s March 2010 announcement of easing offshore restrictions was nothing more than noise and smoke to cover the movement of his main assault force that was after the larger objective of environmental justice via cap and trade legislation. Once the Gulf oil rig explosion threw them off their game and cap and trade bogged down they turned on the regulation machine and have been running it full throttle.
The House needs to cut off the fuel supply to the regulation machine.
Are you kidding me? It's statements like this –
"Remember, higher energy prices are a deliberate policy goal of the Obama administration. This is the purpose of the EPA’s greenhouse gas regulations, the offshore drilling ban, and the Bureau of Land Management’s new rules restricting natural resource development."
– that must be targeted towards people who don't read much or only read this blog. If anyone read anything else, that is, if they were appropriately informed, they would know in about 12 seconds that this is nothing more than made up lies. You guys can do better than this, can't you?
Now, I'm betting this comment won't be approved, but that's ok.
What lies, Scot? the ones your brain has been washed to suggest?
Everything you call a lie are direct results of higher gas prices. What lies, Scot?
The drilling ban is part of the Soros/Obama plan to impoverish the U.S.A.
Their intent is to generate huge inflation and collapse of the dollar, and Soros to get even more personally rich while betting on that. That's one reason he supports Obama. It's symbiotic.
If you invest in gold, they will try to confiscate that. If you have a pension plan, they will try to confiscate that. What is a safe investment these days? I predict it will be either lead and brass or tar and feathers.
simply scott says to believe that this administration is purposely killing energy production means I'm not well informed, Numerous people close to Obama, including him have said this is the goal.Why would I not take them at their word. They claim to want renewable energy, very expensive, the way to get there is to make cheap energy more expensive than renewable. They don't care how much it hurts they won't feel the pain ,we will.
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I would advise that you look at something other than your political party info sheets unless you are Afraid to have your political bubble burst! Knowing the truth about something and someone can be Very Enlightening but May cause doubts about your system of beliefs.
I challenge all True Americans to look at the facts as rendered by all parties Before Making-Up your Own Minds.
I challenge All True Christians To Follow The Bible And Spend 1 Month Praying For President Obama And See The Glory Of God Turn This Nation Back To What We Once Were.
Ray From Reno IS Raymond E. Gay
Because Of The Financial Mess Made By George Bush When He Was President, And Left For President Obama To Clean-Up, We Are Experiencing Very Hard Times…Especially At The Gas Pump! Everyone Wants To Blame The Wrong Person. Why Is That? Doesn't Anyone Remember G.W.Bush Owned 50% of several major gasoline refineries. Who Profited From Gas Prices Going Up?
John McCain Ran For President Against Barack Obama. Is A Proven Liar The Best Man For This Cojuntries Leadership. Is A Man Who Is So Wealthy He Can't Remember How Many Homes He Owns Able To Relate To Plumbers? Was Barack Obama In Office When Government Loans Corrupted The Economy? Who Was?
Ray From Reno IS Raymond E. Gay
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As a matter of fact, Obama was in office, Ray. In the senate. Where all the messes of today would have been prevented by intelligence if that was a goal. Now, however it's been taken advantage of and made worse by the one in office currently.
One thing about John McCain, he owns those homes which means he paid for them and those that take the responsibility to pay for something they buy without being nursed by government, helps the economy beautifully. Freddie and fannie and those behind this intentional housing disaster are all government related. All of a sudden, no one is held accountable to the contracts they've signed or the deception they've told to receive loans. Government put that accountability on the unaccountable tax payers.
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