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  • President Obama Can't Wait to Buy More Foreign Oil

    The Obama Administration has already presided over the steepest rise in gas prices since the Carter Administration. And like President Jimmy Carter, PresidentBarack Obama has restricted traditional domestic energy development at every turn. According to the Energy Information Administration, President Obama’s Gulf drilling moratorium will cause domestic offshore oil production to fall 13% this year . Absent the Obama moratorium, the EIA had predicted a 6% increase in offshore production from 2010 levels. That means President Obama’s Gulf moratorium alone will cost American consumers 220,000 barrels of domestic oil production a day.

    But President Obama is not against all offshore oil drilling. When other countries are the ones developing their natural resources, President Obama is all for it. This Sunday in Brazil, President Obama highlighted that country’s recent offshore oil discoveries: “We want to help you with the technology and support to develop these oil reserves safely, and when you’re ready to start selling, we want to be one of your best customers.”

    As Steve Forbes recently warned: “The Obama Administration is repeating the mistakes of President Jimmy Carter’s failed energy policies, which marred his term and stigmatized the 1970s. They are leading us straight into another national energy disaster.”

    Posted in Energy [slideshow_deploy]

    14 Responses to President Obama Can't Wait to Buy More Foreign Oil

    1. Steve Grant says:

      The domestic 'traditional' energy sources you refer to are a whole different animal from the easily accessible oil wells in the Mid-East that we are now reliant on.

      Deep sea Gulf and Arctic deposits: at the far edge of our offshore drilling technology; the BP disaster came about precisely because of the technical difficulties of drilling at unprecedented depths. "Many ultra-deep operations cost more than $60-$70 a barrel, and so will likely be suspended." http://seekingalpha.com/article/112348-deepwater-

      The "800 billion barrels (a moderate estimate) of recoverable oil from oil shale in the Green River Formation" are tar sands deposits – again an unconventional highly costly, and highly controversial oil source. It takes one barrel of oil's worth of energy to extract three barrels of shale oil, and the political resistance from the affected states that would arise increases the risk of projects there. These factors make extraction an unappealing prospect to potential investors.

      Finally our deep gas shale deposits require the new and costly hydraulic fracturing technique for extraction – banned outright in the state of New York by state, not federal mandate, due to seismic disruption, water source poisoning and dangerous surface gas leaks.

      It is lazy to suggest that we have all the gas we need easily at our disposal, and that domestic drilling could counterbalance perturbation and short supply in the global oil market. Our domestic proven oil reserves amount to 1.37%; that's a drop in the ocean. http://en.wikipedia.org/wiki/List_of_countries_by

    2. Bobbie says:

      Only ignorance would suggest tapping oil reserves that are not reserved for domestic governing mishaps. Only a fool would suggest it "lazy" to drill for our own! No need for foreign oil when we have plenty.

      The reason why we're in the situation we are, is because those who abuse their authority, suggest it will take too long? Totally dismissive of productivity!

      We're not getting the help needed from government. only road blocks and cover-ups.

    3. Juliet Burns, arling says:

      How on earth can you even use that headline when the worst prices at the gas pump were in 2008! It was cheaper to FLY my family of 5 to Florida for our Disney trip than to drive from Dallas to Florida that summer!! I believe Bush was president then. Amazing how your little graph completely leaves 2008 out.

      This isn't news, it's propaganda

    4. Stirling, Pennsylvan says:

      Jimmy Carter showed just how bad things can get when the control of our basic needs are no longer under our control. It's curious that Enviromentalists are for baning drilling, but then will complain that prices for goods and services are extreemely high as a result. It's been proven that even if we dedicate the entire free space of our country to solar/wind farms, that it will not produce the power needed to offset the oil needed to run our country ever. This administration could learn a lot from Mr. Carter as well as the end result – 4 years and done.

    5. Jane, Indiana says:

      It is true that 2008 had the highest gas prices – so far. But the chart was comparing the first 26 months in office as that is where Mr. Obama is in his term. What the chart does show is that during the same time period in office, the price of gas has risen at a much faster pace than when Bush was in office. It will be interesting to see where we end up this summer, when vacation travel begins in earnest. With prices already at $3.70 per gallon, $4.00+ does not seem unrealistic by the height of the summer travel season. We will have to wait and see how it all plays out. The chart is not propaganda, just an apples for apples comparison of the first 26 months of each president in office.

    6. Richard, New Orleans says:

      Juliet – Both your statement and the headline are correct.

      Although the price of gasoline peaked in 2008, that price increase started in early 2007 and slowly but steadily increased until mid-2008. The recent gas prices increased by a larger amount and over a shorter time than in 2008. Of course if corrected for inflation, gas is still cheaper recently than it was in 1930. Please don't take my word for it go to http://gasbuddy.com/gb_retail_price_chart.aspx and play with the chart yourself.

    7. Pingback: Must Know Headlines 3.23.2011 — ExposeTheMedia.com

    8. Lloyd Scallan (New O says:

      Steve Grant – Like most that has no idea about which they are talking, oil

      from the Middle East, besides being subject to the unstable politics of the region,

      requires transport to refineries, which requires tanker vessels, where most of the

      major spills worldwide occur (Exxon Valdese), not to mention the enormous daily cost of a 100,000 ton tanker, which of course adds to the cost of the product.

      You conveniently forget to mention the easily accessibal oil deposites that exist under millions of acres of federal lands Obama has put off limits to drilling, as well as the Alaska wildness. In addition, billions of barrels of oil are easly recoverable in much shallower depths of the Gulf, East and West coast, as well as inland areas.

      Present "deep sea and Arctic drilling is by no means at the "edge of technology".

      Offshore drilling world-wide in depths of over 10,000 feet.is quite common today.

      In case you missed it, the BP spill was at 5,000 feet because because after BP applies for the permit (at much a shallower depth) and it was granted by the State of Louisiana, the Obama adminstration denied the permit, then forced BP to drill where it did, knowing full well investigations could not be easly conducted at those depths, not because it was on the "edge". To this day, the reason the BOP failed (which almost never happens) to shut-in the well is still not know. Why! Just after Obama publicly announced he was to approve drilling exploration off our coasts, his environment radical left went nuts. He needed a reason to appease this bunch of his voters, so he had to make this BP spill much worse that it had to be as an excuse to stop all offshore drilling. This is exactly why he refused help from other countries that had the equiment available 3 days after the blow-out, not because of the "Jones Act"!

      Obama delibertly stopped offshore drilling inside the U.S. boundries, but yesterday gave Brazil $2 billion of our tax dollars to drill of their cost. That destroys any environmental concernts! Besides George Soros's (who just happens to be one of Obama biggest supporters) "investment" in the Brazilian government owned oil company, Obama's ideology of "redistribution of wealth" just might be the reason, forcing this nation to continue to support third world countires with out dollars for their oil.

      Overall, their is sufficent oil deposits in this country to support our needs for

      the next 200 years. Yet you, and your ilk, make lame excuses to not become

      independent of other sources.

    9. Don Harper, Lubbock, says:

      Were we not led to believe that Mr Obama's hatred of fossil fuels was the result of his principled opposition to the resultant pollution and consequent adverse effect on the environment? If so, how can Brazilian pollution be any better than American to a truely principled person? Oh, never mind.

    10. Lloyd Scallan (New O says:

      Juliet Burns – The reasons for the 2008 high gas prices is exactly the same as

      today, an unstable Middle East. Yet at least we had gas then. Not like under Jimmy Carter when we had either no gas or long lines. Besides that, the steadly increasing prices has not yet top out. This of course brings us to the reasons Obama and his adminisration are openly admitting they feel gas prices should equal Europe's prices ($10.00 per gal). Preventing us from tapping into our own oil deposits.

    11. Leon Lundquist, Dura says:

      When I say Obama serves the Foreign Interest exclusively, this is exactly what I mean! Brazil is not who elected him! Ask me it was impossible for the Gulf Oil Spill to be an accident! I think the whole Government Agency should be defunded for causing that Man Caused Disaster. BP wasn't qualified to 'self inspect!' BP put one check valve on it's Rig instead of the normal two! Then, impossible odds that the one shut off valve didn't work! The Obama Moratorium in the Gulf has made the Brazilian Oil Boom even better and American Gulf Producer's expense! Obama sent our Rigs to Brazil! George Soros got a big increase in the value of his stocks! Obama serves Soros, the big commie Union thugs! He serves everybody but Americans!

      To bad the Demo-crats have split the Conservative Demographic so they will never lose. There are so many Man Caused Disasters coming directly from this President that Conservatives cannot agree upon what Outrage to take on! Hell! They have Minced our Demographic! Conservatives are splintered by the facts on the ground. The math says we will never mount adequate opposition in any particular! There is more outrage due these Infiltrators than the human breast can endure!

      Progressives are killing America for the fact of their own transgressions! The only thing wrong with America are the ten thousand Progressive things that they put in over the last 100 years! Junk Economics like the Income Tax and the Fed. When I say Thought Crime I mean literally thought up crimes! I mean things blown up by fake Statistics to absolutely crazy hyperbole! These things were laid by huge lies in Chambers of Congress as preposterous as Al Gore! Junk Science like Carbon causing 50 ft. sealevel rises? Pure junk and lies to a Congressional Committee! Believe it comrade, it is all about killing your Spirit! And the Spirit of America!

      Thanks Conn! You rock!

    12. Wes in cincy says:

      Simply the most corrupt administration that I have ever seen, by far.

      If we don't throw these bums out next year they will suck the blood out of this country.

    13. Dan in Louisana says:

      My son is a drilling fluids engineer and the new regulations are eating them up. Management is paranoid and things are checked over and over in an attenpt to safeguard against something the Feds could hang them on, or bring 'criminal' charges against employees. There is so much redundancy that it costs much more to "do business". The company he works for has a sterling safety record; yet they cannot even complete the deepwater projects in progress that were suspended by the moritorium. And to top it all, a Federal judge has said the moritorium is unconstitutional. I detest it when politics become the driving force behind decisions instead of the public good for which these men were elected to office. We have deleted the part that says,"for the people".

    14. Varena Barber, South says:

      I heard on the Radio that the Heritage Foundation went back to the Gulf one

      year later and I want to know what their findings were?

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