- The Foundry: Conservative Policy News Blog from The Heritage Foundation - http://blog.heritage.org -
President Obama Can't Wait to Buy More Foreign Oil
Posted By Conn Carroll On March 22, 2011 @ 1:00 pm In Energy | Comments Disabled
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.”
Article printed from The Foundry: Conservative Policy News Blog from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2011/03/22/president-obama-cant-wait-to-buy-more-foreign-oil/
URLs in this post:
 Image: http://www.foundry.org/wp-content/uploads/special_gas_prices_obama_FEB_2011.jpg
 the steepest rise in gas prices since the Carter Administration: http://www.eia.doe.gov/emeu/steo/realprices/index.cfm
 restricted traditional domestic energy development at every turn: http://www.foundry.org/2011/03/03/morning-bell-how-obama-is-making-gas-prices-higher/
 President Obama’s Gulf drilling moratorium will cause domestic offshore oil production to fall 13% this year : http://online.wsj.com/article/SB10001424052970204204004576050451696859780.html?mod=WSJ_hp_LEFTTopStories
 highlighted: http://www.bloomberg.com/news/2011-03-20/obama-tells-rousseff-he-wants-u-s-to-be-among-brazil-s-best-customers-.html
 warned: http://www.politico.com/news/stories/0311/50417.html
Copyright © 2011 The Heritage Foundation. All rights reserved.