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One Tiny Cheer for Obama on Drilling
Posted By Nicolas Loris On May 16, 2011 @ 4:45 pm In Energy | Comments Disabled
President Obama has often said that we need more oil and gas drilling in the United States, but rarely have the Administration’s actions matched his rhetoric. In his weekly video address , however, the President called for more lease sales in Alaska’s National Petroleum Reserve, extended leases in the Gulf of Mexico and the Arctic Ocean, and expedited preliminary reviews to move forward with drilling off the Atlantic coasts.
House Natural Resources chairman Doc Hastings (R–WA) hit the nail on the head when he labeled President Obama’s announcement as  “tiny baby steps,” and for that the President receives one tiny cheer.
But there are plenty of opportunities for the President to earn more cheers when it comes to energy policy that can help the economy as a whole. With regards to his weekly address, here are four of them:
We’ll be happy to commend the Administration when it opens up access to all of our domestic resources so that industry can develop and produce oil and gas in a safe and timely manner—and when the government allows the market to determine which industry can provide the lowest cost form of energy for consumers. Until then, this Administration’s energy agenda is largely anti-energy.
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URL to article: http://blog.heritage.org/2011/05/16/one-tiny-cheer-for-obama-on-drilling/
URLs in this post:
 his weekly video address: http://www.washingtonpost.com/business/economy/obama-announces-steps-to-speed-oil-production/2011/05/14/AFXi3Q3G_video.html
 labeled President Obama’s announcement as: http://www.redstate.com/dhorowitz3/2011/05/16/obamas-oil-drilling-subterfuge/
 which holds an estimated 10 billion barrels of oil beneath a few thousand acres: http://www.heritage.org/research/reports/2011/03/what-to-do-about-high-oil-prices
 applying for new licenses: http://www.ft.com/intl/cms/s/0/c91db740-7b28-11e0-9b06-00144feabdc0.html#axzz1MWqpEyir
 Finger-pointing at speculators and formation of a gas task force: http://www.cbsnews.com/8301-503544_162-20056205-503544.html
 Federal Reserve studies: http://www.federalreserve.gov/pubs/feds/2009/200929/200929pap.pdf
 repealing them would be a punitive tax hike on the industry: http://www.heritage.org/Research/Reports/2011/05/Whats-an-Oil-Subsidy
 for 40 percent of the wholesale cost of electricity on average: http://www.foundry.org/2011/05/13/what-if-oil-producers-actually-received-subsidies-like-wind-energy-producers/
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