It’s a question that seems so 2008, but it is rearing its ugly head again. The average price of a gallon is already nearing record levels and there is no relief in sight. Some areas, like Chicago, could see prices as high as five dollars a gallon by the Memorial Day. Obama would like to blame you for the high gas prices, but the root problem is his energy policy that is stifling exploration in America. In the aftermath of the BP disaster in the Gulf of Mexico, President Obama …
It’s a sensitive question for some and several media outlets created a buzz when rumors circulated that BP and the Department of Interior had reached a deal to commence drilling again nearly a year after the spill. Department of Interior Secretary Ken Salazar quickly rebuffed any claims that BP and his agency had reached some sort of agreement to resume drilling in the Gulf of Mexico. Bureau of Ocean Energy Management, Regulation and Enforcement spokeswoman Melissa Schwartz confirmed that there was no special deal in place with BP, saying, “There …
It took them a week and a half, but The Washington Post editorial board has finally noted the absurdity of President Barack Obama’s support for oil drilling … in other countries. From today’s paper: When was the last time an American president stood before an audience in a foreign country and announced that he looked forward to importing more of its oil? Answer: Just over a week ago, when President Obama joined political and business leaders in Brasilia in hailing the fact that their newly discovered offshore petroleum reserves might …
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 …
Two Republican lawmakers have developed a plan they hope will put pressure on the Obama administration to speed up the permitting process for offshore drilling in the Gulf of Mexico. Reps. Bill Flores (R-TX) and Jeff Landry (R-LA) introduced legislation to codify timeliness of permitting process by establishing stringent deadlines and clear requirements on drilling applications. Leaseholders would even be able to request a refund on their bonus bid if the Department of Interior rejects an application. The goal is to finally end the de facto drilling moratorium, which was …
As gas prices in the United States continue to soar, policymakers in Washington are eager to point fingers and offer solutions. Most of the ideas are not new, and some are certainly much better than others, but they will inevitably be part of the debate. As legislators turn their attention to gas prices, here’s a straightforward list of what not to do. 1. Don’t increase subsidies for biofuels. The most popular subsidized biofuel, ethanol, produces less energy per unit volume than does gasoline, contributes to food price increases, costs taxpayers …
As gas prices hit $4 per gallon, White House spokesman Jay Carney assured Americans on Monday that the administration is well aware of the toll high fuel costs are taking on American families. So what’s President Obama’s solution to America’s pain? According to White House chief of staff Bill Daley, the administration may tap into the nation’s oil safety net – the Strategic Petroleum Reserve (SPR) – in order to bring down the cost of fuel. Big mistake. While most folks want to pay less at the pump, dipping into …
Faced with increasing electricity prices (as well as brownouts in some areas) and higher prices at the pump, Americans are calling for solutions that would result in affordable electricity and gas prices. The easiest way to do that is to increase supply to offset rising demand. The federal government’s role should be not to pick winners and losers among energy technologies but set the rules in place to allow companies to produce energy if it’s in their interest to do so. Rep. Devin Nunes (R–CA) released new legislation that provides …
The Obama Administration hasn’t had their boot on the neck of just BP but also the entire Gulf economy. Federal Judge Martin Feldman is now doing the same to the Obama Administration. A few weeks after Feldman held the Interior Department in contempt of court for ignoring his ruling to put an end to the job-killing drilling moratorium, he ordered the Interior Department to get moving on new permits one way or the other. Judge Feldman gave the Administration 30 days to act on five permits, emphasizing that the Administration …
Congress was unable to pass an oil spill bill in response to the Macondo well blowout last year, and now policymakers are eager to return to the issue. The largest outstanding issue is undoubtedly the oil spill liability or the secondary costs that stem from offshore oil and gas accidents. The law currently caps liability at $75 million, with up to an additional $1 billion available from the Oil Spill Liability Trust Fund paid for by a per-barrel tax on imported and domestic oil. Both Republicans and Democrats offered knee-jerk …
