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The Wisdom of Drilling for Oil
Rea Clear Politics ^ | February 27,2012 | Peter Morici

Posted on 02/27/2012 6:32:33 PM PST by Hojczyk

When Barack Obama assumed the presidency, gas prices were less than $2 a gallon. He proceeded to shut down deep-water drilling in the Gulf, tightened other federal restrictions on petroleum development, and vetoed the Keystone Pipeline. Now, even with Americans driving not a lot more than three years ago and global growth slowing, gas is nearing $4 a gallon.

The liberal theocracy in academia, the media and the Democratic Party leadership relentlessly expounds that drilling for oil in the United States won’t much affect U.S. gas prices, because petroleum prices are set in global markets.


Oil prices paid by U.S. refineries in the Gulf do move with global prices but not in lockstep. Increasing North American production would lower U.S. refinery acquisition costs, because U.S. refineries, like others around the world, are built to handle the special characteristics of oil produced by their primary sources supply

That’s simply not so—drilling for more oil in the United States could make a big difference.

After three years, the President, who promised Americans millions of clean energy jobs in place of a thriving petroleum industry and much lower unemployment, should own up to his mistakes. Most Americans are needlessly paying too much for gas and foreign oil, while federally subsidized solar and wind projects are filing for bankruptcy.

This November, poor judgment and weakness of character—such as the President’s repeated attacks on the petroleum industry and failure to take responsibility for the consequences of his actions—make the most compelling case for change.

Americans should not expect a perfect president but at least one who bases decisions on facts not whimsy, and learns from mistakes. Americans are simply not getting fact-based leadership and good judgment from President Obama.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Government; News/Current Events

1 posted on 02/27/2012 6:32:34 PM PST by Hojczyk
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To: Hojczyk

“.....should own up to his mistakes.....”

This clown hasn’t made any mistakes really as everything he’s done, or is doing is calculated to break this country down to Third World status.

NOPE, the only thing related to the word “mistake” is the mistake of those that voted the bastard to office.

2 posted on 02/27/2012 6:45:51 PM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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