Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Don't Thank Obama for Cheap Oil
Townhall.com ^ | January 19, 2016 | Stephen Moore

Posted on 01/19/2016 10:45:42 AM PST by Kaslin

The big fall-off-your-chair moment during President Obama's State of the Union address came when he proclaimed: "We've cut our imports of foreign oil by nearly 60 percent and cut carbon pollution more than any other country on Earth. Gas under two bucks a gallon ain't bad, either."

Sure, Mr. President. Take a bow for the smashing success of the very domestic oil and gas industry that you have tried to destroy.

Even Obama couldn't carry this off. The smirk on his face as he sang the praises of the oil and gas industry was unmistakable.

Right after Obama boasted of these low gas prices, he reverted back to form, by sermonizing:

"We've got to accelerate the transition away from dirty energy" -- by which he means fossil fuels. Then the hammer came down: "I'm going to push to change the way we manage our oil and coal resources, so that they better reflect the costs they impose on taxpayers and our planet."

So, 30 seconds after toasting lower gas prices, he pledges to find ways to make gas more expensive.

The irony of the Obama war against fossil fuels is that the shale oil and gas revolution in America has saved Obama. During his first term, all the net new jobs created in America came from oil and gas as fracking took off in Texas, Oklahoma, North Dakota, West Virginia, Ohio and Pennsylvania. Obama owed his re-election to the frackers, but instead he and his Environmental Protection Agency have tried to shut them down.

The EPA has issued three regulations in the last year -- the clean power plant rule, the methane rule and tougher clean air statutes -- that have begun to shut down fossil fuel production in America, as planned.

How bad are these rules? According to Harold Hamm of Continental Resources, a major driller in North Dakota: "These rules and red tape are killing us. They are raising our costs at a time when oil prices are low, and margins are already thin. This means layoffs of workers." Obama seems to be doing exactly what the Saudi oil sheiks are trying to do: shutting down fracking in America.

Obama won't allow drilling on federal lands. He wants to raise taxes on oil and gas production. He won't give the go-ahead to the Keystone XL pipeline, or any pipelines for that matter, and he just handed out hundreds of millions of dollars to keep the solar and wind industries from bankruptcy. Other than that, he's pro-oil and pro-gas.

He also neglected to mention that the major reason that U.S. carbon emissions are falling is that cheap and clean-burning natural gas, due to shale drilling, is becoming the No. 1 source of electricity production in America. The lesson: Free markets and innovation are almost always the best way to clean the environment.

If Obama's vision of an American energy future is fulfilled, the price of oil and gas will skyrocket -- again. He'd like that to happen. This is the only possible scenario that makes green energy financially feasible.

One last point about low gas prices. How come when oil prices rise, the entire industry is accused of price fixing to gouge consumers? But if the industry has the monopolistic powers to keep prices as high as possible, why aren't they doing that now? The answer is in the new era of shale oil and gas this a brutally price-competitive industry -- unlike in the past, where the OPEC monopoly was able to fix prices. OPEC can't manipulate prices now, because the U.S. will soon be the world's largest producer. All the more reason to let the domestic oil and gas industry flourish.

For now, Obama, unbelievably, will hog the credit for lower gas prices that he never wanted in the first place, while he finds every way possible to make gas more expensive in the years to come. No wonder voters have grown so cynical of the political class.


TOPICS: Culture/Society; Editorial
KEYWORDS: barack0bama; energy; naturalgas; obama; oil; oilandgas

1 posted on 01/19/2016 10:45:42 AM PST by Kaslin
[ Post Reply | Private Reply | View Replies]

To: Kaslin

“Gas under two bucks a gallon ain’t bad, either.”
he took credit for that, but didn’t take credit for the economy going down the toilet.


2 posted on 01/19/2016 10:47:53 AM PST by I want the USA back (The further a society drifts from the truth, the more it will hate those who speak it. Orwell.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

Letting Iran sell oil will just drive oil lower.


3 posted on 01/19/2016 10:48:21 AM PST by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; We need a second party!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

If anything he kept it high with his oil policies pushed on by the environmentalists and the quashing of the Keystone pipeline. But of course he’ll come out saying how he personally brought down the prices and the MSM will bobble-head agree.


4 posted on 01/19/2016 10:49:22 AM PST by SkyDancer ("Nobody Said I Was Perfect But Yet Here I Am")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

Obama does nothing intentionally to help America.


5 posted on 01/19/2016 10:56:06 AM PST by laplata ( Liberals/Progressives have diseased minds.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SkyDancer

Well, Oboma is right you kniow.

Oil prices went DOWN because Saudi oil princes deliberately are pumping up their output (lowering their oil to waaaaaaay below market values!) to cut the funding off from Obola’s allies Iran, Russia, and ISIS!

The result kills Venezuela (Oboma’s ally), Mexico’s national oil income (Oboma’s ally), the pro-enviro groups (Oboma’s allies) and ... THE TEXAS, OK, ND, PA, and EVERY red state oil job! What’s not to like - especially if low oil prices let the blue states claim “Recovery!” in big headlines.


6 posted on 01/19/2016 11:00:21 AM PST by Robert A Cook PE (I can only donate monthly, but socialists' ABBCNNBCBS continue to lie every day!)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Kaslin

Yea!if it were up to Obama we’d be burning animal dung instead of oil.


7 posted on 01/19/2016 11:02:29 AM PST by puppypusher ( The World is going to the dogs.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

I don’t thank Zero for anything.


8 posted on 01/19/2016 11:09:32 AM PST by austingirl (Sharia, taqiyya, jihad, and hijera- what more do you need to know about islam?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Robert A. Cook, PE
It is an election year. Can't have the overwhelmingly conservative upstream end of the oil industry in a position to make large donations to Conservative candidates, now, can they?

The entire aim of this administration from day one has been to kill off 'fossil fuels' coal, oil, and even natural gas. The foot dragging on Keystone XL, the attack on fraccing, even the attempts to prosecute seven oil companies for 28 bird carcasses found in reserve pits (out of over 6000 producing and drilling locations), all actions of this administration have been aimed at stopping the oil industry. When that didn't work, the Saudis played their trump card, they produced as much oil as possible to knock the bottom out of the market, when prices were already declining. Then the Obama administration 'negotiated' with Iran to remove sanctions on oil production and really knocked the bottom out.

Well, those of us in exploration did our job very well. Gasoline costs half or less what it did when this got going strong, and we're out of work for our troubles. That's an occupational hazard when your job depends on the price of a globally traded commodity you are working hard to produce more of.

But where, oh where is the great recovery we were told would occur when the drilling rigs were laid down and America once again had cheap gasoline? We endured all that invective from 'friend' and foe alike while the prices were high, and now the crickets are drowning out the thanks, while the stock market tanks.

If the economy was doing as well as the lies we have been told, the energy dividend would be making the economy soar. It isn't even taxiing down the tarmac.

9 posted on 01/19/2016 11:25:52 AM PST by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: austingirl

Neither do I.


10 posted on 01/19/2016 12:35:56 PM PST by Kaslin (He needed the ignorant to reelect him, and he got them. Now we all have to pay the consequenses)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Kaslin
"Don't Thank Obama for Cheap Oil"

Comrade dictator obama must lose sleep over the likely economic boom that will follow the election of his Republican successor. Of course, anxiety and sleep loss are what dope is made for.
11 posted on 01/19/2016 10:49:15 PM PST by clearcarbon
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson