Economics, Energy and the Environment

Obama and gasoline prices: Has the president really pursued an ‘all of the above’ strategy?

President Obama said yesterday that there is no light at the end of the tunnel:

You know there are no quick fixes to this problem. You know we can’t just drill our way to lower gas prices. If we’re going to take control of our energy future and can start avoiding these annual gas price spikes that happen every year — when the economy starts getting better, world demand starts increasing, turmoil in the Middle East or some other parts of the world — if we’re going to avoid being at the mercy of these world events, we’ve got to have a sustained, all-of-the-above strategy that develops every available source of American energy. Yes, oil and gas, but also wind and solar and nuclear and biofuels, and more.

Treasury Secretary Tim Geithner said pretty much the same thing this morning on CNBC. This is the phrase from Obama that I really can’t get past: “You know we can’t just drill our way to lower gas prices.”

How would he know? Give us the damage report, Conn Carroll of the  the Washington Examiner:

– Immediately after taking office in 2009, Obama canceled 77 leases for oil and gas drilling in Utah.

– In January 2010, Obama issued new regulations making it more difficult to develop energy resources on federal land.

– After the BP oil spill, Obama needlessly instituted, not one, but two outright drilling bans in the Gulf of Mexico.

– After rescinding his outright offshore drilling ban, Obama then refused to issue any new drilling permits in the Gulf, a policy that the Energy Information Administration estimated would cut domestic offshore oil production by 13% that year.

– Under Obama, in 2010 the federal government issued the lowest number of onshore leases since 1984.

– Under Obama the federal government has leased less than half of the offshore acres that President Clinton did.

– The Obama administration held just one offshore lease sale in all of fiscal year 2011. President Bush’s energy plan called for five.

–  Obama is also blocking access to 19 billion barrels of oil in the Pacific and Atlantic coasts and the eastern Gulf of Mexico, another 10 billion barrels estimated in the Chukchi Sea off the Alaskan coast, and another 10 billion barrels of oil in the Arctic National Wildlife Reserve.

Don’t drill, baby, don’t drill! Indeed, if we increased drilling every time someone in Washington said no “quick fixes,” we’d be pumping a lot more oil today.

4 thoughts on “Obama and gasoline prices: Has the president really pursued an ‘all of the above’ strategy?

  1. As I said before, the writing is on the wall; it’s pres. Geithner, vp Bernanke & co and lil’ puppet O’Bowman… the first wholly-owned zio-prez.
    All who could, should make their case to voting all these crooks out of office on November or the US will soon follow the USSR, oil or no oil.

  2. Gas is so expensive because price agreements are not based on love you neighbor as yourself but how can I get the most out of it. It seems like the USA is one of the smartest countries when it comes to selfish profit. So I assume that the gas price would be at least as high if most of the oil came from the USA.

    Watch my video: What Exactly Is Evil About the 1%?

  3. Iran faces a delicate issue. On the one hand it wants to show the world all it’s got and put it at ease, while on the other hand it fears that such show ‘n tell will give its enemies a roadmap to bomb it.
    Saddam Hussein faced a similar dilemma ten years ago. Though he wanted the world to know he had nothing to hide, he also wanted to bluff his archenemy Iran into believing Iraq still had WMD.
    Bluffing did not go well for Saddam, and it might not go well for Ahmadinejad.
    But since the price tag for ridding Saddam proved high, maybe we ought to reflect what we are asking of Iran now. On the eve of a threatened attack, we are asking it to take us to the depths of its arsenal and show us all it’s got.
    Such great expectations are a sign we have been talking to our friends too long and are in need of a broader perspective. Exactly when was the last time we asked Pakistan, India, China or Russia to show us their arsenal?
    “But those countries are not advocating the destruction of Israel.”
    True, but Israel is not a thorn on their side either.
    Surely, however, we can see beyond the hyperboles and figure out their underlying purpose. Or have we forgotten that not all Iranians are thrilled with Ahmadinejad?
    He sure hasn’t.
    Nor has he forgotten that that his countrymen hate Israel even more. So he tells them that Israel will be wiped from the face of the earth. Expectantly, this nonsense unites them against a common enemy. It is even a diversion from the misery and isolation brought on by his theocratic regime.
    Quite clever work by Ahmadinejad — and not a rial spent or a bullet fired.
    So why are we letting the crazy talk about destroying Israel get us all worked-up — to the point of turning the world topsy-turvy again.
    Can we not see the desperate attempts of an unpopular regime simply trying to hold on?

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