Today, President Obama totally contradicted himself in the same paragraph, but it’s nothing new. He’s trying to claim we’re drilling a bunch of oil as compared to the past, but he’s refusing to tell you the full story, which is not that hard to understand.
I’ve been meaning to reformat this data and post here for some time. It includes data from the U.S. Energy Information Administration (EIA), a government entity which collects data and produces nothing more than Excel spreadsheets (most likely). Lots of oil production data…
Let’s all say the words at the same time … business expenses. You know – expenses – the fixed and variable costs that companies incur as they spend money in an effort to put people to work and make a profit. Politicians are now in the habit of referring to “big oil subsidies” that are really business expenses. Liars…
Gasoline prices are now approaching $4 per gallon, and, in some states they already exceed that amount. We know about the drilling moratorium that still seems to be in place in the Gulf of Mexico, in spite of the fact that it is almost one year after the Deep Water Horizon oil spill. We know that Federal Judge Feldman told the federal government to start issuing permits for drilling in the Gulf of Mexico, but, the Obama administration is still “working” on the issue. Read more
I must say I am not sure I believe the dire predictions but these days anything is possible, as long as the government continue to stick it’s regulatory nose into places it doesn’t belong. And no, my little lefties, more government regulation or even higher taxes won’t solve this problem. Read more
The Don Quixote Plan has fallen flat. In less than three years, more than $80 million was spent on marketing for T. Boone Pickens’ wind turbine power generation plan. After the efforts, Pickens – who made his original fortune in the oil industry – has given up on his grandiose wind farm plan and will focus on natural gas.
George Will asked to comment on the BP $20 billion dollar contingency fund comes back with a classic answer. If you are not worried you should be. His biggest concern is the White House usurping the courts in terms of claims against BP and of course that it’s not exactly voluntary. The Chicago Way.
President Obama has elected to underwrite the cost of offshore drilling – in Brazil – with funds from the U.S. Treasury. So much for working to create energy independence.