The price of a barrel of oil has tripped over the $100 line several times this week. That’s the highest it’s reached since 2008. The price of gas is hovering around $3/gal here in the midwest. There are reports that in CA, it’s hit the $4/gal mark.
The dems are already screaming about gouging and price fixing by “big Oil.” The truth is that we reaping the results of our oil exploration and drilling policies from the last 30 years. A few decades ago, the US was an oil exporter. Today we’re an oil importer.
There is still plenty of oil within the US and off-shore. China and Cuba are drilling in areas where our rigs once stood. How has this happened? EPA policies and those of the leftist White House. Now those wackos occupy the policy positions in the EPA and other government bureaucracies. We are now paying the price of our laziness.
The EPA has crippled our oil production since the 70s spurred on by eco-wackos. The leftists in the White House has taken advantage of the Gulf spill last summer and are ignoring Federal Judicial orders to begin issuing permits for the Gulf.
The editorial below from the Investors Business Daily confirms my point.
Energy: President Obama talks much of moving to sustainable energy. But as he blocks domestic drilling, the reality is he’s outsourced U.S. oil needs to mad-dog dictators like Libya’s Moammar Gadhafi. That’s even less sustainable.Oil prices hit $100 a barrel Wednesday as thousands of Libyans marched in Tripoli. The crazed Gadhafi vowed to fight to “the last bullet,” denouncing his own countrymen as “greasy rats” and turning his weapons of war on 1,000 of them.He also threatened to incinerate his nation’s oil wells as he goes down, an unsubtle suggestion to Big Oil companies operating in his country that they should act to save his regime.As a result, oil is soaring because markets worry that a string of petro-tyrants will go down like Gadhafi and energy may soon become scarce.How did it come to this? U.S. dependence on imports — from dictators like Gadhafi — is a big factor.The problem is that we have no political will to drill. The U.S. has plenty of oil resources. Yet our president seems set on pursuing boutique alternative energy schemes dependent on huge public subsidies.As that happens, U.S. dependence on imports grows.It’s not just Gadhafi who supplies oil, but so many others — from the oligarchs of Saudi Arabia, to the satraps of the Gulf, to the lunatic running Venezuela. All are at high risk of ending up on the business end of revolution, making them unreliable suppliers.“The situation in Libya and the Middle East should serve as a wake-up call to the Obama administration to stop its uprising against domestic oil production,” said Dan Kish of the Institute for Energy Research.“Instead of rushing towards expensive and unreliable ‘green’ energy sources that rely on American taxpayer dollars,” he said, “it is time to stop the embargo against our own American oil supplies.”This includes Obama’s moratorium on oil drilling in the Gulf of Mexico and Alaska, and his subsequent refusal to issue Gulf permits, putting him in contempt of court.America’s energy needs are 17 times greater than they were 50 years ago, according to the Energy Department. But U.S. output of domestic energy has fallen by 40% in the same period.That’s a sorry picture given that the U.S. is surrounded by offshore oil and has 200 years’ worth of shale oil on the mainland. Fact is, Obama’s suppressing oil production here. And whether he knows it or not, he’s outsourcing our energy future to the devil. Now we’ve been handed the bill, and the devil wants his due.Energy: President Obama talks much of moving to sustainable energy. But as he blocks domestic drilling, the reality is he’s outsourced U.S. oil needs to mad-dog dictators like Libya’s Moammar Gadhafi. That’s even less sustainable.
It’s obvious what must be done—if we have the courage and guts to do it.