Posted on 02/05/2013 1:22:35 AM PST by neverdem
In the black days following the Obama administration's inaugural revels, some good news is always welcome. And the WSJ has just furnished us with some good news, indeed.
The news concerns the growth of American oil production. Last year, it increased by the largest amount since we started domestic production back in 1859. In fact, production was up by nearly 780,000 barrels per day (bpd), making our average production the highest in...
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Nor has the Obama administration in any way lessened or even just held constant the onerous regulatory barriers the oil and gas producers have to overcome to extract and refine their products. On the contrary, Obama has increased massively those regulations across the board, with the especially aggressive EPA fighting fracking all the way. Of course, this is nothing compared to the fury it has directed against coal!
Nor yet has this green administration shown any willingness to open up more of the huge expanse of federally owned land -- the federal government owns about 650 million acres, or about 30% of the land in this country -- to leasing for fossil fuel production. No, quite the reverse: it has locked up even more vast areas of the country as wilderness areas, and clamped down on Gulf leasing. The explosion of production is taking place on predominantly private property.
The credit for the growth in our energy production goes solely to the private corporations that have surmounted all of the hurdles this green regime has put in its way.
Imagine what a truly honest and pro-energy administration could accomplish. It could develop a gusher of revenues from dramatically increasing the leasing and -- even better -- the outright sale of modest amounts of public lands to energy developers who could eliminate our budget deficit without raising taxes.
(Excerpt) Read more at americanthinker.com ...
And the price of gas is still double it was when 0bama took over
Barack Hussein Obama. The NO JOBS president
Just keeping pace with food...
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