Posted on 03/31/2010 9:25:01 AM PDT by kristinn
What the President announced today at-a-glance:
Cancelled five lease sales off the Alaska coast that were planned over the next 2 years. One of the areas is estimated to hold up to 77 billion barrels of oil, or more than 3 times US reserves.
A study of the southern Atlantic OCS, with the findings due back next year….no leasing.
Delaying a planned lease sale off Virginia until at least 2012.
Washington, DC – Earlier this morning, President Obama delivered remarks at Andrews Air Force Base on offshore energy exploration and production, and what a scene it was. While many newspapers and cable news pundits cheered the announcement as a positive development, we at the Institute for Energy Research caution lawmakers, the media, and the American people from rushing to conclusions until all the facts are on the table. This is a huge step backward for America’s energy security.
Prior to today’s announcement, the vast majority of OCS areas were open for business. No longer. Today, while President may have stated his support for increased energy development in the Eastern Gulf (which requires congressional action) and the Southern Atlantic (which he’ll study over the next year), he also announced that he would delay the development of the energy resources off Virginia's coast and lock up vast resources off the Alaskan coast.
Additionally, those who cheer the President’s newfound support for domestic energy resources should remember that the very same President’s FY 2011 budget proposal includes upwards of $36 billion in new oil and natural gas taxes, which will discourage domestic production, especially in areas like the Southern Atlantic that have little to no existing infrastructure. While today’s rhetoric made for a good news cycle, the policy is not a step forward, but a huge leap backward.
Thomas J. Pyle, president of the market oriented Institute for Energy Research, issued the following statement:
“America’s offshore energy resources belong to the American people. Not a company, not a special interest, and not a single administration. And a clear majority of the American people supports the commonsense strategy of producing more oil and gas here in America. Unfortunately, today, and to our economic detriment, the President once again ignored the will of the American people.
Just as he did in his State of the Union Address, President Obama cited the imperative of offshore energy exploration. But words alone will do nothing to move this country’s energy policy forward in a meaningful way. It’s similar to his announcement on nuclear loan guarantees—the President talked a good game, then eliminated funding for the only nuclear waste repository in the nation.
“In 2008, when Congress and then-President Bush retired the decades-old moratorium on the safe and environmentally sound practice of producing energy miles off the Atlantic and Pacific coasts, the American people, and our economy, scored a huge victory. Unfortunately, what President Obama outlined today puts part of that moratorium back in place. Kicking the energy can further down the road is not a change in policy.
“Canada drills for oil in the North Atlantic. Cuba, Brazil, and Venezuela produce energy in the water to our South. The Russians do the same to our West. Yet, America, the most technologically advanced nation in the world, with the most stringent environmental policies on the books, remains the only nation that imposes burdensome regulations and endless streams of red tape on domestic production. Americans want to stop embargoing our own oil. The president’s plan expands that existing embargo, and Americans will pay the price. ”
BUMP
Thanks!
There is no question about it, 0bama’s is a rabid America-hating piece of fecal matter. It’s becoming increasingly doubtful if this country will even survive another 3 years of this mad man’s corrosive regime.
More meaningless double talk from The One.
bookmark
Thank you for posting. Great article.
So.... who gains from this.
Once again, the Saudi’s and OPEC in general.
and who pays for it..
The American oil/gas consumer.
Time to buy a pellet stove.
Thank you.
You said it for me, CharlesWayne. Obama is not that smart, savvy, competent, canny, or anything else that is attributed to him. All he really has is media cover all day every day. If he had to spend just one day - 1 - fending off the kind of criticism, lies, slander and dirt that Bush faced every day for eight years, Obama’s approval would plummet.
A shot directed at Sarah Palin, no doubt in my mind. Whata child.
In his mind, he is trying to play the poor stupid little conservatives. The knucklehead doesn’t realize more and more people are onto him.
There is a conspiracy here with yet unknown and untapped for hyperbolic content.. The logic of this action by the oil company's escapes me.. but there is a logic somewhere.. Surely there is a journalist award waiting to be picked up.. Not only in Alaska but the entire east coast of the United states has YET to be drilled for resources..
The rest of U.S.. natural gas supplies can be added to that.. on shore and off shore.. Clean abundant natural gas.. can be found all over the U.S... Mostly UNTAPPED... thats why its so expensive..
NOTHING THAT THE kenyan WILL DO WILL HELP ANYTHING... AND EVERYTHING THAT HE DOES WILL CAUSE HARM!
LLS
HE IS DUMBER THAT A BOX OF ROCKS AND ALL THAT HE HAS DONE WAS TO BRIBE, COERCE AND THREATEN... HE IS A STREET THUG... HE TAKES HIS ORDERS FROM SOROS AND OTHER COMMIES.
LLS
Disagree completely. He knows exactly what he is doing, though it may be together with Soros and others. He wants to make the US a third-rate country and to do that by establishing control and power over every aspect of our economy and everyday lives.
Not very many of them left in the Oil Industry, at least not where the rubber meets the road. Who is going to drill the wells and produce them?
He has outstripped any move toward Socialism I had thought him capable of, but then, let's not forget the traitors and sellouts in Congress who have made that possible, especially in November.
That joke congresscritter, Marxine Waters, already let it slip that she wants to “socialize... er... nationalize” the oil companies.
Worked in Venezuela, didn’t it?
Wait, last nite it was on drudge that he was going to allow off-shore drilling all up and down Atlantic coast and Alaska north shore? Then this a.m., headlines are about Cap and Tax by Executive Order, and now this?!!! What is going on??????
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