I do believe having a more intelligent energy policy would help bring the cost of oil down some. But to blame Obama when little has really changed (as yet) from when Bush was in office is grasping at straws.
Now, if cap and tax gets passed, that's a whole other story.
which was deliberately done to influence the vote...and not done by the republicans but the powers that be behind the socialists.
I've been around long enough to see this game play many elections.
I told my friends not to lock themselves into the high heating oil prices in fear it would go higher. I told them prices would drop rapidly after the election - and they did.
Obama shares some of the blame. Being a member of the party that strangles production, and drives up the cost of refining, restricts offshore and Alaska drilling, and mandates “clean air” formulas at the pump makes him guiltier than Bush. Cheney tried his best to get a rational energy policy underweigh and he was savaged by jerks like Obama for secrecy and other empty rhetorical claims.
Instead of harvesting our sensible resources, Obama is subsidizing fricking windmills.
Maybe it has to do with his planned trillion dollar budgets into the future. With that many cheap dollars floating around, commodities that are somewhat less abundant will rise in price.
Even politicians have a price- expect the cost of bribing them to go up also.
Remember when Bush announced he wanted to open our land for drilling and oil prices went down immediately?
Obama will never let us drill and prices continue to rise. I am perfectly comfortable blaming Obama.
“Now, if cap and tax gets passed, that’s a whole other story.”
RATS blame Bush before, during and after his elections for everything. Time we tried the same trick...;)
Actually oil prices were much lower than today at the end of Bush’s term. But that was because of a collapse in both the stock and bond markets late in 2008 and fears of a global depression.
I don't know what happened with the end of the federal ban on offshore drilling that Bush announced in 2008. But we're facing a looming global oil shortage not far in the future--only about 2-5 years from now depending on how fast demand rebounds from recessionary levels. So Obama should be working now to increase domestic oil production to prevent skyrocketing prices. Instead the administration has tried to implement an absurd cap-and-trade policy and has proposed higher taxes on oil producers.
I've heard a lot of talk from congressional democrats that oil companies aren't producing yet from all their offshore leases in the Gulf of Mexico. Well I follow a lot of oil companies as an investor, and I can tell you that there's a tremendous amount of exploration and production activity and building of infrasturcture right now in the Gulf of Mexico. They are making a lot of significant oil discoveries out there but so far only a couple of mega-discoveries of 3 billion barrels or more that we need to substantially increase domestic production. After discovery it usually takes at least five years to build all the infrastructure needed to produce oil from deepwater discoveries. So we need to open up the Atlantic and Pacific coasts for offshore drilling and hopefully we can find some mega-discoveries offshore just as the Brazilians have done off their coast. We should leave it up to the states to decide where offshore drilling should be allowed. There is no environmental threat from offshore drilling, but it can cause visual problems that affect the tourist industry if oil platforms are too close to shore. I'm sure the state governments can figure it all out and implement good drilling policies.