The Ramifications of Obama’s War On Oil

graphic via blrag.com/

Obama’s anti-drilling policy is drastically hobbling the American oil industry, as the Foundry Reports:

The Obama Administration has already presided over the steepest rise in gas prices since the Carter Administration. And like President Jimmy Carter, PresidentBarack Obama has restricted traditional domestic energy development at every turn. According to the Energy Information Administration, President Obama’s Gulf drilling moratorium will cause domestic offshore oil production to fall 13% this year . Absent the Obama moratorium, the EIA had predicted a 6% increase in offshore production from 2010 levels. That means President Obama’s Gulf moratorium alone will cost American consumers 220,000 barrels of domestic oil production a day.

And the drilling moratorium is having an effect on jobs not only in the Gulf, but throughout the United States:

President Obama’s hometown of Chicago is nearly 1,000 miles from the Gulf of Mexico. But like many other communities across the country, it is suffering the consequences of his Administration’s anti-drilling agenda.

Illinois accounted for $376.2 million in shallow-water drilling expenditures over the past three years, according to an analysis by 14 oil and gas companies that spend money on vendors and subcontractors. The bulk of that money—$242.2 million—was spent in the Chicago district represented by Representative Danny Davis (D–IL).

It’s fresh evidence that Obama’s anti-drilling agenda is having a ripple effect across America since last year’s oil spill, claiming jobs not just in Louisiana and Texas but also in communities far removed from the shipyards in the Gulf of Mexico.

The study from the Shallow Water Energy Security Coalition paints a picture of the nationwide economic ramifications. Obama can’t even be blamed for playing politics. Five of the states that benefit most from shallow-water drilling backed him as a candidate in 2008. And Democrats represent many of the congressional districts that stand to lose millions.

The cost in jobs is startling. A new analysis by Louisiana State University professor Joseph Mason projects national job losses at 19,000 from the drilling moratorium, with wage losses at $1.1 billion. About one-third of those jobs are located outside the Gulf region.

Now why would a guy who wants to be re-elected inflict such a damaging policy on the nation?

PrestoPundit, (who no longer blogs) may have hit on the answer in his last post, 12/04/2008, WHO IS BARACK OBAMA? LET ME TELL YOU:

Obama’s relatives on his mother’s side come out of a natural resource extraction business, the oil business in Kansas.  And when Obama came of consciousness his step-father also worked in an extraction business.  Oil again.  Early in his life Obama, growing in Third World Indonesia with something of a Third World Indonesian’s world view, Obama seems to have equated capitalism and the inequality of capitalism with the wealth disparity created by unequal control of the wealth from oil.  We know that Obama’s mother was hostile toward American’s in the business of oil, and both his grandmother and grandfather seemed hostile to or alienated from the values of oil patch Kansas.  If oil = capitalism, we get a better sense of Obama’s life long commitment to socialism and sharing the wealth.

Notice how Obama seems to be “sharing the oil wealth” with Brazil.

Now, with a seven-year offshore drilling ban in effect off of both coasts, on Alaska’s continental shelf and in much of the Gulf of Mexico — and a de facto moratorium covering the rest — Obama tells the Brazilians:

“We want to help you with the technology and support to develop these oil reserves safely. And when you’re ready to start selling, we want to be one of your best customers.”

Obama wants to develop Brazilian offshore oil to help the Brazilian economy create jobs for Brazilian workers while Americans are left unemployed in the face of skyrocketing energy prices by an administration that despises fossil fuels as a threat to the environment and wants to increase our dependency on foreign oil.

For additional information on Crude Oil Prices, Natural Gas Price, or even Nuclear Energy visit Platts.com they are a great source for price assessments in the physical energy markets.

UPDATE:

It turns out Presto Pundit didn’t disappear off the face of the earth, after all.

You can find him at  http://hayekcenter.org and http://blog.mises.org/.

I’ll definitely be checking those out.

Hat tip: Brian B.

Cross-posted at The Minority Report


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5 Responses to “The Ramifications of Obama’s War On Oil”

  1. Bob The Obama Ass Beater Says:

    He doesn’t want to get re-elected. How will he debate the energy issue with Governor Palin and look even remotely credible. This pansy is a one-term Johnny who has built up a slush fund for Dhimmicrats with his billion dollar campaign fund. His mission was to set oil back 20 years and it is mission accomplished. The wealth he has created for Soros is what this is all about— between shorting the dollar, jacking up the price of silver, and the price of oil futures, Soros can buy the United States.

  2. nicedeb Says:

    Oh, is that you, PrestoPundit? Thanks, good to know.

    I’ll add your blogs to my blogroll.

  3. ThinkingMeat · Obama opposes drilling? Another myth busted! Says:

    [...] lying liars of the right would have you believe that Obama opposes any and all drilling for oil. Like virtually everything [...]

  4. Anonymous Says:

    Shalom y’all, I hope you are enjoying these earthquakes and other such disasters. I was given a vision a couple days ago and the reason for the earthquakes is because the tectonic plates, specifically the Pacific “ring of fire” is collapsing into the space created by the removal of the support fluid. We are suffering a mine shaft collapse on a global scale.


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