More Economic Suicide: Obama Administration Bans Offshore Drilling For 3 Years
In 2009 Democrats scrapped oil and gas leases in Utah, permanently banned drilling in the Arctic National Wildlife Refuge (ANWR), and nixed offshore drilling.
For decades Democrats have blocked efforts to responsibly develop this nation’s energy resources, transforming vast areas of opportunity into “The No Zone.”
A recent study examined the cost of these democratic policies of not drilling and developing domestic oil reserves. The SAIC Corporation discovered that democrats will cost the US $2.36 Trillion through 2029.
Our secretary of energy pushes bio-refineries and windmills to oil executives at an energy conference as the administration announces a three-year offshore drilling ban. This is a policy for economic suicide.
They don’t qualify as an official group of victims, but carbon-Americans, as they have been called, did not have much to cheer about last week, when Energy Secretary Steven Chu addressed CERAWeek 2010, a premier industry conference hosted by IHS Cambridge Energy Research Associates.
With an economy struggling to regain sound footing, Chu advocated a starvation diet devoid of additional fossil fuels that are to remain under the ground and seabed. Instead, he supports 53% more funding for wind research and a 22% jump for solar research.
Subsidizing alternative energy fits the classic definition of insanity. Despite huge subsidies, it has proved to be neither cost-effective nor a reliable, significant contributor to our national power grid. Yet we keep subsidizing it, expecting a different result.
“Oil is an ideal transportation fuel, so it will be with us for decades,” Chu conceded, even as the administration forbids us from getting more of it here, creating energy jobs, lowering energy costs and cutting our trade deficit. Instead we’ll rely increasingly on foreign and often unfriendly suppliers.
Chu acknowledged the role cleaner-burning natural gas can play in electricity generation, but only as a “transition to other fuels” in coming years. And the administration continues to gobble up lands where it might be found and impose environmental regulations that curtail the use of new technologies such as fracking to get more oil and natural gas from America’s vast shale deposits.
Can we all agree now that this administration is purposely trying to destroy this nation?