For decades, democrats have blocked one effort after another to responsibly develop the energy resources our country possesses, transforming vast areas of opportunity into “The No Zone.”
Because of current U.S. policy, U.S. companies are prohibited from developing oil fields that lie in Cuban waters and come within 50 miles of Florida. However, Cuba is exploring and developing these oil fields, estimated by the U.S. Geological Survey to possess more oil than the Alaska National Wildlife Refuge, and Cuba is partnering with China and other countries, such as Spain, France, and Canada.
The Castro Regime will begin drilling off the coast of Florida this year and will go deeper than the Deepwater Horizon rig that exploded in the Gulf of Mexico in April.
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But, US companies are not so fortunate.
In December the Obama Administration issued a massive new ban on offshore oil drilling in the eastern Gulf of Mexico or off the Atlantic and Pacific coasts. Last month Shell Oil has announced that due to radical EPA policies, they were forced to stop drilling off the coast of Alaska. A village of 250 people 70 miles away may be harmed by emissions.
This weekend, with gas prices around $4 per gallon, President Obama suggested that he may finally allow more drilling in the US.
The American Petroleum Institute released a statement today following Barack Obama’s announcement this past weekend that he might consider more drilling in the United States.
American Petroleum Institute Upstream Director Erik Milito said President Obama’s weekly address could have gone further to capitalize on the opportunities available for American energy production, jobs and economic growth.
“The President has acknowledged the need to increase environmentally sound oil production here in the United States,” said Milito. “While this is a step forward for the national discourse on America’s energy future, we hope that these proposals are only the first in a series towards a more robust national energy plan.
“If given access to key shale reserves, if we can get the oil sands pipeline built that will allow us to import more crude from Canadian oil sands, and if we can access areas of the US that are currently off limits, our industry can create over a million new jobs and generate over $194 billion in revenue for the government in the next 15 years.
“While the president’s strategy includes a couple of positive nuggets, America has two major issues to deal with – jobs and the deficit. Increased taxes will lead to a drop in domestic production, domestic jobs, and domestic revenues. The oil and natural gas industry already supports 9.2 million American jobs and with a dedicated approach to domestic energy production, our industry can put more Americans to work and help decrease the deficit.”
API represents more than 470 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America’s energy, supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $86 million a day in revenue to our government, and, since 2000, has invested more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.
More… Obama’s weekly address was a head fake.