Gas

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“Need a sure sign that rising gas prices are worrying the Obama White House?

Note last week’s public humiliation of Energy SecretarySteven Chu.  Asked at a Senate hearing about his infamous 2008 statement that “somehow we have to figure out how to boost the price of gasoline to the levels in Europe” — to force Americans off fossil fuels and into alternative energy — Chu meekly said: “I no longer share that view.”  He added: “Of course we don’t want the price of gasoline to go up, we want it to go down.” But just one week before, in a House hearing, when asked if the “overall goal is to get our [gasoline] price down,” Chu responded: “No, the overall goal is to decrease our dependency on oil.””

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“President Obama incessantly claims energy open-mindedness, insisting that his policy is “all of the above.” Except, of course, for drilling:

●off the Mid-Atlantic coast (as Virginia, for example, wants);

●off the Florida Gulf Coast (instead, the Castro brothers will drill near there);

●in the broader Gulf of Mexico (where drilling in 2012 is expected to drop 30 percent below pre-moratorium forecasts);

●in the Arctic National Wildlife Refuge (more than half the size of England, the drilling footprint being the size of Dulles International Airport);

●on federal lands in the Rockies (where leases are down 70 percent since Obama took office).”

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“Well, which do you think weighs more heavily on oil markets when determining prices? That oil companies have been able to boost production on private lands, despite Obama? Or Obama’s thwarting of the industry whenever he’s had the chance?

Obama has cut production in public areas by 8%. He continually smears oil companies, and threatens them with $4 billion in new taxes. He reflexively kowtows to environmentalists by, among other things, killing the Keystone XL pipeline.

And unless Obama puts a leash on his EPA, it’s going to get much, much worse. A study released Thursday by the American Petroleum Institute found that the onerous gas and oil production rules the EPA is preparing will cut production by 37%.

Meanwhile, oil markets are smart enough to know that Obama’s claim that we can fix our energy problems by throwing billions of taxpayer dollars at politically correct “green” sources is pure folly. Even his own Energy Dept. admits that renewable energy will count for a fraction of the nation’s supply as far out as 2035.”

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