Obama’s Plan-High Priced Oil Trumps the Economy

Posted on February 28, 2011

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Obama Shuts Down One-Third of US Oil Supply

It seems that Obama has refused to budge on his mission to bring America to its knees. Since day one of the Obama regime I have said that Obama’s true intentions was to reduce America from the world’s only superpower to an average middle of the road nation. Obama is a citizen of the One world Community. He wants a borderless world. Obama never has believed America is an exceptional nation.

To reach this America third world country goal, Obama ‘s main thrust has been to destroy America’s economy. It started with the handouts, the bailouts. Buying of GM and Chrysler, ramming into law a health care bill that will add billions to the nations’s trillions of dollare debt. Now Obama is strangling America by cutting off the flow of oil.

Obama has stopped any new oil lesases from being issued. America has huge amounts of untaped oil in Alaska, coastal waters and land locked states like Wyoming and the Dakotas.Our economy which is in year 3? of serious unemployment and financial problems cannot afford for the cost of oil and gasoline to go up. The minute improvement in our economy will be crushed and a double dip recession or depression may follow.Obama doesn’t care , remember his goal of lowering America’s way of life until we are just like the rest of the world. Jeffrey Folk of the American thinker had a good post on the oil shut off in his story

Obama Nixes Safe Drilling, here are some of the things he brought up:

It appears that the Obama administration is more interested in kowtowing to environmental donors in advance of the 2012 election than it is in controlling energy prices. Even with a federal court order to decide on new drilling in the Gulf by March 20, the Obama administration remains obdurate.

Despite everything that energy companies have done to devise advanced containment systems, Interior Secretatry Ken Salazar is unwilling to issue a single new permit.

 
By refusing to grant a single deep-water permit in the Gulf, Obama has shut down access to one third of America’s oil supply. With Libyan oil fields now closed indefinitely and with uncertainty about future production elsewhere in the Middle East, it is a dreadful time to be shutting down America’s oil fields as well. Turmoil in Saudi Arabia, Iran, Kuwait, or Iraq would drive the price of oil up above $150 a barrel, at the very least. A prudent policy would be to increase domestic production in light of uncertainty abroad.
 
 
Some Americans are already paying $4 a gallon for gas, but this is not just because of what’s happening in the Middle East. Government action on Gulf drilling permits would immediately calm the oil markets and bring down prices, even though new production would not come on line for several years. But instead of reducing prices, Obama seems is intent on driving them up.
It’s not just the Gulf of Mexico that is off limits. Obama opposes drilling anywhere offshore, including in the rich arctic region which is known to hold billions of barrels of oil reserves.
 
Just as bad, in his FY2012 budget Obama proposes cutting $4.4 billion of annual tax deductions for oil and gas drilling — deductions for depreciation and amortization that date back to 1913. Those tax deductions help energy companies pay for exploratory projects that then result in lower energy costs for all Americans. At a time when Obama is throwing away $100 billion on risky alternative energy boondoggles, a number of which have already gone bankrupt, he wants to end those modest tax advantages that actually result in the production of large quantities of new energy. That sort of accounting only makes sense to a politician.
 
Obama, in fact, is doing everything possible to curtail domestic energy production, and yet he says that “our dependence on foreign oil threatens our national security.” If reliance on foreign oil puts America at risk, why not produce more oil at home? New drilling techniques including fracking, horizontal drilling, and deep-water drilling now make it possible to do just that, but Obama opposes all of these.
 
If the President knows that dependence on foreign oil threatens our national security and that new drilling techniques can increase domestic supplies, why is he intent on destroying our domestic oil and gas industry?   

Only a president who is extraordinarily stupid would fail to see this. Conclusion: Obama is either extraordinarily stupid, or he is willing to trade America’s national security for the support of environmentalist donors who are key to his re-election. Whichever it is, we’re in trouble.

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