President Obama’s Conflicted (to say the least) Oil Policy and Pronouncements
Strap in; it’s a roller coaster ride.
High gasoline and oil prices are bad.
Obama, speaking at a San Francisco event for donors, called rising gasoline prices an economic drain on drivers and said curbing oil reliance is a “national security imperative.”
High gasoline and oil prices (if they are gradual) are good.
I think that I would have preferred a gradual adjustment. The fact that this is such a shock to American pocketbooks is not a good thing. But if we take some steps right now to help people make the adjustment, first of all by putting more money in their pockets, but also by encouraging the market to adapt to these new circumstances more rapidly, particularly U.S. automakers…
Action signaling that the President favors domestic drilling:
the administration has approved 39 new shallow-water permits as well as seven recent deepwater permits and is pushing for more production.
A three-inch lizard that thrives in desert conditions could shut down oil and gas operations in portions of Southeast New Mexico and in West Texas, including the state’s top two oil producing counties.
Called the Dunes Sagebrush Lizard, it is being considered for inclusion on the federal Endangered Species listing by the U.S. Fish and Wildlife Service.
[We don’t need to actually use the lizard’s tail to drill for oil, as Glenn Beck has advocated. But let’s not continue down the path of madness of putting animals ahead of the vital needs of human beings.]
Statement affirming that the level of oil supply globally is adequate.
It is true that a lot of what’s driving oil prices up right now is not the lack of supply. There’s enough supply. There’s enough oil out there for world demand,
Statement strongly implying that the level of oil supply globally is not sufficient.
President Barack Obama on Tuesday urged world oil producers to lift crude output
Higher oil prices are good if fueled by an expensive, artificial carbon-control mechanism.
In a speech prepared for delivery in Portsmouth, N.H., the Illinois senator said the cap-and-trade plan would be the centerpiece of a wide-ranging set of measures designed to cut emissions of gases tied to global warming and weaning the United States off of dependence on oil. …
Obama’s plan would require all credits to be purchased at auction, rather than allocated by industry — a move his campaign said would ensure that all polluters pay for every ton of emissions released.
[… and also ensure that all consumers unnecesarily pay more for every joule of energy they need.]
Higher oil prices are bad if driven by capitalism and speculators.
President Barack Obama on Tuesday blamed speculators for driving gasoline prices higher and straining American consumers, saying there was enough oil in world markets to meet demand.
Wheee! That was fun! (… er, does anyone understand the President’s stance on oil?)