Thursday, March 8, 2012

President, Oil and Gas

by Ronnie Spangler

Democrats, the media and Obama surrogates are claiming President Obama and his policies can have no impact on the price of oil or gas. If this is true why are Democrats calling for the President to release oil from our strategic oil supply? They cannot have it both ways. If presidential policies and actions have no impact then why add more oil to the world market from our strategic oil reserve?

Here's what I know. When gas and oil prices were this high in 2008 everyone was screaming for President Bush to do something. Democrats in Congress were saying President Bush was allowing speculators and oil companies to gouge Americans. They were all saying President Bush was somehow connected with oil companies and afraid to do anything that might hurt oil company profits.

The media showed endless reports of people selling their blood to buy gas, milk, or food for their babies. They kept asking President Bush, what are you going to do. In May President Bush lifted the executive ban on offshore drilling. The market reacted and the price of oil fell. Congress resisted until Sept when Nancy Pelosi and Harry Reid let the Congressional ban expire. Again the market responded and the price of oil fell. By Dec of 2008 the price of oil was around $75 per barrel and the price of gas was around $1.59 per gallon.

When President Obama took office the price of oil was around $78 and the price of gas averaged around $1.89. President Obama and a Democrat Congress led by Nancy Pelosi and Harry Reid immediately reinstated the bans along the east coast, west coast and parts of Alaska. The price of oil and gas began to rise. After the Gulf coast accident President Obama overreacted by placing a moratorium on drilling in the Gulf. The ban is still in place today and the price of oil and gas continues to rise.

President Bush relaxed the restrictions on drilling and opened up more federal land and increased the number of drilling permits. By doing this, today we are reaping the benefits from increased domestic production. Imagine where we would be today if he had not opened up federal lands and increased the number of permits.

President Obama wants to take credit for the increase in domestic production of oil but the truth is he has rejected all attempts to open federal lands. In fact his policies have decreased the amount of federal land available for drilling. Using EPA he has regulated drilling to the point that it has become almost impossible to open new drilling sites.

For Democrats and the media to say the President has no impact on the price of oil or gas is laughable at best and a flat out lie at worse.

1 comment:

  1. I am very impressed by your blog and would love to interview you for my blog:
    Please see below questions I would like you to answer:

    What are your thoughts about Mitt Romney as a GOP candidate?
    What do you think about Obama and his chances for re-election?
    What do you think will be the main issue in November election?
    How do you think Social Media will play a role in this campaign? and can you compare it to Obama's campaign of 2008?
    What is your opinion of Super PACs and its influence in this race?
    If you have some other thought you would like to share please feel free.

    Thank you so much and kind regards;

    Sergio Veskovic