Sunday, March 13, 2011

At least he's blaming somebody besides Bush

In his Friday press conference to discuss gas prices, President Obama was rather defensive, straining to counter the notion that his administration has been unfriendly to oil drilling, something most people would like to see a lot more of these days.
Where do people get that notion? Perhaps his Interior Department appealing a judge’s ruling that it act on several pending deepwater permits had something to with it.
Obama claimed repeatedly that he is not against drilling, then made the following comments:

There is more we can do, however. For example, right now, the (oil) industry holds leases on tens of millions of acres — both offshore and on land — where they aren’t producing a thing. So I’ve directed the Interior Department to determine just how many of these leases are going undeveloped and report back to me within two weeks so that we can encourage companies to develop the leases they hold and produce American energy. People deserve to know that the energy they depend on is being developed in a timely manner.

In other words, Obama is arguing that the oil companies themselves may be to blame for the fact that there isn’t more drilling. For some reason they’re ignoring making a profit. It’s a bizarro-world inversion of the usual complaint against oil companies — that they are reckless and all-too eager to despoil pristine lands in search of black gold.

For the entire article go here.


TexasFred said...

They say great minds do indeed think alike...

My post today:
New report says U.S. has largest fossil fuel reserves in world

And I have long wondered, WHY IN THE HELL are we NOT drilling??

JeffH said...

The more oil the oil companies pump, the lower the price will be. I heard last week that refineries are only producing at about 82% right now. So no need or incentive to pump more right now. I'd be willing to bet that it is cheaper for the oil companies to drill just about anywhere else besides the US, due to dramatically lower wages elsewhere. Of course they don't want to drill here in the US if they don't have to.