Saturday, May 14, 2011

Bull, Baby Bull: Obama to open Alaska petroleum reserve to new drilling

LA Times: Reporting from Washington— President Obama will open Alaska's national petroleum reserve to new drilling, as part of a broad plan aimed at blunting criticism that he is not doing enough to address rising energy prices.

The plan, unveiled in Obama's weekly radio address Saturday, also would fast-track environmental assessment of petroleum exploration in some portions of the Atlantic and extend the leases of oil companies whose work in the Gulf of Mexico and the Arctic Ocean was interrupted by the drilling moratorium after last year's BP oil spill.

The measures come as high gasoline prices and the resulting popular anger threaten the fragile economic recovery and, possibly, the president's reelection chances in 2012. Congressional Republicans and some Democrats have been clamoring for increased domestic production in response to the rising prices, which economists say vary with global demand. [MORE]
If you think Obama is channeling his inner Sarah Palin and has now embraced her Drill, Baby Drill philosophy, guess again. This is just more of Obama's naked political ambition. If it weren't for the fact that high gas prices will sink his election chances, Obama would say anything like this.

Since we know that oil cannot be extracted from any of the places Obama mentioned before election day, this is just more cheap talk. If Obama is reelected in 2012 (God forbid), he will go back on his word faster than he failed to close Gitmo safe in the knowledge that no drilling actually occurred.

The time for America to increase its own oil production is dangerously overdue and playing reelection games with this issue is just plain cruel.

Via: Memeorandum
Via: The LA Times


Thomas Martin said...

As an Alaska resident who pays about 4.20 per gallon, I say good. It may get some people back to work. Although flooding the market with our own reserves might have a more immediate effect. Unfortunately it is too politically expedient for the president to do this now. It's reactionary and could have been avoided.

FIREBIRD said...

These gas prices will be a huge problem if they are still up next year and I think this is causing a bit of panic in the White House - the drilling won't help right away but you have to start somewhere - we also need new refineries or all the oil in Alaska won't do us any good

Thomas Martin said...

True Firebird. One or two new refineries would be good. I hear people talk about it all the time. I guess it's going to take some real loud political activism to push it all through. By the way great blogs.

OldSouth said...

He means not a word of it, be assured.

The EPA will be vigilant to ensure, after the auction proceeds are received, that not one drop of oil is extracted.

Just ask Shell, who dropped 4 billion on the Beaufort Sea project, only to be blocked by one final permit needed.

Energy independence begins by voting Obama and the Dems out, along with the RINO's. And by defunding EPA.

Steve In Tulsa said...

Obama is selling leases not drilling permits. There will be no drilling resulting from this statement

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