published Monday, March 26th, 2012

Obama, Democrats in Congress imposing an artificial energy blockade

The United States cannot do much about it if a hostile oil-producing regime such as Venezuela's decides to stop selling us its oil.

We also don't have a quick and easy solution when unstable, radical Muslim nations such as Iran issue threats to do things such as close the important Strait of Hormuz, through which much of the world's oil passes.

And we cannot help the fact that growing economies in places such as India and Communist China create greater demand for the world's oil supplies, driving up prices.

But we can make the decision to expand environmentally responsible, safe oil drilling in frozen, barely populated areas of Alaska. And we can agree to build a job-creating pipeline to bring oil from friendly Canada to U.S. refineries. Or at least we could if President Barack Obama and congressional Democrats weren't standing in the way.

Unfortunately, they are. On a mostly party-line vote, Democrats in the Senate killed a measure that would have allowed the Alaska drilling and that would have approved construction of the Keystone pipeline from Canada. And even if Congress had approved the bill, the president surely would have vetoed it, keeping us needlessly dependent on oil from unfriendly nations.

So does it surprise anyone that we're paying in the neighborhood of $4 for a gallon of gas nowadays?

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nucanuck said...

Dirty Canadian tar-sands oil is not paying its fair share for the environmental clean-up that it is required. Also the Canadian federal government subsidizes the production of tar sands oil (and the TFP opposes all energy subsidies). Those two factors are going to put strong upward cost pressure on tar-sands oil production in the near future.

Canadian oil may be available for the US market, but it won't help reduce the price at the pump. Gasoline is in a long-term bull market.

March 26, 2012 at 1:29 a.m.
librul said...

"The United States cannot do much about it if a hostile oil-producing regime such as Venezuela's decides to stop selling us its oil."

Yeah - the free market's a real bitch, huh.

Viva Chavez!

March 26, 2012 at 7:48 a.m.
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