The Washington Times
With oil prices surging above $100 a barrel yesterday, consumers are realizing they will be paying a heavy price at the pump for the unrest in the Middle East. A perfect storm of foreign and domestic policy choices by the Obama administration has paved the way for European-style energy prices to arrive on these shores. Far from being alarmed, President Obama sees the prospect of $8 a gallon gas as an opportunity.
When it comes to energy, the White House has sought to augment government controls to prevent the “long-term threat of climate change, which if left unchecked could result in violent conflict, terrible storms, shrinking coastlines and irreversible catastrophe,” in Mr. Obama‘s words. Making energy more expensive is exactly what the administration’s “cap and trade” scheme is meant to do. The theory is that pricier power will be used more frugally, which in turn will appease Mother Earth into blessing us with cooler weather. Mr. Obama expressed the same outlook in May when – with oil at $61 a barrel – he signed a memorandum dictating to automakers the kinds of cars they will be allowed to sell. At the time, Mr. Obama noted with trepidation, “The impetus for action would fade when gas prices started to go back down”…
It’s not possible for domestic production to relieve the pressure from international uncertainty. Mr. Obama and congressional Democrats have blocked drilling in places like Alaska’s Arctic National Wildlife Refuge, in millions of acres of federal lands and in offshore locations. Mr. Obama even took advantage of the BP oil disaster to shut down operations in the Gulf of Mexico. Mr. Obama points to the small amount of oil currently produced at home to conclude, “We can’t drill our way out of the problem.” That’s only a true statement as long as the current policies place 67 percent of America’s reserves off-limits.
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