Palin: “The Deadly Combination Is the Cost of Oil Going Up with the Devalued Dollar that the Federal Government Does have Control of”
Here is what she said about gas prices and energy:
Palin: I never would have done what President Obama did and that’s engage in that moratorium after the tragedy in the Gulf with the spill. He should have been more sensible in figuring out what the problem was, what the solution was to the gulf spill but not take it out on the rest of the country and prohibit drilling onshore and offshore is what he did. 97% of our offshore area locked up after that and there still is a quasi-moratorium because the EPA is making it virtually impossible for drillers to be out there extracting responsibly the god-given resources that we have domestically.
So that’s certainly a difference that I would have had with President Obama had I been in that chair. I would have said, no, we’re going to allow the domestic drilling and we’re not going to subsidize Brazil or other foreign countries and ramp up production in those countries as we promise that we’ll be their best customer if only they’ll drill more. No, I would concentrate on the domestic drilling here.
Now the President is engaged now in what he wants to get to the bottom of with whether it be collusion, or price fixing, or speculators, what else is driving up the cost. Well he can look at other states like Alaska. We already did a study to find out was it collusion? Was it speculators? What was driving up the last big spike in gas prices? And we found that no, more than anything it is a supply-and-demand, a very basic economic principle, supply-and-demand.
He needs to maybe take the results from other state’s findings, where we have already conducted those same studies, those same investigations, find those results, plug them in, and really get serious about drilling domestically and not looking at subsidizing some of the hare-brained ideas that he has, thinking that green energy is going to solve all of our problems today.
It is extremely difficult and it’s going to continue to be so and you combine the devalued dollar that the Fed has made Americans suffer from and that’s going to get even worse unless Obama intervenes there too.
You combine the devalued dollar with lack of domestic supply and unfortunately, Americans can count on some higher gas prices for awhile here which is so unfortunate. That just weighs down the economic growth that is potential here in America. It really stymies the potential of development in our country.
And of course petroleum products touch every aspect of our life from food stuffs, and fertilizers, and transportation, and plastics, and much of manufacturing. It all has to do with petroleum. So when the price of crude goes up, everything goes up.
Again, the deadly combination is the cost of oil going up with the devalued dollar that the federal government does have control of. You combine those two and unfortunately there’s not a real bright-light at the end of the tunnel here in the very near-future. Not until things change, not until Obama is out of office to be very blunt with you.