Categorized | Opinion

Charles Krauthammer: Obama’s Oil Flimflam





Yesterday I put up a rather lengthy post detailing some of Obama’s recent idiocy with regard to his record on energy in general and oil in particular.  Since then, Charles Krauthammer has weighed in on the issue in his column at the Washington Post:

On Obama’s claim that he’s "drilling all over this country":

But the American people know something about this president and his disdain for oil. The “fuel of the past,” he contemptuously calls it. To the American worker who doesn’t commute by government motorcade and is getting fleeced every week at the pump, oil seems very much a fuel of the present — and of the foreseeable future.

President Obama incessantly claims energy open-mindedness, insisting that his policy is “all of the above.” Except, of course, for drilling:

  • off the Mid-Atlantic coast (as Virginia, for example, wants);
  • off the Florida Gulf Coast (instead, the Castro brothers will drill near there);
  • in the broader Gulf of Mexico (where drilling in 2012 is expected to drop 30 percent below pre-moratorium forecasts);
  • in the Arctic National Wildlife Refuge (more than half the size of England, the drilling footprint being the size of Dulles International Airport);
  • on federal lands in the Rockies (where leases are down 70 percent since Obama took office).

But the event that drove home the extent of Obama’s antipathy to nearby, abundant, available oil was his veto of the Keystone pipeline, after the most extensive environmental vetting of any pipeline in U.S. history. It gave the game away because the case for Keystone is so obvious and overwhelming. Vetoing it gratuitously prolongs our dependence on outside powers, kills thousands of shovel-ready jobs, forfeits a major strategic resource to China, damages relations with our closest ally, and sends billions of oil dollars to Hugo Chavez, Vladimir Putin and already obscenely wealthy sheiks.

Obama boasts that, on his watch, production is up and imports down. True, but truly deceptive. These increases have occurred in spite of his restrictive policies. They are the result of Clinton- and Bush-era permitting. This has been accompanied by a gold rush of natural gas production resulting from new fracking technology that has nothing at all to do with Obama.

On our brilliant President’s grasp of Economics 101:

The American people aren’t stupid,” Obama said (Feb. 23), mocking “Drill, baby, drill.” The “only solution,” he averred in yet another major energy speech last week, is that “we start using less — that lowers the demand, prices come down.” Yet five paragraphs later he claimed that regardless of “how much oil we produce at home .?.?. that’s not going to set the price of gas worldwide.”

So: Decreasing U.S. demand will lower oil prices, but increasing U.S. supply will not? This is ridiculous. Either both do or neither does. Does Obama read his own speeches?

On Obama’s asinine assertion that "drilling is not a plan":

Obama says of drilling: “That’s not a plan.” Of course it’s a plan. We import nearly half of our oil, thereby exporting enormous amounts of U.S. wealth. Almost 60 percent of our trade deficit — $332 billion out of $560 billion — is shipped overseas to buy crude.

Drill here and you stanch the hemorrhage. You keep those dollars within the U.S. economy, repatriating not just wealth but jobs and denying them to foreign unfriendlies. Drilling is the single most important thing we can do to spur growth at home while strengthening our hand abroad.

On Obama’s taxpayer-financed fantasies for his crony capitalist buddies:

Our undaunted seer of the energy future has come up with his own miracle fuel: algae.

Why, explained Obama, “we can grow it right here in the United States.” (Sounds like a miraculous local find — except that it grows just about everywhere on earth.) Accordingly, yet another $14 million of taxpayer money will be sprinkled on algae research by Steven Chu’s Energy Department.

This is the very same Dr. Chu who famously said in 2008 that he wanted U.S. gas prices to rise to European levels of $8-$10 a gallon — and who on Tuesday, eight months before Election Day, publicly recanted before Congress, Galileo-style.

Who do they think they’re fooling? An oil crisis looms, prices are spiking — and our president is extolling algae. After Solyndra, Keystone and promises of seaweed in their gas tanks, Americans sense a president so ideologically antipathetic to fossil fuels — which we possess in staggering abundance — that he is utterly unserious about the real world of oil in which the rest of us live.

Read Krauthammer’s entire article here.

 



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  • mder4thegov

    How did we get here (let me count the ways):
    George Bush spent like a drunkin’ sailor–to appease democrats…in order to get them to vote in favor of funding the Iraq war.
    The corrupt, liberal media refused to vet a candidate with a radical past, who intentionally voted present–during his brief stint as a U.S. Senator.
    John McCain, war hero, inexplicably allowed democrats (Schmidt and Wallace) to infiltrate his campaign.
    Finally, economic terrorism, which took McCain from a four point lead in September (despite the incompetence)–to an unnecessary defeat.

  • TEXs

    This is for Romney troll ‘screwed’:

    Yes slimy troll,you got screwed like the rest of libtards and Romney spineless
    RINOs ,since the very moment when Governor Palin made brilliant political
    move and resigned her position.

    Instead of going bankrupt from phony attacks,she deprived liberals and Romney backstabbing

    RINOs of their goals to financially destroy her and her family.

    She went on to become very rich,very powerful to the delight of millions of conservative

    American patriots.

    Eat your rotten hearts out,you low life losers!

  • http://pulse.yahoo.com/_N7HCPR7JLQP6R33GXP5DO5XKDM 1776er

    Obama’s energy policy can be summed up in two words:  Less Oil. 

     (BTW we are producing more oil than evah! in my administration.  But that’s not good.  It’s good but it’s not good.  Got it?)

    Now, there are some economic illiterates who will sit staring glassy eyed, slacked jawed and mouth open while Mr. Hope and Change spouts this idiotic  nonsense into the teleprompter.  They nod their heads in near comatose affirmation.  

    Unh, huh.  Unh, huh.  

    Less oil.  Less demand. Less energy consumption. =   lower gas prices. prosperity. growing economy.  more jobs. more manufacturing.  more agricultural growth. more wealth to redistribute. In my next term. Or shortly after I leave office.  

    Unh, huh.  Unh, huh.

    The real scary depressing world of :   less oil.  less demand for oil.  less energy consumption.  less energy production:

    Less oil.  Less demand.  Less energy consumption =  less energy production. less energy supply. permanent recession or permanently stagnating economy.   less energy dependent manufacturing.  less energy dependent agricultural production.  higher cost of production. fewer jobs.  higher cost of transportation. higher costs at the gas pump.  higher costs at the grocery store.  higher costs at Walmart.  more inflation and stagflation.  currency devaluation. higher import costs.  Higher interest rates.  Higher mortgage rates. less housing production.  fewer jobs. less prosperity. less savings.  less investment.  less wealth to redistribute. higher taxes to pay for welfare state and crony capitalism.

    Say what?  Huh?  Whaaaat?  Duh!

    The real prosperous hopeful optimistic world of :   more oil.  more demand for oil. more energy consumption.  more energy production:

    More oil.  More demand.  More energy consumption = more energy production. more energy supply. accelerating economic growth. more profitable manufacturing sector.  more manufacturing. more manufacturing sector jobs. more profitable agricultural sector.  more agricultural production.  more agricultural sector jobs. more jobs lower cost of production–every sector of the American economy. lower cost of transportation, lower costs at the gas pump.  lower costs at the grocery store.  lower costs at  Walmart. less inflation.  stronger dollar. preservation of savers and retirees purchasing power. more income security.  lower import costs.  more prosperity.  more real wealth creation.  more savings. more capital investment.  stronger, safer more secure  America.  

    More, more, more to spiral up, up, up not less, less, less to spiral down, down, down.  

    Got it?

  • John_Frank

    Doug, thanks for bringing this article to our attention.

  • http://restlessbrainsyndrome.blogspot.com/ viewfromalaska

    I remember Palin’s public complaint when In August of ’09  it was revealed the Obama would loan $2 billion to the Brazilian state-owned oil company Petrobras then promised that we would be their best customer. That was after he shut down the Gulf of Mexico drilling operations.  I also remember these figure written about by Kay Cashman from The Petroleum News:

    "As noted in a recent study by the American Energy Alliance, an industry
    research group, developing our offshore energy resources would create in the
    coming years:
    • $8.2 trillion in additional GDP.
    • $2.2 trillion in total new state and federal tax revenues.
    • 1.2 million new jobs at high wages.
    • $70 billion in added wages to the economy each year”

    Those additions to the economy would be a great way to start clawing our way out of
    this economic problem we’re in.

    Add to this the potential from opening the Alaska National Wildlife Refuge’s 10 billion-plus barrels of oil to potential development, and the 20 billion barrels or so in Alaska’s Chukchi Sea, and there’s an awful lot of easy stimulus to be had.”

    The last thing I remember was a wise crack someone made about Obama forgetting which country he was president of.

  • nkthgreek

    Let’s see, to keep oil prices from going out the roof during an election year, will Mr. Obama deplete the national oil reserves? Just wondering. 

  • cjk09

    Outstanding article. The photo with it is priceless. Wondering whether we can collect photos of BO such as this one and the one with the ‘flat earther’ piece in a montage of ridiculous BO faces under the headline "Obama’s Goofy Energy Policies," with bullet points from the Krauthammer article and elsewhere. Just a thought.

  • dk_in_tn

    Great article. Obama doesn’t get it and doesn’t want to get it.  For Obama it is all about his crony-capitalism and the greenie jobs that are no where near prime time.

  • travelingon

    I agree, you are screwed, if that’s all you’ve got.

  • IsraeliCojones

    Yeah sure, she’s all about money LOL.

    How couldn’t anyone buy her, still? They don’t pay enough, ya think?

  • stevethird

    On the day after Hussein was elected Rush’s lead line was "we are so  ‘screwed’ ". Could this be what he was talking about??

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