Key Obama Administration figures have expressed a belief that Americans should paymore for energy – a pattern of actions shows the Administration is, in fact, pursuing anagenda to raise the price Americans pay for energy.
President Obama, Energy Secretary Chu and others have stated that Americanconsumers should pay more for energy, including electricity and gasoline. From a political perspective, increasing the price of energy (by whatever means) helps themmake the case for “green” energy.
Even beyond the effort to raise energy prices through“cap and trade” legislation that Congress rejected, a pattern of increased enforcement,regulatory delay and new hurdles can be seen across numerous agencies and approval processes. The result of this government action is less production, higher costs for producers, and more expensive energy.
While the Administration touts nascent “green” energy technologies, U.S. domesticenergy resources are currently the largest on earth—greater than Saudi Arabia, China andCanada combined.
New developments in drilling and extraction technology have dramatically expanded theamount of total recoverable reserves of oil and natural gas. Much of this, however, maybe put off-limits by the government.
Still trying to capitalize on domestic energy resources, U.S. firms are neverthelessinvesting billions of dollars to tap newly recoverable resources in California, Texas,Colorado and North Dakota, among others.
By 2015, fields in these areas could yield more daily oil than the Gulf of Mexico producestoday, boosting domestic production by 20-40 percent and increasing our energyindependence if government action does not severely restrict development and yields.
Recent Administration action has already led to significant cost and regulatory barriersthat have limited domestic production of oil.
Even before the Gulf oil spill, the Department of the Interior had undertaken significant steps to restrict access to much of the energy resources located in the outer continentalshelf: Alaska, the Gulf of Mexico, and along the Atlantic and Pacific coasts.