The price of oil reached a 30 month high of $108 per barrel on April 1.
Almost as if a signal was given, a host of articles appeared recently all saying exactly the same thing.
You Can’t Drill a Way to Cheap Gas
We can’t drill our way to energy independence
The United States can’t drill itself to energy independence
In 2006, Obama said of oil dependence:
We cannot drill our way out of the problem.
All assert that increasing domestic oil supply will have no effect on prices and cannot solve our dependency on foreign oil. All are entirely wrong.
Recently Stephen Hayward of the WSJ described Barack Obama’s oil policy as “incoherent.” That’s being kind.
The US has loaned Petrobas of Brazil $2 billion to drill for oil and Barack Obama recently granted it a permit to drill in US Gulf waters even though Obama has largely shut down US Gulf oil exploration. Obama then told Brazil’s President Dilma Rousseff
“We want to help you with the technology and support to develop these oil reserves safely, and when you’re ready to start selling, we want to be one of your best customers.”
You might be wondering “Why don’t we do that with domestic oil companies and create more jobs here?”
I am.
In 2007 the US imported 3.6 billion barrels of oil which would cost over $380 billion at today’s prices. You might be wondering “Why doesn’t Obama want to keep that money here in the US?”
I am.
Ironically, while Obama claims to want to reduce our foreign oil dependence by one third over ten years his policies are focused like a laser beam on securing and subsidizing additional sources of foreign oil.
Brazil is oil independent. In 1980 Brazil imported 77% of its oil and today imports none. How did they do it?
They drilled their way to oil independence.
Over the last two decades Brazil increased its oil production 876%, mostly from offshore oil production, even as consumption doubled. For some mystical reason Obama, Democrats and the authors above deny that increasing oil supply will result in lower oil prices yet Obama is considering tapping into the Strategic Oil Reserve, which would increase oil supply and guess what?
Lower oil prices. Temporarily, that is.
Obama asserts that it’s in the US interest to seek oil from Brazil:
But President Obama said Saturday during his visit to Brazil that an energy partnership with the nation will offer major benefits for the United States. Obama, in announcing a “Strategic Energy Dialogue” with Brazil, noted that the country has nearly twice the oil reserves as the United States and lauded its stability compared to some other oil-exporting countries.
(emphases mine)
What Obama is not telling you:
BRASILIA (Reuters) – Al Qaeda operatives are in Brazil planning attacks, raising money and recruiting followers, a leading news magazine reported Saturday, renewing concerns about the nation serving as a hide-out for Islamic militants.
Utterly, totally incoherent.
DrJohn has been a health care professional for more than 30 years. In addition to clinical practice he has done extensive research and has published widely with over 70 original articles and abstracts in the peer-reviewed literature. DrJohn is well known in his field and has lectured on every continent except for Antarctica. He has been married to the same wonderful lady for over 30 years and has three kids- two sons, both of whom are attorneys and one daughter on her way into the field of education.
DrJohn was brought up with the concept that one can do well if one is prepared to work hard but nothing in life is guaranteed.
Except for liberals being foolish.