Obama insisted yesterday that “There is no magic formula to driving gas prices down.” That is true. But there are also things the government can do that will drive the price of gas up. And the Obama administration has done many of them including:
- Immediately after taking office in 2009, Interior Secretary Ken Salazar, canceled 77 leases for oil and gas drilling in Utah.
- The EPA announced new rules mandating the use of 36 billion gallons worth of renewable fuels (like ethanol) by 2020.
- Last summer President Obama needlessly instituted, not one, but two outright drilling bans in the Gulf of Mexico.
- After rescinding his outright offshore drilling ban, President Obama has refused to issue any new drilling permits in the Gulf, a policy that the Energy Information Administration estimates will cut domestic offshore oil production by 13% this year
- Interior Secretary Salazar announced that the eastern Gulf of Mexico, the Atlantic coast, and the Pacific coast will not be developed, effectively banning drilling in those areas for the next seven years;
- The Environmental Protection Agency has announced new global warming regulations for oil refineries;
- Interior Secretary Salazar announced new rules making it more difficult to develop energy resources on federal land.
- The EPA is slowing a pipeline that would expand U.S. access to Canadian oil sands.
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