If the oil rig disaster in the Gulf of Mexico off the Louisiana coast wasn’t bad enough, the Obama administration has managed to make it even worse by placing a moratorium on deep water drilling.
Instead of listening to Louisiana Gov. Bobby Jindal, distressed workers and local politicians telling him not to stop deep water oil pumping for six months, President Obama is taking the advice of his White House Chief of Staff, Rahm Emanuel, who said, “Never let a serious crisis go to waste…it’s an opportunity to do things you couldn’t do before.”
When gasoline prices were nearing $4.00 per gallon, the president said that he didn’t mind prices being that high. He just didn’t like seeing prices rise so quickly. Now he is attempting to raise gasoline prices even higher and blame BP thanks to the “serious crises” in the Gulf. He and Emanuel see this as their opportunity to resurrect the “Cap and Trade” legislation that stalled when Congress lost its appetite for more regulation after the health care bill became law.
The president’s cap-and-trade scheme is to limit carbon and global warming emissions for companies and utilities. Those companies that manage to bring their emissions below a yet-to-be-established “limit” would sell or trade carbon allowances to other companies so that those companies can produce carbon over the mandated limit.
The president argues that implementing a cap-and-trade system would cut the 2005 levels of carbon dioxide emissions that allegedly cause global warming by 20 percent by the year 2020. President Obama intends to use tax money raised from auctioned carbon allowances to support government programs, not to reduce the budget or pay off the debt. The president intends to make corporations pass their cost increases on to you. That way, it’s not technically a tax increase, although the effect is the same.
Interior Secretary Ken Salazar said that stopping deep water drilling in the Gulf’s 33 deep water oil rigs was like pressing the “pause button.” This is despite the inspection of the oil rigs in early May to ensure they were operating properly. The administration doesn’t care that these rigs generate $6 billion dollars annually for the federal government and directly or indirectly employ 150,000 people in the economically depressed region. The decision also means that the U.S. will become even more dependent on foreign oil to fill the void.
Never wanting to take responsibility for his own actions, President Obama actually had the nerve to demand BP pay the salaries of the workers who will lose their jobs because of his crazy moratorium.
BP should pay for its own bad decisions, but not for those made by the president.
The president has stopped deep water drilling because of one accident. That’s like stopping trains because of one derailment. It doesn’t make any sense, and the polls are reflecting Americans disgust with his lack of leadership and poor decision-making abilities during this crisis.
Already the owners of these closed rigs are receiving inquiries from oil producing countries to have them transferred there. If the rigs leave, estimates are that it could be five to 10 years before they would come back to the Gulf – if ever. What incentive would the owners have to move them again when they are already pumping oil, free of unnecessary government regulations?
So long as Congress is hell-bent on further regulating the most regulated industry on the planet, oil companies will do what is right for their shareholders. They will pump oil in countries that actually want to harvest their own God-given natural resources, and sell them to countries like us that don’t.
The president knows the control of Congress will change next January. He’s willing to implement the most radical agenda he can before Democrats hand back the gavel to the Republicans after the November elections.
Americans want to see the country weaned off fossil fuels. Everyone would like cheaper, better, renewable forms of energy. But until that day comes, which won’t be soon, we should use our natural resources and stop importing oil from countries that don’t like us very much.