Obama's Oil Crisis and Americans' Pain at the Pump
Yesterday, oil prices surged past $100 per barrel. A barrel of oil cost $45 when Barack Obama was inaugurated president on January 20, 2009. In recent months, every driver in America has experienced sky-rocketing gasoline prices and most of the increases are due to Obama's left-wing anti-energy exploration policies.
It has been almost a year since the president shut down oil exploration after the oil spill in the Gulf of Mexico exacerbating gasoline prices at the pump. "The Wall St. Journal" editorial on January 13, 2011, reported that forecasters "predict domestic production (of oil) will fall at least 13% this year." Noone can be blamed for that except the president of the United States.
On the day Obama was inaugurated a little more than two years ago, the average price of a gallon of gasoline in the United States cost $1.83. Yesterday, the average cost of a gallon of gasoline was $3.23, a whopping increase of 76%. On George Washington's Birthday last Tuesday, the cost of a barrel of oil increased by 8%.
If any more proof is needed that there is a worsening Obama oil crisis, it was provided this past week as the price of a barrel of oil reached the highest in Obama's presidency. America experienced an increase of $14 in the cost of a barrel of oil in just one week to $98 after the one-day surge to $100/barrel.
Last week, Federal Judge Martin Feldman handed the president a stinging rebuke for his administration's failure to act on permits for deep-water drilling in the Gulf of Mexico. Judge Feldman ruled that the Obama administration has 30 days to decide whether to grant a set of 5 permits for deep-water drilling in the Gulf. In a "Wall Street Journal" article on Feb. 18, 2011, Rep. "Doc" Hastings, R-WA was quoted saying: "The president's defacto moratorium is destroying American jobs, hurting our economy and forcing businesses to move overseas."
The Obama administration's announcement on Dec. 1, 2010, that there will be a continued off-shore drilling ban on the East coast and in the Gulf off Florida for an incredible 7 more years -- all the way to the year 2018 -- ensures that Obama's oil crisis continues until his last day in office, which increasingly looks like January 2013.
The Louisiana Governor who many Americans would love to see replace Obama that January, Governor Bobby Jindal, complains: "We're now the only country in the world that isn't doing new offshore drilling." The price of a gallon of gasoline on November 2012 could well determine if Barack Obama is reelected.