The Administration’s No New Energy Policy
Currently, 56% of the U.S. trade deficit is the result of oil imports. Two hundred billion dollars of American wealth is transferred overseas every year to countries that don’t like us very much. If current Obama Administration policies don’t change soon these numbers will only get bigger. Regardless of these numbers the Obama Administration only wants to hear about green energy.
By Elizabeth Ames Jones at American Thinker
The loss of hundreds of thousands of jobs along the Gulf Coast is not the only result of this “permitorium.” The shut down of the offshore drilling industry means that future domestic oil production will fall at a time when global demand (from China and India) is rising.
Energy security is only an empty pipe dream if you are banking on sources other than oil and natural gas to do the heavy lifting to fuel America for decades to come. Simply put, there is nothing coming down the pipe that can turn green energy into reality, unless one wants the American people to make sacrifices.
Recently, the President has been speaking out of both sides of his mouth when it comes to production of our energy resources. The message given is “let’s drill” while regulatory hurdles are placed in front of the drilling.
The demand for oil is not going away just because some bureaucrats have the ill-conceived or ill-informed idea that all our energy needs can be met by green energy.
The Department of Defense (DoD) began studying the growth of these emerging economies and late last year published it’s bi-annual report called the Joint Operating Environment (JOE). In that report it states the following:
A severe energy crunch is inevitable without a massive expansion of production and refining capacity. Energy production and distribution infrastructure must see significant new investment if energy demand is to be satisfied at a cost compatible with economic growth and prosperity.
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