US Action News

The last thing the US should be doing is helping subsidize Venezuelan socialism through cheaper refined products at the expense of US citizens

Throw in the fact that it seems everybody (governments as well as consumers) is in debt, nobody has any money, credit issues are becoming increasingly burdensome to deficit financing to artificially stimulate growth via the government intervention route, all these factors are forming a perfect storm for the oil market to face some major headwinds for the next 5 years.

From Canada to Colombia to Brazil, oil and gas production in the Western Hemisphere is booming, with the United States emerging less dependent on supplies from an unstable Middle East.

Obama’s crisis is our crisis too as jobs melt away and businesses large and small wait to see how much more damage his proposals will do to the nation’s economy. His solution was to throw a trillion-dollar “stimulus” at the problem in 2009. He has just proposed a half-trillion dollar solution.

Gallup has determined that a majority of Americans favor offshore drilling and a plurality are for drilling in the Arctic National Wildlife Refuge in Alaska (ANWR) with both findings showing increases over last year.

The problem the U.S. faces, of course, is not too much overseas competition per se from adversaries like Cuba or China. It is domestic restrictions and regulations that restrict the nation’s ability to drill for its own oil and natural gas.