Obama’s Bias Against Oil and Gas Hurts Economy, Costs Jobs

Considering the brutal recession, you’d expect the Obama administration to be obsessed with creating jobs. And so it is, say the president and his supporters. The trouble is that there’s one glaring exception to their claims: the oil and natural gas industries. The administration is biased against them — a bias that makes no sense on either economic or energy grounds. Almost everyone loves to hate the world’s Exxons, but promoting domestic drilling is simply common sense.

Contrary to popular wisdom, the United States still has huge oil and natural gas resources. The outer continental shelf (OCS), including parts that have been off-limits to drilling since the early 1980s, may contain much natural gas and 86 billion barrels of oil, about four times today’s “proven” U.S. reserves. The U.S. Geological Survey recently estimated that the Bakken…

Read the rest from Robert Samuelson
The Washington Post:
http://www.washingtonpost.com/
wp-dyn/content/article/2009/05
/03/AR2009050301849.html?h
pid=opinionsbox1

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