Gas prices have nearly doubled since President Obama’s inauguration, and energy analysts predict that more Americans than ever before will pay $5.00 per gallon this year. You might think that with gas prices soaring, he would do everything possible to boost production. You’d be wrong.
Quick Facts on President Obama's Acceleration of Gas Prices
Oil production on federal land fell 11% last year. During the exact same time frame, oil production on private and state-owned land – land beyond the federal government’s grip – grew 14%.
Shortly after Steven Chu professed a desire for European-level gas prices, President Obama named him Secretary of Energy. Italians currently pay about $9.00 per gallon.
The Obama administration imposed a moratorium on drilling in the Gulf of Mexico followed by a "permitorium" with very few permits issued for new drilling. Data from the Energy Information Agency show production in the Gulf of Mexico dropping by 120 million barrels annually from 2009 to 2012.
The Keystone XL pipeline could bring our economy thousands of new jobs and transport 830,000 barrels a day to American refineries. President Obama rejected it.
Drilling plans have historically been approved 73% of the time. For the start of 2012, President Obama has only approved 23%.