IER : OPEC 1, USA 0
Last year, the Obama Administration placed a moratorium on drilling in the Gulf of Mexico. After that ban was lifted, they left a permitorium in place so that American energy companies were still unable to return to work in the Gulf.
The Obama Administration insisted that the rapid decline of oil production due to their anti-drilling policies would not affect the price of oil because we could just rely more on the dictators at OPEC to give us oil.
Unfortunately, OPEC's meeting shows why President Obama's policies are so misguided. The cartel's meeting apparently turned into a fiasco, not surprising to hear about a gathering of some of the world's most hostile regimes. Despite growing global demand, the group decided that they will not raise oil production for the remainder of the year.
In response, Thomas Pyle, president of the Institute for Energy Research, issued the following response:
“When will President Obama finally admit that he is directly causing a national, Washington-created disaster? Less than one year ago, the Obama Administration was telling the American people that their anti-drilling policies were no big deal – we can just get more oil from OPEC. Until this Administration reverses its senseless energy agenda, which is deliberately leading to higher energy prices, we can expect more of the same in the future from OPEC.
“America is home to over 150 billion barrels of oil. There is only one thing preventing the American people from accessing these resources: the Obama Administration. Hopefully today will be a reality check for those in Washington who believe that American energy production can be replaced with a reliance on state-run energy companies in unstable region of the world.”
Follow us and post your comments: in Twitter Facebook
The Institute for Energy Research (IER - Founded in 1989) is a non-profit organization that conducts original research and evaluates public policies in energy markets.
Petroleumworld does not necessarily share these views.
Editor's Note: This commentary was originally published by big peace.com , on June 10, 2011. Petroleumworld reprint this article in the interest of our readers.
All comments posted and published on Petroleumworld, do not reflect either for or against the opinion expressed in the comment as an endorsement of Petroleumworld. All comments expressed are private comments and do not necessary reflect the view of this website. All comments are posted and published without liability to Petroleumworld.
Use Notice: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of issues of environmental and humanitarian significance. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml.
All works published by Petroleumworld are in accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.Petroleumworld has no affiliation whatsoever with the originator of this article nor is Petroleumworld endorsed or sponsored by the originator.
Petroleumworld encourages persons to reproduce, reprint, or broadcast Petroleumworld articles provided that any such reproduction identify the original source, http://www.petroleumworld.com or else and it is done within the fair use as provided for in section 107 of the US Copyright Law.
If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. Internet web links to http://www.petroleumworld.com are appreciated
Petroleumworld News 06/10/2011
Follow us in Twitter
And post your comments in our Facebook site
Petroleumworld welcomes your feedback
and comments, share your thoughts on this article,
your feedback is important to us!
We invite all our readers to share with us their views and
comments about this article, write to firstname.lastname@example.org
Copyright© 1999-2010 Petroleumworld or respective author or news agency. All rights reserved.
We welcome the use of Petroleumworld™ stories by anyone provided it mentions Petroleumworld.com as the source. Other stories you have to get authorization by its authors
Send this story to a friend Any question or suggestions,
please write to: email@example.comBest Viewed with IE 5.01+Windows NT 4.0, '95, '98, ME,
XP, Vista, W7 +/ 800x600 pixels