The Assault on Drilling Is Onshore, Too
Nicolas Loris /
Gas prices are nearly 40 cents per gallon higher than what they were last year and show no sign of falling any time soon. Although there are plenty of ideas that could help lower prices, the Obama Administration is doing much more harm than good.
We’ve written in great detail about the Obama Administration’s attack on offshore drilling. They announced that the eastern Gulf of Mexico and the Atlantic and Pacific coasts will not be part of the government’s 2012–2017 Outer Continental Shelf program, effectively banning drilling in those areas for the next seven years. Permits in the areas we can drill are down considerably, and the President’s oil spill commission report recommends new fees and tighter regulations moving forward. As a result, our financially strapped government is unable to collect billions in potential oil revenue.