1. Key Obama Administration figures have expressed a belief that Americans should pay
more for energy – a pattern of actions shows the Administration is, in fact, pursuing an
agenda to raise the price Americans pay for energy.
President Obama, Energy Secretary Chu and others have stated that American
consumers should pay more for energy, including electricity and gasoline. From a
political perspective, increasing the price of energy (by whatever means) helps them
make the case for “green” energy. Even beyond the effort to raise energy prices through
“cap and trade” legislation that Congress rejected, a pattern of increased enforcement,
regulatory delay and new hurdles can be seen across numerous agencies and approval
processes. The result of this government action is less production, higher costs for
producers, and more expensive energy.
2. While the Administration touts nascent “green” energy technologies, U.S. domestic
energy resources are currently the largest on earth—greater than Saudi Arabia, China and
New developments in drilling and extraction technology have dramatically expanded the
amount of total recoverable reserves of oil and natural gas. Much of this, however, may
be put off-limits by the government.
3. Still trying to capitalize on domestic energy resources, U.S. firms are nevertheless
investing billions of dollars to tap newly recoverable resources in California, Texas,
Colorado and North Dakota, among others.
By 2015, fields in these areas could yield more daily oil than the Gulf of Mexico produces
today, boosting domestic production by 20-40 percent and increasing our energy
independence if government action does not severely restrict development and yields.
4. Recent Administration action has already led to significant cost and regulatory barriers
that have limited domestic production of oil.
Even before the Gulf oil spill, the Department of the Interior had undertaken significant
steps to restrict access to much of the energy resources located in the outer continental
shelf: Alaska, the Gulf of Mexico, and along the Atlantic and Pacific coasts. READ THE ENTIRE REPORT