Our energy prices continue to skyrocket as the Obama Presidency continues to linger like a malignant tumor in our nation’s body. The question we should be asking ourselves is why? Why are our energy prices so high when we are superheroes of energy production?
Answer: the liberal policies of the Obama administration and the Democrat Party.
While we may be the biggest oil producer in the world, we could be doing even better. During most of the Obama Presidency the government has had our oil production in a chokehold, but they’ve also stamped down on our coal production while increasing subsidies to wind, solar and water power. Sadly all of those “environmentally friendly” options have been big negatives thus far – as none can provide the necessary amount of energy that would make all of the money spent worthwhile.
The U.S. will remain the world’s biggest oil producer this year after overtaking Saudi Arabia andRussia as extraction of energy from shale rock spurs the nation’s economic recovery, Bank of America Corp. said.
U.S. production of crude oil, along with liquids separated from natural gas, surpassed all other countries this year with daily output exceeding 11 million barrels in the first quarter, the bank said in a report today. The country became the world’s largest natural gas producer in 2010. TheInternational Energy Agency said in June that the U.S. was the biggest producer of oil and natural gas liquids.
“The U.S. increase in supply is a very meaningful chunk of oil,” Francisco Blanch, the bank’s head of commodities research, said by phone from New York. “The shale boom is playing a key role in the U.S. recovery. If the U.S. didn’t have this energy supply, prices at the pump would be completely unaffordable.”