Denying Americans their Own Energy
November 27th, 2010 . by iVote
By Alan Caruba.
What kind of government deliberately denies its citizens access to the energy they need to live, to conduct business, to transport goods, to travel, and to just turn on the lights? Answer: The United States of America.
In a letter to members of the G-20, the finance ministers and central bankers of leading industrial nations, President Obama said, “We should make sustained effort to carry through with our groundbreaking Pittsburgh commitment to phase out fossil fuel subsidies.”
The result of such action would give international energy companies in other nations a large competitive advantage while penalizing U.S. oil and natural gas companies.
As Dr. Richard Swier noted recently, “In the U.S., support for the oil and gas industry is largely about investment depreciation rules which are available to many industries.” Energy companies routinely put huge amounts of money at risk to explore, discover, and extract the so-called fossil fuels. Take away the subsidies and the cost of all energy use in the U.S. goes up.
Meanwhile, CNN Money reported on November 12 that “President Obama lifted his moratorium on deepwater oil drilling nearly a month ago, but the government still hasn’t issued any new permits in the Gulf of Mexico. And most analysts say permits will be slow in coming through 2011.” (emphasis added)
Some Good News and Some Bad News
This is great news for Saudi Arabia and bad news for Americans who think we should be accessing our own vast oil reserves. This failure to revive the oil drilling industry in the Gulf comes at a time when the price of a barrel of oil is rising while leaving thousands of oil industry workers in the Gulf States out of work.
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Every time you see some product being sold as “Green”, allegedly safer or beneficial for the environment, you can be sure that it is more expensive than a comparable product that does the same thing without making this claim. 
