Bill? That would be our former President Bill Clinton talking about oil. And what is he saying about oil?
Former President Bill Clinton said Friday that delays in offshore oil and gas drilling permits are “ridiculous” at a time when the economy is still rebuilding, according to attendees at the IHS CERAWeek conference.Every thing is fine - for now though. And how do we know they are fine? Well US production is up.
Clinton spoke on a panel with former President George W. Bush that was closed to the media. Video of their moderated talk with IHS CERA Chairman Daniel Yergin was also prohibited. …
Clinton said there are “ridiculous delays in permitting when our economy doesn’t need it,” according to Noe and others.
The administration rightly notes that domestic oil and natural gas production have increased since 2008, while imports have decreased.So maybe Bill knows something Obama doesn't know. What might that be?
OK, but: Erik Milito of the American Petroleum Institute told Environment & Energy Publishing, "The increased production levels in 2010 are a credit to the vision of previous administrations." Milito credited the 1995 Deepwater Royalty Relief Act signed by Bill Clinton and passed by a GOP-controlled Congress.
Clinton himself lamented "ridiculous delays in permitting when our economy doesn't need it." The administration didn't issue a permit since the blowout until last month -- and then only after a federal judge's prompting.Civilization runs on energy. In fact the more energy you can run through your system the more civilization you get. So why would our President be trying to strangle future oil supplies? I think you can come to one of two conclusions.
Not to mention the steady job-killing creep of climbing gasoline prices.
There always has been a corner of Obamaland that doesn't appreciate the job-creating properties of cheap fuel. Now-Energy Secretary Steven Chu told the Wall Street Journal, "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe." Chu said that in September 2008 -- and still Obama picked him for the slot.
1. He doesn't understand
2. He does
Cross Posted at Classical Values