President Obama says America can not “drill its way out of the problem” regarding the steep rise in the cost of gas at the pump.
However, allowing more drilling platforms to go on line and deliver production of oil would potentially offer Iranian trading partners a safer alternative to oil produced in Iran. More American domestic fuel production would change the opinions regarding oil prices among speculators. Thousands of Americans involved in the field of oil production could find new, profitable employment. The United States would be less beholden to oil producing nations that operate against American interests and have ties to global terrorism. If President Obama was to take a more aggressive course of action in favor of domestic production of oil and natural gas, he would easily win the support of the majority of Americans. The only people that would take offense would be the few thousand people Obama and his administration cater to, the Green movement.
Imagine how much more affordable the cost of living would be for the average American if gasoline was $2 per gallon again. Domestic fuel production and affordability of oil products is something that all of the Republican presidential candidates are rallying behind in one form or another. Maybe leaders in Washington DC have lost touch with how the value of fuels affects business and the cost of living on a daily basis for the average American. When fuel prices increase, so does the cost of food, electricity, shipping, and personal transportation. Everyone pays more in one form or another.
President Obama should consider how much domestic production of oil and natural gas can help the American economy domestically and abroad.
Imagine how much more leverage the United States would have in terms of economic independence if it was to increase its domestic production and supply of oil and natural gas. The Obama administration, or any other candidate who wins in 2012 should consider the opportunities that can arise for America if trade tension still exists in the Straight of Hormuz. Currently, countries who have major ports near the Straight of Hormuz are selling less of their petrol products as a result of rising military posturing. It was reported in the Wall Street Journal on Wednesday, February 22ndthat there was drastic decrease in the purchasing of petrol products from Dubai, while petrol being sold from Oman, a country with a southern port extending far from the Straight of Hormuz, and an amorphous border with Saudi Arabia, an American trading ally, experienced a large increase in petrol sales. With current American trade allies in good standing, and a greater domestic production of fuels, much of the void being created by a military tense Persian Gulf could be overridden.
Many would agree with President Obama that during an election year, both Democrat and Republican candidates will promise the world, and deliver nothing. Obama speaks of there being “no silver bullet” in terms of reducing the price of gasoline. However, unless one is a die-hard conservationist and an exclusive proponent of green energy, he or she must admit that during this year of record-high fuel prices, it is better to have an aggressive plan to produce more fuel domestically, and to lessen burdensome regulation on the oil and natural gas industry in the United States.
The Obama administration is starting to talk a good game regarding domestic fuel production. Recently, they have stated that they wish to have an “all of the above” approach to domestic energy including further technological development in the field of battery powered vehicles. The Obama administration declares proudly that the United States is producing more oil now than it has in eight years. This may be true, but almost all of the permitting for current drilling was started with the approval of George W. Bush. Furthermore, confidence in American manufacturing is not bolstered by decisions made by the Obama administration, voting against the Keystone Pipeline.