Gas prices are headed up and the conventional wisdom in the mainstream media explains the increases as attributable to “uncertainty” caused by political unrest in the Middle East, especially Libya.
But the truth is, even if Libya stopped exporting any oil, the U.S. gets less than two percent of its imported petroleum from there.
By contrast, there is no uncertainty about what is happening here in the U.S. as President Obama, Interior Secretary Ken Salazar, Energy Secretary Steven Chu, and EPA Administrator Lisa Jackson are doing everything in their power to make it more difficult to find and produce our incredibly abundant domestic energy supplies.
The result – as their policy intends – is energy prices head upward.
The Energy Information Administration (EIA) released its latest short-term outlook earlier this week and, while acknowledging that there are “a variety of factors” that influence its projections, the stark truth is seen in its prediction of where oil production in the Gulf of Mexico is headed:
Less U.S. production means more foreign imports and higher prices for consumers. But that is precisely the result sought by the Obama policy.
House Natural Resources Committee Chairman Doc Hastings, R-WA, says the message from those projections is clear, no matter how EIA tries to avoid saying it:
You can read the full EIA report here.
