Friday, March 4, 2011
The Wall Street Journal seems to be getting more and more Fox-like by the day. This article connects Obama's energy policies to sky-rocketing gas prices. It goes on to say that his restrictive drilling policies are partially to blame for the prices and that lifting those restrictions will lower gas prices. This is just patently untrue. The U.S. Energy Information Administration has repeatedly reported that increased domestic drilling would reduce gas prices by only 3 cents, by 2030! (http://climateprogress.org/2011/02/01/eia-new-offshore-drilling-will-lower-gas-prices-in-2030-a-few-pennies-a-gallon/) Not only that, but increased domestic drilling would not make us energy independent because 1. oil is sold on a world market 2. we could never know where the oil we consume is coming from and 3. we will always consume more oil than we produce.
One could argue that increased drilling could increase employment or increase profits of oil and gas companies, but it is dishonest to say that it would in any way decrease gas prices in the short term or even significantly in the long term. It works well politically for the GOP to say that gas prices are high because of Obama (because it hurts Obama, while promoting the oil industry), but that talking point shouldn't be parroted along by any media source, left or right. What do you WSJ readers think?