-- "Gulf of Mexico energy production is down 16 percent since 2009 and is projected to decrease even further in 2012."
-- "Obama denied the (oil-producing) Keystone XL pipeline permit, which would have created thousands of jobs and provided all Americans with a steady supply of oil from a friendly ally."
-- Obama "also has banned new offshore areas from oil and gas exploration, and recently his administration took one million acres of onshore land rich with oil shale off the table."
The president was right about one remark in his speech: The American people are not stupid.
They see that his green energy policies are hostile to oil and gas drilling. They remember what happened to the $500 million government loan to the Solyndra solar panel company that Obama backed to the hilt, despite warnings from advisers that this was a very shaky enterprise. It fell into bankruptcy, and taxpayers footed the half-billion-dollar loan guarantee bill.
That scandal has come and gone, but there are at least half a dozen other green energy investments being bankrolled by the administration that have run into financial trouble or have failed to live up to Obama's exaggerated promises.
This week the U.S. Energy Information Administration's gasoline price survey put the average price paid by drivers for a gallon of regular at $3.72. It's up to more than $4 in nearly a dozen states.
Gas prices have risen 13 cents in the past week alone, and the average price per gallon is nearly 20 cents higher than two weeks ago, according to the U.S. Department of Energy.
TransCanada, the Canadian firm that sought to build the Keystone XL oil pipeline from Canada to the U.S. Gulf Coast, announced Monday that it will go ahead with plans to built part of the pipeline from Cushing, Okla. (a major terminal where there's a glut of oil), to Port Arthur, Texas. The administration says it is studying the plan. If built, it would transport 700,000 barrels of oil a day.
A national Quinnipiac University poll reported last week that nearly two-thirds of voters (64 percent) supported the XL pipeline that Obama blocked. Only 23 percent opposed it.
What is it about this pipeline that Obama doesn't get?
Bernie Sanders and Robert Reich Are Confused by Economics. And Government. And Reality | Seton Motley