Since bottoming out at around $32.00 a barrel in December of 2008, Oil prices have gone up 34%. As of this morning, crude is trading at $42.00 a barrel.
On February 5, Chairman Zero’s enviro-leftist Secretary of the Interior, Ken Salazar canceled exploratory leases on 100,000 acres of Federal land that may contain 800 billion barrels of oil.
On February 10th, Salazar delayed the offshore drilling plans approved by the Bush administration so that he could engage in more :”rule-making.” There’s no need for new rules. Off-shore drilling has been done safe and responsibly for decades. What Salazar is really doing is stalling for time so environmental groups can formulate regulations that make offshore drilling cost-prohibitive. Billions in “stimulus” “alternative fuels” subsidies go to figure out how to harness the magickal powers of unicorn farts.
Chairman Zero is also rolling back nuclear power development. His new budget includes a “Cap and Trade” Scheme that would increase electricity costs by up to 400% and cost 4,000,000 jobs. (I guess fewer people working means fewer people “polluting.”)
Environmental extremists have to be pleased with Chairman Zero’s actions. Hugo Chavez, Mahmoud Ahmadinejihad, and the bin Ladens must be thrilled.
For the rest of us, who don’t get to use government provided cars, helicopters, and jets for transportation … and for the tens of thousands of workers who won’t be getting jobs in the oil fields… we should not be happy about this.