NATIONAL CENTER FOR POLICY ANALYSIS
While Obama has not yet been able to stop the fracking technology that is producing an American oil and natural gas boom on private and state owned lands, he has sharply constricted exploration and development on the extensive federally-owned lands and offshore. That is why gasoline prices have doubled since he became President.
The Heritage Foundation explains that under Obama’s policies, the EPA’s:
Proposed limits for carbon dioxide emissions essentially would prohibit the construction of new coal-fired power plants, and force existing ones into early retirement, driving up the cost of energy on American families and businesses.
Then there is Obama’s indefinite hold up of the Keystone XL pipeline, which would simply transport, at no cost to taxpayers, abundant, low cost Canadian oil and natural gas to American Gulf Coast refineries, assuring American access to low cost, reliable oil and gas supplies. But if Canada cannot sell to America through the Keystone pipeline, then they will sell the oil and gas to our emerging rival in China, through pipelines on the Canadian west coast. These policies would deprive America of 50,000 high paying jobs not only for construction of the extensive pipeline networks, but also for the budding boom and rebirth of American manufacturing and associated higher paying blue collar jobs, which the revival of low cost, reliable American energy supplies is producing.
The Heritage Foundation further explains that “higher energy prices shrink production and consumption, resulting in less income for families, more people in the unemployment line and less economic growth.” All of this means that Obama is on track for increasing electricity and other energy costs that are the inevitable result of a constricted supply of low cost, reliable, American energy.