◼ During our historically slow economic recovery, the energy industry has been a bright spot amid otherwise gloomy economic news. Domestic energy production is increasing, and jobs are beginning to spring up around new energy construction. - Politico
President Barack Obama likes to take credit for this energy boom, but in reality, recent U.S. energy growth is largely a result of private-sector investment and policies put in place by his predecessors. The energy policies this president has adopted are jeopardizing the progress we have made, and if he continues them, the U.S. energy boom could soon be over.
Moreover, the president’s policies are driving up energy prices for consumers. Gasoline prices have already doubled under Obama — the 2011 average of $3.50 per gallon was the highest annual average ever recorded — and they are expected to increase even further in 2012, with some predictions suggesting $5 per gallon by the end of May. If the president continues to restrict access to domestic energy resources and drive up the cost of production, energy prices will continue to worsen.
Over the past three years, the president has systematically discouraged new energy exploration and development. More...