Obama’s Oil Abdication
Cuba, Mexico, the Bahamas, Canada and Russia are all moving ahead on projects adjacent to our border Last week the Obama administration proposed a modest expansion of offshore oil drilling in the Arctic Ocean and the Gulf of Mexico in its first concessions on offshore production since last year's Deepwater Horizon spill. The five-year plan would, however, keep Atlantic and Pacific sites off-limits in order to avoid a controversial decision before the 2012 election.As we continue our endless debate on whether we should have more Outer Continental Shelf development and where, all our neighbors have chosen to proceed. Cuba, Mexico, the Bahamas, Canada and Russia are all moving ahead on offshore development adjacent to our borders.Each of those nations has weighed the economic benefits of offshore production against the potential environmental risks. All five have decided it is in their best interest to proceed. This means two things for our nation.First, we fail to boost our offshore production at our own expense. America's neighbors are not drilling for fun or for sport; they've chosen to proceed to create new jobs, generate new revenues, and increase the energy supply and prosperity of their citizens.If America pursues greater offshore development-with appropriate safeguards-the ...
Read more