In today’s Wall Street Journal, Louisiana Governor Bobby Jindal argues that Obama “should reverse cabinet-level decisions that are at odds with affordable domestic production. ”
While the president is quick to tell anyone who will listen that domestic oil production is higher today than at any time since 2003, that’s not the whole story. The truth is that today’s production levels are not based on anything this president has done, but on the decisions made by private companies before he took office. And much of this production is taking place on private land.
Because energy prices are driven by a sense of future risk, the president should create a more predictable environment for exploration and production. In an election year, the federal government is now suddenly attempting to reach pre-moratorium—that is, pre-2010 BP oil spill—levels for approving deep-water drilling permits. That’s not enough. The average number of deep-water drilling permits approved monthly by the administration is down by nearly 30% from the historical norm prior to the spill.
The reality is that the Obama administration slowed the permitting process long before the spill happened. Rather than playing catch up, we’re falling further behind. The American people and the oil and gas industry need certainty that energy independence, not politics, will drive our nation’s security.
Read the entire op-ed by clicking HERE.