Driving Exxon into the Arms of Vladimir Putin
Recently the Wall Street Journal reported that Exxon Mobil is investing billions to explore for energy in Russia’s Arctic Sea. Yeah, that’s right. Russia. A country now best known for corruption, lack of legal standards…a place where if you get crossways with Vladimir Putin, you can kiss goodbye to your investment, your capital, and sometimes your life.
So why would Exxon risk billions of dollars to drill in Russia, where exploration is far more risky, and costly, than drilling in Alaska’s North Slope?
Credit for that goes to the Obama bureaucracy.
Our bureaucrats and environmental police have told Exxon that they cannot explore for oil in Alaska. That Alaska’s North Slope is off limits. So Exxon is taking the profits they have made in America to create jobs in Russia because we won’t let them create jobs in the United States. And of course, when Exxon starts sucking that Russian crude out of the ground, we’ll be sending our money to the Russians so we can use their oil to heat our homes and drive our cars.
The bureaucrats did the same thing to Conoco when they denied the company a permit to access one of its leases in Alaska’s Petroleum Reserve.
The green beans at the EPA denied a permit to Shell oil to tap a field in Alaska’s Arctic Ocean estimated to contain 27 billion barrels of oil. Because, said the EPA, Shell’s ice breaking vessels might contribute to global warming.
Meanwhile, closer to home, the bureaucrats are dragging their feet on allowing Canada to build a pipeline to the United States so that we can tap some of the 175 billion barrels of oil they recently discovered in Alberta, a mere 700 miles from the U.S. border. So what is Canada doing? Making plans to build a pipeline to the Pacific so they can sell their oil to China instead of us. Why don’t our environmental police want Canada’s oil? They think extracting oil from tar sands will cause global warming.
For a President who claims to be so concerned about creating jobs here in America, it does seem strange to many that he is forcing American oil companies to create jobs on foreign soil.
Last week we read that the U.S. economy did not create a single new job in August. That black teenage unemployment is above 45%. That 27 million Americans are either looking for work or have given up hope of finding any.
So here is an idea Mr. President. Tell the bureaucrats at the EPA to take a long, long vacation. Announce that no more regulations or bureaucratic edicts will be issued for the next five years. Decree that Exxon, Shell and Conoco can drill on U.S. soil after all. And by all means, tell those Canadians they can have their pipeline and sell their oil to us instead of China. By the way, that pipeline will also create some jobs for Americans.
Mr. President, this would be the best job creating stimulus program to come out of your administration since you were elected. Just do it, Mr. President. I’ll be happy to tell everybody it was your idea.