Obama's Energy Policies Are a Boon to Petrotyrants
Editorial, IBD
Wittingly or not, President Obama has contributed to high oil prices by stymieing U.S. production. But if that's the idea, it makes sense to secure energy abroad. He hasn't.In fact, Obama's stated policy, in his March 30, 2011, energy speech has been a crude central planner's diktat of reducing oil imports by a third over the next 10 years and replacing them with increased production of biofuels and other unproven "green" energies yet to be developed.
Wittingly or not, President Obama has contributed to high oil prices by stymieing U.S. production. But if that's the idea, it makes sense to secure energy abroad. He hasn't.In fact, Obama's stated policy, in his March 30, 2011, energy speech has been a crude central planner's diktat of reducing oil imports by a third over the next 10 years and replacing them with increased production of biofuels and other unproven "green" energies yet to be developed.
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