Tuesday, September 14, 2010

Obama Moratorium: Hurts American Jobs and American Sovereignty

A blow struck against energy independence and jobs is a blow struck against U.S. sovereignty. President Obama’s latest oil drilling moratorium makes the U.S. even more dependent on foreign governments.

On March 31st President Obama made an announcement that seemed to open oil drilling restricted areas in an effort to foster the U.S. economy and end U.S. energy dependence on foreign oil. In the fall of 2009, British Petroleum drilled Macondo well in the Gulf of Mexico, and April 20th, 2010, the well blew killing eleven workers and polluting the Gulf waters.

On account of the disaster, the Secretary of the Interior fired the Minerals Management Services head Ms. Elizabeth Bernbaum. And recently, the President has placed a new moratorium on deep water drilling.

While the President Obama has put a moratorium on drilling, the U.S. Export Import Bank is providing a Brazilian company with resources to drill for oil for Brazil. Unfortunately, the Deepwater Horizon disaster shut thousands of jobs in the fishing and tour industry. According to Louisiana officials, the new moratorium will eliminate 40,000-100,000 American jobs.

At the same time, Cuba opens its coastal shores to deep water drilling. A Spanish oil company Repsol plans to begin drilling in 2011 and reports indicate that Russia and China are also planning to sign leases for deep water drilling. Much to U.S. chagrin, Cuba can officially allow drilling within 45 miles of Florida’s Key West. The drilling location is currently planned for approximately 65 miles south of Key West.

The U.S. receives one-third of its domestic oil and fifteen percent of its natural gas from the Gulf of Mexico. The President has struck out against U.S. coal and now the oil industry. Cuba is drilling off our shores, Brazil is getting U.S. government guaranteed credit to drill for more oil for themselves; and the U.S. is getting further away from energy independence. The Obama Administration is showing again that it cares little for U.S. sovereignty.

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