Mr. H.
Diamond Member
- Aug 19, 2009
- 44,179
- 9,873
Obama has laid out $90 in punitive tax measures directed at the oil and gas industries.
I hardly call this "energy policy".
40% of US corn crops is diverted to ethanol production. Still, 20% of ethanol produced is exported.
Grain prices are at near record levels, effecting a host of industries and products.
"Require drilling on current oil and gas leases" - further proof he knows jack shit about the industry.
No- the guy is a major failure.
I don't see how those examples make him a "major failure"
Selectively hitting oil and natural gas businesses with a $90 billion dollar tax burden is hardly successful energy policy. You don't penalize an industry that is critical to achieving your stated goals: increased production, reduced imports, and job creation.
Ethanol has run its course. It's costly, has a zero-net energy return, drives up commodity prices, takes grain out of domestic and world markets where it's needed, and was just a stick-stupid concept to begin with.
Oil and gas leases are acquired in "Blocks", assessed and analyzed- with the most promising areas drilled first. Tens of thousand of acres are required to generate a prospect that is fractionally smaller than the entire Block.
Obama doesn't know what he's doing, and you don't know what you're talking about.