But the special arrogance of Obama may well be behind his speech yesterday on the rapid rise in gasoline prices. After all, since he’s guaranteed reelection, he does not need to give any rational explanations for what he’s going to do about those prices.
Remember that this is a man who has promised that his election would, among other things, cause the seas to stop rising. Gas prices? Hah; no worry. The Mighty One can fix this before lunch.
Not so fast. What Obama actually said was, in so many words, “hey, it’s not my fault.” And there’s really nothing I can do. The Wall Street Journal nicely shreds Obama’s incoherent and mutually exclusive excuses. From today’s lead editorial, the gist:
a) gasoline prices are beyond his control, but b) to the extent oil and gas production is rising in America, his energy policies deserve all the credit, and c) higher prices are one more reason to raise taxes on oil and gas drillers while handing even more subsidies to his friends in green energy.
As the Journal points out, increases in oil production now happened because of leases approved under President George W. Bush. Obama, on the other hand, has terminated many leases that were approved, and caused major areas off the Atlantic and Pacific coasts to be off limits. Then there’s the Keystone-XL denial.
Liberals, including Obama, are wont to say that issuing permits and leases today won’t fix gas prices in the near term. It will take years to bring them to market. Yes, but, it’s been many years since lefties have been denying the development of proven reserves.
Just think of the downward pressure on oil prices if our oil and gas industry were to be truly unfettered by unreasonable and extreme enviros. Then just think of how we could replace so much of what we import from unstable dictatorships such as Venezuela.
But that kind of thinking is anathema to Obama. He and his lefty allies in Congress would much rather raise taxes and impose more regulations on those evil oil barons. Oh, wait. You mean if you increase the costs of producing something, you’re likely to get less of that something?
Whatever else they may believe, liberals like Obama seem to think they have a special immunity to the laws of supply and demand. Wrong again.