Charles Krauthammer has a biting yet all-too-true indictment of Obama and his energy naivety. Among the points worth noting is this one, that relates directly to those evil speculators I wrote about just below:
In savaging Obama’s millionth or so speech, Dr. K writes:
Decreasing U.S. demand will lower oil prices, but increasing U.S. supply will not? This is ridiculous. Either both do or neither does. Does Obama read his own speeches?
What is clear is that we need to increase our supply of crude oil. Repeat that adjective, “our.” Not Saudi, not Venezuelan, not Russian. Our. And yet Obama vetoes an environmentally-vetted project, the Keystone pipeline:
Vetoing it gratuitously prolongs our dependence on outside powers, kills thousands of shovel-ready jobs, forfeits a major strategic resource to China, damages relations with our closest ally, and sends billions of oil dollars to Hugo Chávez, Vladimir Putin, and already obscenely wealthy sheiks.
On energy, Obama is a world-class idiot. Or, a world-class ideologue, pushing the United States into the Third World. Either way is not a good thing in an American president.
As Newt Gingrich said on this matter yesterday, we need an American president who will not bow to a Saudi king. Right now we have someone who seems to prefer dependence on foreigners to giving in to the radical environmentalists that support him politically.