By Mac McDowell, Host of The Boiling Point
They say that bad things happen on Friday the Thirteenth and
this last one proved that axiom to be true.
On April the 13th Comrade President Barak Husain Obama signed
an executive order to “Support Safe and Responsible Development of
Unconventional Domestic Natural Gas Resources.”
As I have said many times when ever the leftists support
something like the “cuddly kittens act” or some such name, lookout! This
Executive Order (E.O.) is no exception. This E.O. places no less than thirteen
federal agencies to oversee the extraction of natural gas from active plays
like the Eagle Ford Shale and the Barnett Shale. Federal oversight has never been needed for
the extraction of hydrocarbons from private lands in
Commission and the Texas Commission of Environmental Quality doing that job
just fine. But now, thanks to this new E.O. it will take thirteen federal
agencies to do that job.
Before the development of the shale formations, natural gas
was selling for over $10.00 an MCF (1000 BTUs). Now since these formations have
been developed the price has dropped to just over $2.00 an MCF. This price drop was not the result of a
federal mandate or a federal program this was simple market forces in the
private sector that forced the price to a reasonable level. This price drop has
benefited the consumer by keeping electric rates lower.
This action by the White House is just another attempt by
the leftists to shutdown the oil and gas business here in
been taking aim at the oil and gas industry. Three weeks ago the President
claimed that the cause for the rising
cost of gasoline was greed on the part of the oil industry, when in fact it is
a government mandated additive that, by law, must be added to the fuel to
reduce summertime ground level ozone. This additive adds about 30¢ to the cost
of each gallon at the pump.
Last week they claimed that oil speculators were the evil
forces behind the rise in the price of gasoline. But the real reason is that
the administration will not approve any permits to drill offshore or to approve
the Keystone XL pipeline. It seems that this administration will not be happy
until they have shut down the entire oil and gas industry in the whole
country.
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