July 29, 2012, Gas prices up, Obama energy policy rewards friends punishes Americans, Alaska island giveaway to Russians, Keystone Pipeline, Canada China oil deal
“For the well-off in this country, high gas prices are mostly an annoyance, but to most Americans they’re a huge problem, bordering on a crisis.”…Barack Obama May 2008
“We can’t drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times … and then just expect that other countries are going to say OK,”…Barack Obama May 2008
rising energy costs “one of the most dangerous and urgent threats this nation has ever faced” gas prices “are wiping out paychecks and straining businesses.”
…Barack Obama August 2008
Gas prices are going back up and currently average $ 3.49 in the US. One of the biggest reasons gasoline prices have not risen further is the downturn in the US and world economies.
From the NY Times June 13, 2012.
“Mark Juull, a construction contractor for public and residential housing, has something to be thankful for in this sluggish economy: With global commodity prices falling, he’s saving $200 a week on fuel for his three trucks and finding deals on aluminum, lumber and roof shingles, which are typically made from petroleum.”
“Over the last month, global oil prices have declined by about 12 percent, while corn, copper, lead, cocoa and coffee have all dropped by 5 percent or more. Prices of corn, cocoa, oats, cotton, rubber, coffee, aluminum, silver, zinc and nickel are all more than 20 percent lower than a year ago.
Gasoline prices are falling precipitously, too, down nearly 20 cents over the last month alone, to a national average of $3.54 a gallon on Wednesday. That is nearly 45 cents below the high for the year reached in early April. The average household consumes 1,200 gallons of gasoline a year, so every dime shaved off the price of gas translates into a $120 annual savings, according to the Oil Price Information Service.
“The world economy is in risk of a recession and on that possibility, commodity prices weaken,” said Allen L. Sinai, chief global economist for Decision Economics, a consulting firm. “Lower inflation comes with weakening economies.”
Oil is among the commodities that have fallen in price the fastest despite continuing tensions in the Middle East and the tightening sanctions on Iran. OPEC production has been soaring in recent months because of mushrooming crude exports from Iraq, an almost total resumption of exports from Libya since the fall of the Qaddafi dictatorship, and a concerted drive by Saudi Arabia to push up production. At a meeting in Vienna on Thursday, OPEC is expected to decide to keep production steady despite weakening prices.”
In 2009 when Obama took office, gasoline averaged around $ 1.85 a gallon. Here is a chart of gasoline prices for the last 3 years.
A long time commenter here brought this to my attention.
From WND February 16, 2012.
“The Obama administration, despite the nation’s economic woes, effectively killed the job-producing Keystone Pipeline last month. The Arab Spring is turning the oil production of Libya and other Arab nations over to the Muslim Brotherhood. Iraq is distancing itself from the U.S. And everyone recognizes that Iran, whose crude supplies are critical to the European economy, will do anything it can to frustrate America’s strategic interests. In the face of all of this, Obama insists on cutting back U.S. oil potential with outrageous restrictions.”
“Part of Obama’s apparent war against U.S. energy independence includes a foreign-aid program that directly threatens my state’s sovereign territory. Obama’s State Department is giving away seven strategic, resource-laden Alaskan islands to the Russians. Yes, to the Putin regime in the Kremlin.
The seven endangered islands in the Arctic Ocean and Bering Sea include one the size of Rhode Island and Delaware combined. The Russians are also to get the tens of thousands of square miles of oil-rich seabeds surrounding the islands. The Department of Interior estimates billions of barrels of oil are at stake.
The State Department has undertaken the giveaway in the guise of a maritime boundary agreement between Alaska and Siberia. Astoundingly, our federal government itself drew the line to put these seven Alaskan islands on the Russian side. But as an executive agreement, it could be reversed with the stroke of a pen by President Obama or Secretary Clinton.
The agreement was negotiated in total secrecy. The state of Alaska was not allowed to participate in the negotiations, nor was the public given any opportunity for comment. This is despite the fact the Alaska Legislature has passed resolutions of opposition – but the State Department doesn’t seem to care.
The imperiled Arctic Ocean islands include Wrangel, Bennett, Jeannette and Henrietta. Wrangel became American in 1881 with the landing of the U.S. Revenue Marine ship Thomas Corwin. The landing party included the famed naturalist John Muir. It is 3,000 square miles in size.
Northwest of Wrangel are the DeLong Islands, named for George Washington DeLong, the captain of USS Jeannette. Also in 1881, he discovered and claimed these three islands for the United States. He named them for the voyage co-sponsor, New York City newspaper publisher James Gordon Bennett. The ship’s crew received a hero’s welcome back in Washington, and Congress awarded them gold medals.
In the Bering Sea at the far west end of the Aleutian chain are Copper Island, Sea Lion Rock and Sea Otter Rock. They were ceded to the U.S. in Seward’s 1867 treaty with Russia.
Now is the time for the Obama administration to stand up for U.S. and Alaskan rights and invaluable resources. The State Department’s maritime agreement is a loser – it gives us nothing in return for giving up Alaska’s sovereign territory and invaluable resources. We won the Cold War and should start acting like it.”
And now we learn.
From Patriot Update July 28, 2012.
“After Obama Blocks Pipeline, China Readies $15.1B Canadian Oil Deal”
“When President Barack Obama blocked the Keystone Pipeline, Republicans said the move would encourage Canada to pursue oil deals with China instead of the United States and cede a massive chunk of North American oil assets to the communist nation.
Now, with China’s state-run oil company CNOOC poised to cut a $15.1 billion deal–the largest ever foreign acquisition for a Chinese company–with Canadian oil company Nexen, Sen. Charles Schumer (D-NY) and Rep. Nancy Pelosi (D-CA) are in full backpedal mode.
In a draft letter to the Committee on Foreign Investment in the United States (CFIUS), Sen. Schumer writes:
I respectfully urge you, in your capacity as chairman of the Committee on Foreign Investment in the United States (CFIUS), to withhold approval of this transaction to ensure U.S. companies reciprocal treatment.
Similarly, Rep. Pelosi is now sounding alarms of concern. In a statement, Pelosi spokesperson Drew Hamill said:
This deal prompts great concern about the Chinese government’s continued attempts to use its state-owned enterprises to acquire global energy resources.
Saying “I told you so” offers little solace to concerned Republican lawmakers.”