Last week, Interior Secretary Ken Salazar announced a 7 year moratorium on oil drilling in the eastern Gulf of Mexico and up the east coast. They need that time to further study the BP oil spill and implement a "more stringent regulatory regime," Salazar transparently prevaricated.Frankly, I don't fully understand why the oil companies don't simply, at this point, start breaking the law. Surely they could never be subject to legal punishment if they chose to fight. The American people would riot on their behalf.
Salazar is consequently depriving America of 7.5 billion barrels of oil and 60 trillion cubic feet of natural gas. To ensure their access to a reliable supply of oil at the time, the Japanese bombed Pearl Harbor. That's shows what a serious attack on the American people this policy is. [emphasis added]
Meanwhile, EPA Director Lisa Jackson is imposing cap and trade by regulatory decree, despite its thorough democratic rejection by a Democrat-controlled Congress and the American people in 2010.
I can only assume that, since having low-price oil and gas doesn't really affect the executives very much, they simply choose not to endure the hassle. Can't say I entirely blame them, but it's a real shame for the rest of us.
Where is Hank Rearden when you need him?