Yes, Obama's Anti-Oil Agenda IS To Blame For High Gasoline Prices

At the bottom of the recession, worldwide oil demand dropped by two million barrels per day and the price was less than half what it its today. Obama has choked off almost two million barrels of North American production. If a drop of two million barrels in demand halves prices, then an increase of two million per day in supply should help, right?

The news wires are reporting that President Obama actively lobbied Senate Democrats to defeat the Keystone pipeline yesterday. The effect of blocking the Keystone XL Pipeline is to defer 700,000 barrels of oil per day. And as I reported at The Weekly Standard recently, the president’s policy of choking off oil production under federal leases will prevent another 1 million barrels of oil per day this year, and even more next year. 

Obama will soon be personally responsible for preventing some 2 million barrels per day of possible North American crude oil production from reaching the American economy. The U.S. currently produces only about 6 million barrels of domestic crude oil, so that would be more than a 30 percent increase in domestic production.