President Barack Obama’s energy policies have locked down the nation’s oil and gas industry — and Americans could be paying $6 a gallon for gasoline if they are not reversed, energy expert Thomas Pyle tells Newsmax.TV.
Although Pyle noted that both Democratic and Republican administrations have shied away from exploiting the country’s vast energy resources in the past, Obama’s policies in particular “have led to basically a shutting down of the oil and gas industry in this country.
"Which, as the third-largest producer of oil in the world, is certainly going to send a signal to the marketplace that we are going to see a shortening of supply at a time when we actually need to be producing as much oil as possible not only to satisfy the growing demand in other countries but also in order for us to recover economically.”
The country is “on a path for not only $4.50 gasoline, potentially $5, even $6 gasoline if these policies continue,” said Pyle, former policy analyst in the U.S. House.
However, just as Obama’s policies have sent a signal to the marketplace, a reversal will do the same with an immediate effect, he said.
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Although Pyle noted that both Democratic and Republican administrations have shied away from exploiting the country’s vast energy resources in the past, Obama’s policies in particular “have led to basically a shutting down of the oil and gas industry in this country.
"Which, as the third-largest producer of oil in the world, is certainly going to send a signal to the marketplace that we are going to see a shortening of supply at a time when we actually need to be producing as much oil as possible not only to satisfy the growing demand in other countries but also in order for us to recover economically.”
The country is “on a path for not only $4.50 gasoline, potentially $5, even $6 gasoline if these policies continue,” said Pyle, former policy analyst in the U.S. House.
However, just as Obama’s policies have sent a signal to the marketplace, a reversal will do the same with an immediate effect, he said.
Read more
5 comments:
There they go "speculating" again. This is what drives up the price. It has nothing to do with supply and demand and it certainly has nothing to do with what's going on in other countries.
It's the speculators. Shut them down and see gas prices drop like a rock!
That was Obama's agrnda to tear our country down to nothing. then started over with total government control. He wants to control everything and be your dictator.
10:28 that's not even logical
12:23
Neither was voting in a man that has no experience.......but it happened.
If Obama's 'team' can drive the price of fuel out of reach, they know they'll have America by the private parts.
Americans, being the way we are, will say at that point 'We don't care what you have to do-- get it for us'.
And they'll have license to do whatever they want.
You mark my words. That's their plan.
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