With gas prices spiraling ever higher, former GOP
presidential candidate and Forbes Magazine Publisher Steve
Forbes slammed the Obama administration’s reluctance to drill
for oil on Wednesday, accusing the administration of having
“anti-energy policies.”
Forbes said Congress should rake administration officials “over
the coals” on the oil-exploration issue.
Republicans have been increasingly critical in recent weeks that
the need to drill safely in pristine Gulf of Mexico waters must
be balanced with America’s economic and energy needs — an issue
that grows more salient with each hike in gasoline prices at the
pump.
“The Interior secretary is blocking these things, not allowing
the permits to go forward,” Forbes said Wednesday morning on Fox
News. “So even though the [drilling] moratorium since that
terrible spill last summer has been removed, the fact of the
matter is permits have been frozen.
“So in effect the moratorium is continuing. That’s an
administration decision. And when [Interior] Secretary [Ken]
Salazar goes before Congress in testimony, I hope the Congress
rakes him over the coals on it, and asks him, ‘What in the world
do you think you’re doing?’”
Also today, Forbes said in an Op-Ed piece for
Politico that, "By freezing U.S. energy assets in the Gulf
and keeping 97 percent of our offshore oil and gas off limits,
our government, willing or not, is fueling an energy crisis that
could bring this nation to its knees. Continued inaction in the
Gulf threatens to force us to import an extra 88 million barrels
of oil per year by 2016, at a cost of $8 billion."
Cato Institute economist and tax policy expert Chris Edwards
supports Forbes’ push for more domestic oil exploration. He
tells Newsmax that a more vigorous oil-exploration effort would
benefit the U.S. economy, although it wouldn’t necessarily
decrease the price of gasoline at the pump.
“Drilling would be good for the U.S. economy, because it would
be an efficient use of resources. There is a lot of oil and gas
here. The companies want to drill here, if it weren’t for all
the regulations.
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Oil prices have
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“It would be good for our GDP and production,” Edwards tells
Newsmax. “But it wouldn’t affect the price of gasoline. The
mistake the Republicans and Democrats make is the price of
gasoline is set on world markets, so even if our consumption was
fully supplied 100 percent by domestic consumption, the price
would still be set on world markets.”
Drilling proponents also say more permits would help get
unemployed energy workers back on the job, which is especially
important in economically depressed areas of Texas and
Louisiana.
On Monday, the Obama administration announced that it had
granted its first permit for deepwater drilling since the BP
Deepwater Horizon oil spill. Salazar testified Wednesday morning
before the Senate Energy and Natural Resources Subcommittee, but
he apparently decided the best defense was a good offense.
Salazar criticized a string of decisions from a Louisiana
federal judge critical of the Energy Department’s burdensome
regulatory restrictions, saying those rulings represent an
inappropriate infringement on Interior Department prerogatives.
On Feb. 17, Judge Martin Feldman gave Salazar 30 days to rule on
five pending requests for drilling permits.
“The judge in this particular case, in my view, is wrong and we
will argue the case, because I don’t believe that the court has
the jurisdiction to basically tell the Department of Interior
what my administrative responsibilities are, so that will be
argued in the court at the right time,” Salazar told the Senate
committee.
Forbes told Fox News Wednesday: “We need to get this
administration to back off on its anti-energy policies.