Obama is Strangling Big Oil

There was no "official" announcement. Not in so many words. Connect the dots of what has occurred in just the past two weeks to deep-water oil drilling, shallow-water drilling, and oil refining. The effect is the same. Barack Obama is shutting down Big Oil.One of the first actions taken by the president after the BP oil leak began was to announce a six-month moratorium on all "deep-water" (deeper than 500 feet) drilling. That immediately affected 33 oil rigs and more than 120,000 oil-related jobs. The industry has an estimated $3-billion impact on the Gulf economy.The executive order, from Secretary of the Interior Ken Salazar via Obama, was taken to court by drilling companies. It was quickly enjoined by U.S. District judge Martin Feldman, who wrote a harshly worded opinion critical of the Energy Department's lack of scientific basis for such an overreaching reaction.Not to be dissuaded by such trivialities as a federal court judge's ruling, what did Obama do? It...(Read Full Article)

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