Power Line - The Key to Keystone, and Other Mysteries: "One of the big differences that remains between Bush and Obama is Obama's hostility to domestic energy production, as John also pointed out here. I'll only add that yesterday over on RealClearMarkets I offered a column with two bits of original reporting that exposes the charade of Obama's recent announcement that he wants more domestic drilling. Among other things, I recently got to see a proprietary research report by a leading economic consultancy on the investment of political risk for oil and gas in the United States. Here's the key paragraph"It is almost as if the United States deliberately wanted to be more dependent on foreign oil. Consider that while the World Economic Forum rates the U.S. 4th in its ranking of the world's most competitive economies, it would rank far down the list if the WEF were to look at the competitiveness of the oil and gas industry in isolation. A proprietary ranking of political and investment risk for oil and gas by IHS's Petroleum Economics and Policy Solutions unit places the U.S. 44th, below several African nations such as Angola, which is ranked 18th. As an IHS analyst observes, in the U.S. "there is the constant threat of adverse contract or fiscal regime changes at both the state and federal levels of government. None of these threats or business risks is present in Angola."
Posts
