The Institute for Energy Research is a not-for-profit organization that conducts intensive research and analysis on the functions, operations, and government regulation of global energy markets.

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March 21, 2011

The Oil From Ipanema

March 21, 2011
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WASHINGTON– Now that gas prices are topping $4 per gallon, President Obama is touting the benefits of increased oil exploration and production . . . in Brazil.  While his administration works to decrease American energy production, President Obama encouraged Brazilians to become a “new, stable source of energy” for the U.S.  In response, Daniel Kish, vice president of policy at the Institute for Energy Research, issued the following statement:

“The president’s approach to energy seems to be to ‘spread the wealth around,’ as long as it isn’t here at home or with our strong ally and trusted neighbor, Canada.”

“Right now, the president could order that oil production start in Alaska; that all permits be granted in the Gulf of Mexico; that Canada – our trusted ally, number one trading partner and largest supplier of oil – gets the permits they need to spend billions of dollars to build a pipeline across our border; or direct his Interior Secretary to stop holding up oil shale leasing on western lands.”

“Instead, he’s handing out loans for, and talking up the virtues of, Brazilian oil discoveries.  These are discoveries his own policies are stopping right here in the US.  The mystery of his approach is why it continues to be so anti-North American when it comes to where we get our oil.” 

“Energy is not the fashion of the day, but the servant upon which our entire economy rests.  The president needs to get back home and show some appreciation for American resources and jobs.”

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