John Hofmeister, former CEO of Shell Oil and founder of Citizens for Affordable Energy, candidly tells Fox News the Obama administration has been anti drilling and that oil production today is only 7 million barrels per day when it used to be 10 million per day.
Hofmeister warned that the global economy is in "the crosshairs" of a precarious situation in which China is growing its demand for oil each year by millions of barrels per day and turmoil in the Middle East is creating "some of the most unpredictable, volatile, geopolitical situations" in the world.
Global oil demand, meanwhile, is expected to increase by another 1.5 percent to 89.25 million barrels a day in 2012, according to the Energy Information Administration.
"The failure of the United States of America, the world's largest consumer, to adopt government policies to enable domestic production to increase and meet these conditions has been nil, nada, nothing, and that is unfortunate for American consumers," Hofmeister told Fox News.
"We know where the oil is but the government has to allow the companies to get the oil," he said, charging the Obama administration with being "anti-drilling," as demonstrated by the moratorium in the Gulf of Mexico following the BP spill in 2010.
The average price of gas this month so far is $3.49 a gallon -- up 21 cents since the beginning of the year -- and $1.60 more per gallon than when Obama took office in January 2009.
While reelection team Obama claims that his administration is looking to increase domestic energy production, Obama's actions have directly contradicted that assertion. Furthermore, the means to become less dependent on unfriendly nations for our oil by working with friendly nations, has been deliberately stymied by the Obama administration.
Case in point, Obama's rejection of the Keystone pipeline, which would run directly from Canada through the US into Texas which would bring more oil into the US, provide permanent and temporary jobs, put more money into our economy and lessen our dependence on unfriendly nations, is a clear example of Barack Obama worrying more about appeasing his liberal base for reelection purposes than his worry over strengthening our economic condition.