Writing for the Houston Chronicle's FuelFix blog, William O'Keefe thinks we need to go farther into the ocean.
The last two years have tainted the U.S. with an anti-business, anti-investment climate. Until investors, entrepreneurs, and other business leaders have reason to believe that has changed, progress in undoing the economic damage of the last two years will languish.Technorati tags:
As a first step, the president could direct the Department of Interior to expedite issuance of permits for drilling in the Gulf of Mexico and to remove the recently issued ban on offshore drilling off of the East Coast. That action would have a big impact on unemployment in Gulf coast states and would send a signal that the U.S. plans to exercise more control over its energy future. Although the White House is a big proponent of “green” energy, it needs to acknowledge that since these fuels are a long way from being commercially viable, fossil energy will continue to provide the main source of power for our economy for decades to come.
While all agencies need to do a better job of avoiding regulatory overkill, EPA currently threatens to have the biggest impact on our economic recovery and job creation. Its proposed rules on boilers, stationary sources, and ambient air quality standards offer compelling evidence that it is out of control and pursuing an ideological agenda without regard to economic consequences. Those proposals are already having a chilling effect on investments. President Obama should direct EPA to suspend all pending actions to regulate greenhouse gas emissions, including plans to issue another set of CAFE [Corporate Average Fuel Economy] regulations to mandate a fleet average of 45-62 miles per gallon.
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