Campaigner Obama complained last week about the “flat earth” Republicans and their 30 year old mantra, “drill.” He told approving pawns, “You can’t reduce gas prices by drilling.” (Actually Speaker Gingrich is the only Republican proposing American drilling.) But he knows, even if Republicans do not defeat him, high gas prices will. His Administration has quietly been pressuring the Saudis to increase production. (The Saudi have self interest in this: a dangerous embargoed Iran.) Last week the Saudis agreed. Obama also is committed to completely destroy American energy independence. You won’t hear about that until after the election.
First: the “flat earth” charge and the answer from Speaker Gingrich in this video. Watch it all, it is terrific!
Second: Obama and his thug crowd know that more oil supplies do decreases prices. The administration has been working for weeks to get the Saudis to increase oil production. Saudi oil, like Brazilian oil, is good but American oil and jobs and profits are very bad.
Here is the Saudi announcement:
West wins fresh Saudi oil supply pledge
High oil prices have prompted worries about their impact on the global economy, creating a major headache for politicians around the world including U.S. President Barack Obama, who faces public anger over high gasoline prices during an election year.
Washington has urged ally Saudi Arabia to cover potential shortages when new U.S. and European Union sanctions are expected to reduce Iranian oil exports from July.
On Wednesday, veteran Saudi Oil Minister Ali al-Naimi told the International Energy Forum, a major gathering of producer and consumer nations, that the world’s largest oil exporter stood ready to fill any supply gap.
“Today the oil market is generally balanced and there is ample production and refining capacity … Saudi Arabia and others remain poised to make good any shortfalls — perceived or real — in crude oil supply,” Naimi said in a speech, made available to reporters. (Complete Story)