Obama's Scandalous War Against Domestic Oil

Obama even reversed an earlier decision to open access to coastal waters for exploration, placing a seven-year ban on drilling in the Atlantic and Pacific Coasts and in the eastern Gulf of Mexico. Oil production in the Gulf is expected to drop by 220 thousand barrels per day in 2011, which is going to cost the U.S. some $1.35 billion in revenues in 2011. Not only are we losing oil production and revenues, the administration's actions are destroying jobs in the oil industry and elsewhere. Many companies are going out of business.