EPA again blocks Shell from drilling on leases it bought from the federal government for billions, which should do wonders for gas prices
Mission accomplished!
Update: a Drudge-ku:
Update: Obama can run, but he can't hide. Will Collier tracks the price of crude oil isnrelation to presidential actions regarding drilling and extraction, "Thanks to Obama, Gas Jumps in a Flash."
The day corresponding to that [2008] peak, an all-time high of $145.16/barrel, was July 14, 2008. By some strange coincidence, that was the very same day then-President George W. Bush lifted, by executive order, a federal ban on offshore oil drilling. ...Now the sky is the limit:
By Friday, July 18, the price of a barrel of crude had dropped to $128.94, a 12% decrease. A month later, on August 14, the price had fallen to $115.05. ...
By election day, November 4, the price of a barrel of crude had plummeted to $70.84 — a 51% decrease in less than five months. ...
Obama had been president-elect for all of five days when he announced his intention to rescind Bush’s order. Oil prices started going up again in January of 2009 and steadily increasing ever since. Obama Energy Secretary Ken Salazar announced a highly restrictive offshore leasing policy last December, and the Bush executive order was officially reversed on February 8, 2011.
The price of crude that day was $85.85. By April 19, it had risen to $107.18, with no end in sight.
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