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U.S. oil future is bright, if policies will allow it

by The Oklahoman Editorial Board Published: November 16, 2012

Obama previously promoted expensive “cap and trade” legislation that would dramatically hinder energy development and gouge consumers, and multinational bank HSBC Holdings recently suggested he is considering a tax on carbon emissions (which the White House denies).

Obama's energy policy has championed “green” projects that mostly drain millions from tax coffers before going bankrupt (i.e. Solyndra) rather than fostering domestic production of fossil fuels.

In a political version of the rooster who claims his crowing made the sun rise, Obama often bragged on the campaign trail that domestic energy production increased on his watch — even though he had nothing to do with it. The IEP report shows he could continue to reap the benefits of others' work on energy production by simply getting the federal government out of the way.