ENERGY PRODUCTION BANNED IN HALF OF PETROLEUM RESERVE

 

” The Obama administration on Thursday finalized plans to lock up from energy production half of the National Petroleum Reserve-Alaska – a tract of land the size of Indiana set aside by Congress 90 years ago to assure a domestic supply of oil.

Of the 23 million acres in reserve on Alaska’s north slope, energy production will be allowed on an nearly 12 million acres believed to hold 549 million barrels of oil – a small percentage of what the U.S. Geological Survey estimates the entire reserve holds — nearly three billion barrels of recoverable oil.

The decision to significantly curtail energy development in the reserve was signed today by Interior Secretary Ken Salazar and comes as gasoline prices continue to increase for the 34th day in a row.”

 

* Editor’s Note : While we admit that Obama spoke specifically about “electrical” prices due to coal burning generation plants , many electrical generators burn oil and/or natural gas , all of which have “skyrocketed” under his administration so spare us the nit-picking and admit that this is all a part of his plan .

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