The fossil fuel industry was ecstatic when Bush was elected. Finaly one of their own running the most powerful country in the world! Even Better Dick Cheney actually had the brains and the pull to turn over our entire government over to the fossil fuel industry. He let the industry heads write the policy and destroy the rules and regulations holding them back.
And yet ever since Reagan's presidency energy production in the US has gone steadily downhill. Ever since 1986 production of oil in the US has declined each year.
Then in 2009 once Obama was in power, oil production shot up 8.3%! Obama's oil and gas production has put Bush to shame!
http://www.indexmundi.com/energy.aspx?co...There is a perception that Obama is opposed to energy development. Yet his actions are quite the opposite. Obama expanded offshore drilling in the waters in the Atlantic, the Gulf of Mexico and the North coast of Alaska. Sure he placed a 6 month moratorium on deep well drilling after the BP disaster, but after that six months he authorized an additional 51 deep water wells even though the evidence suggested that the blowout preventers have a basic design flaw and that all of the blowout preventers should be redesigned.
http://online.wsj.com/article/SB10001424...For the first time in history Obama has allowed oil drilling in the pristine and fragile Arctic, although the oil companies have failed to show that they have the ability and the expertise to clean up an oil spill, especially in the darkness, the extreme weather and the icy conditions."
http://www.commondreams.org/headline/200...Now Obama has approved the construction of a 1,700 mile pipeline from Canada to Texas refineries carrying dirty tar sands crude.
http://www.guardian.co.uk/environment/20...Also since Obama's election, natural gas production from Fracking of underground shale has exploded. Natural gas drilling is immune to EPA regulation thanks to Dick Cheney. You see Haliburton (Cheney's company) developed the technology and refuses to disclose what toxic chemicals they pump into the wells.
http://thinkprogress.org/romm/2011/06/03...Michelle Bachman said that when she becomes president she can bring the cost of oil down to $2.00 a gallon. There has been a lot of discussion about how this would be possible.
Bachman no doubt thinks she can do that by returning to the drill baby drill, philosophy. It is difficult to see how even Bachman could expand drilling more than Obama has. Obama has expanded energy production far more than an old time oil man like Bush did! The fact is that even if we could increase oil production in the US even more, the oil companies would just sell it on the open market, and that domestic oil would not affect the global market price.
http://politicalcorrection.org/mobile/fa...The consensus seems to be that there are only two ways to lower prices. The way that most countries keep oil prices artificially low is to nationalize the oil industries. That option doesn't really mesh very well with Bachman's anti government philosophy, so the only other way to reduce prices is to cause a worldwide economic collapse, since that is what caused the low oil prices when Obama entered office. Bachman seems very willing to do that.