Obama’s dangerous attack on oil

In a State of the Union Address that purported to take energy issues seriously, President Obama took an ominous tone toward an indispensable form of energy: oil. Oil is the lifeblood of our economy, the fuel of our engines, the material of our petroleum products—and it is extremely difficult to substitute

And yet President Obama bashed oil as ‘yesterday’s energy,’ claiming that much of it can be replaced by biofuels, solar, and wind, if only Americans would consent to subsidizing them even more (they already get upwards of 100 times the subsidy that oil does).

This claim is completely baseless—and, at a time when oil prices are rising and Obama has already clamped down on drilling, incredibly dangerous. Oil cannot be dismissed as “yesterday’s energy,” for it is the energy of the present and will be crucial for the foreseeable future. In attacking oil, the President is not helping our energy future—he is making it far more bleak.

Read more at The Ayn Rand Center