WSJ: $4.00 Gasoline (and Talk of $5.00 Gasoline) Ended The Fantasy That Green Energy, Cap and Trade, Would Jump Start the Economy

Link here.

It wasn't long ago that the Obama Administration was trying to drive up the price of fossil fuels to reduce carbon emissions, promote "green jobs" and save the planet from global warming. Gasoline at $3.50 or $4 a gallon has ended that. And yesterday the White House went so far as to join a global effort to release 60 million barrels from oil stockpiles ...

A review of many stories over the past two years reminds us how the present administration was quite successful in decreasing the pace of domestic oil production.

Despite the decision to release oil from the US strategic petroleum reserve, the bureaucracy is such that slow-rolling the domestic oil industry will continue.