Obama sends energy investment dollars overseas

Energy Tomorrow:
Policies have consequences – in the graphic below from API’s 2012 State of American Energy report, the consequences of the 2010 Gulf deepwater drilling moratorium are manifest: more than $21 billion in investment dollars lost and the departure of drilling equipment to other, more hospitable, venues.
More detail from the report:
• 11 drilling rigs, representing 14 projects had left the Gulf of Mexico since April 2010.
• 91,000 jobs lost as a result of the Gulf moratorium.
• An estimated $18.3 billion of previously planned capital and operating expenditures didn’t occur in 2010 and 2011.
• Gulf oil production is projected by the Energy Information Administration to be down 12 percent in 2012 over 2010.
... 
This is more evidence of Obama and Salazar's foolish energy policy.  They have been chasing away investments in US energy development.  They over reacted to the gulf oil spill.

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