Obama prohibits oil exploration beyond his term of office.

Glenn Reynolds notes that HMM: Obama backtracks on plan to open more Gulf waters to offshore drilling.

Whatever the merits or demerits (I think it’s totally ideological) of Obama’s ban on offshore drilling through at least 2017, what struck me the most about this decision is that the ban extends past a potential second term. If Obama wins a second term – an increasingly longer shot as each day passes – he’s going to be president until January 2017. The ban announced on December 1st extends past this point. Of course Obama’s successor can repeal the ban with the stroke of a pen, just as Obama created the ban with the stroke of a pen.

With this action, it appears that Obama’s enforcing the policies of the Left and the radical environmental lobby while simultaneously making a show of meeting with Republicans during the lame duck session. Smoke and mirrors in the most cynical sense.

From UpstreamOnline, we get industry reaction:

Chevron said it was “disappointed” with the decision today to limit US offshore exploration beyond existing areas under lease, characterising it as a “step in the wrong direction”.

Chevron released a statement to Upstream this afternoon expressing its displeasure.

“The decision is a step in the wrong direction for American energy policy and American economic policy,” the company said in a statement sent via e-mail by spokeswoman Margaret Cooper. “It undermines the nation’s economic recovery by impeding job creation, increased revenue to federal treasuries and access to affordable domestic energy supplies.”

“This announcement will limit US production and fails to recognise the critical contribution US offshore development is making to increase domestic energy supply,” it added.

Needless to say, wind turbine manufacturers like GE, Vestas and Siemens were overjoyed and Big Offshore Wind hosted a conference on December 1.