It now appears that Obama is conspiring against the US population in a massive move to further de-industrialize the USA. This has been apparent in two moves with respect to the US oil Industry. First, a moratorium of oil production from deepwater sources combined with plans to levy massive taxes on the production of US oil producers.

Secondly, he signed a long term deal for 2 billion dollars with Brazil to buy oil oil from their rising production and import it.

Brian,

This move disadvantages US industry, but does it really disadvantage the US population in the long run? We've seen lots of people here talking about fossil fuel pricing in the medium term. I am going out on a limb here, but I feel that a significant portion of the board feels that, disregarding the possibility of another massive economic downturn (which is a very real possibility), oil has nowhere to go but up in price. Let's say that ten yeas from now, oil is $150 a barrel or more. In that case, how will historians judge Obama? Why sell it now, if you are almost positive that it is going to double in price in less than ten years? You're better off buying foreign oil and saving yours for when the global community suddenly realizes that we really ARE running out of oil, and everyone is fighting (financially) for their share.

If I was American, I'd actually write an email to Obama and tell him that I fully support the idea.