Either prohibited or subsidized: Offshore drilling 

Under President Obama, there is very little room for the free market. Economic activities are either severely restricted or heavily subsidized.

Sen. David Vitter of Louisiana expresses frustration over U.S. subsidies for offshore drilling conducted by foreign countries while the executive branch blocks almost all domestic offshore drilling.

Vitter has sent a letter to the head of the Export-Import Bank, which subsidized the Brazilian and Colombian offshore projects because these drillers are buying U.S. equipment:

"Louisianians are frustrated with the ongoing de facto moratorium, and I would appreciate a full accounting for the return on investment the American taxpayer has received, and is anticipated to receive on the $2 billion loan to this Brazilian petroleum company."

I've written plenty about Ex-Im, a corporate-welfare agency that gives most of its subsidies to Boeing, and which has previously subsidized GE's moving a factory to Mexico, and foreign ethanol production, which our other federal policies discourage.

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Timothy P. Carney

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