The president spent less than a minute on Sunday announcing his administration's plans to prohibit drilling in Alaska's Arctic National Wildlife Refuge.

President Obama announced plans to move ahead with mandating methane emission reductions primarily directed at the renaissance in the energy industry.

As oil prices continue to decline, many oil-producing countries and investors will feel the pain, but drivers will enjoy the lower gas prices. 

With drilling activity slowing in America's oil patch, the effects will be felt throughout the economy.

Lower oil prices are not an unmixed blessing, especially with political maneuvering behind the scenes risking far more than just a shrinkage in the oil patch.