In which Obama shabbily attempts to perpetuate the myth of energy scarcity

[Stephanie]

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liar liar pants on fire

SNIP:
posted at 3:40 pm on March 14, 2012 by Tina Korbe

The president likes to repeat that oil production is at an all-time high under his administration. He also likes to emphasize “we can’t just drill our way to lower gas prices.” After all, he argues, we have just 2 percent of the world’s oil reserves — but we consume 20 percent of the world’s oil.

Energy experts say the president’s rhetoric isn’t exactly forthright. It’s unfair for the president to take credit for record high oil production. Not only does it take oil three to five years to come online, which means the previous administration was responsible for approving the exploration and drilling permits that led to increased production, but oil production on federal lands actually declined from 2010 to 2011. Oil production on private lands is responsible for the increase. The specifics:

As CNSNews.com has reported, oil production on federal lands declined in fiscal year 2011 from fiscal year 2010 by 11 percent, and natural gas production on federal lands dropped by 6 percent during the same timeframe.
In contrast, oil production on private and state lands accounted for the entire increase, reported the IER, as production was up 14 percent from 2010 to 2011. Natural gas also was up 12 percent from 2010 to 2011.

The president’s claim that we have just 2 percent of the world’s oil reserves is also misleading, according to the Institute for Energy Research. When the president uses that 2 percent figure, he’s talking about the country’s current proven oil reserves — not about the country’s recoverable oil. We have enough of that to fuel the nation for the next 200 years, IER experts say.

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In which Obama shabbily attempts to perpetuate the myth of energy scarcity « Hot Air

 

[Oldstyle]

Gee, I can't wait until Barry's 3 years of bans on drilling and then stonewalling permits catches up to us. If anyone thinks this Administration is giving anything but lip service to keeping the price of gasoline low in America than they give new meaning to the word "naive".

The Federal Government takes in more revenues the higher the price is at the pump...why would a "tax and spend" liberal like Obama want to put a stop to that? Our pain means he has more money to play with that he doesn't have to borrow from China. Yeah, he's gonna give THAT up!