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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 cant just drill our way to lower gas prices. After all, he argues, we have just 2 percent of the worlds oil reserves but we consume 20 percent of the worlds oil.
Energy experts say the presidents rhetoric isnt exactly forthright. Its 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:
The presidents claim that we have just 2 percent of the worlds oil reserves is also misleading, according to the Institute for Energy Research. When the president uses that 2 percent figure, hes talking about the countrys current proven oil reserves not about the countrys recoverable oil. We have enough of that to fuel the nation for the next 200 years, IER experts say.
the rest with comments at..
In which Obama shabbily attempts to perpetuate the myth of energy scarcity « Hot Air
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 cant just drill our way to lower gas prices. After all, he argues, we have just 2 percent of the worlds oil reserves but we consume 20 percent of the worlds oil.
Energy experts say the presidents rhetoric isnt exactly forthright. Its 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 presidents claim that we have just 2 percent of the worlds oil reserves is also misleading, according to the Institute for Energy Research. When the president uses that 2 percent figure, hes talking about the countrys current proven oil reserves not about the countrys recoverable oil. We have enough of that to fuel the nation for the next 200 years, IER experts say.
the rest with comments at..
In which Obama shabbily attempts to perpetuate the myth of energy scarcity « Hot Air