One of several Reasons GDP will grow by 5% or more/year under Romney...

Discussion in 'Politics' started by healthmyths, Oct 31, 2012.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    Part one of Mitt’s plan is to achieve energy independence on this continent by 2020
    Mitt's Plan to Create 12 Million New Jobs | Mitt Romney for President

    United States consumed a total of 7.0 billion barrels (19.18 million barrels per day) of refined petroleum products .
    To satisfy that demand, the United States imports 4.383 billion or about 60%.

    A) does the USA have enough oil? How about 160 billion.. meaning reducing 4.4 billion a year (replacing imports) 36 years.

    This oil resource figure is based on technical estimates made by two arms of the Interior Department — the U.S. Geological Survey (for onshore estimates) and the Bureau of Ocean Energy Management, Regulation and Enforcement (for offshore estimates). These estimates add at least 140 billion barrels to what is known as the U.S. endowment of oil, for a total of more than 160 billion barrels.
    U.S. oil resources: President Obama’s ‘non sequitur facts’ - The Washington Post

    Now that is OIL... natural gas is even more plentiful and more utilities are switching to gas as are commercial vehicles.

    B) So if 60% or 4.4 billion a year at $80/bbl paid to the oil exporters.. means instead of paying foreign countries $352 billion.. paid to USA GDP! Which would add 2% to the current 2% GDP or 4%..... well within the GOAL of 5%!!!!

    Simply changing Obama mentality of REDUCING oil production to INCREASING on Federal lands will contribute.
    FACT is Obama CUT federal leases from Bush's 3 year total of 15,095 new leases to
    Obama's reduction by 63% or only 5,568 new leases!

    http://cnsnews.com/news/article/number-new-oil-wells-and-new-leases-have-decreased-under-obama-data-blm-show[/quote]

    Folks THESE ARE FACTS! NOT made up assumptions... FACTS!!!
     
  2. healthmyths
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    healthmyths Gold Member Supporting Member

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    So why growing the GDP by 5% or more is critical is FEDERAL REVENUE!!
    With Federal Revenue running right now at 20% of GDP , increasing GDP by 5% ADDS about $150 billion a year to Federal Revenue.
     

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