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Monday, February 27, 2012

Gas Prices and the Economy -- 5 -- the Truth abouth Obama

In a recent speech in Florida, president Obama said that he favored drilling for oil and gas and pointed out that American production of oil has risen since he took office. As previously discussed here, Obama actually did not foster higher production; instead, he did all he could to discourage oil and gas drilling. Now the latest statistics are out, and they clearly show Obama was lying. Oil production on federal land and off shore was 726 million barrels in 2010, the year when Obama really started trying to discourage drilling. In 2011, oil production on federal lands and waters fell 14% to 626 million barrels. This was the lowest oil production since Obama became president. The numbers were the same for natural gas. Natural gas production from federal lands and waters fell 11% last year from 5615 million MCF to 4609 million MCF. All of the increase in oil and natural gas production took place on private and state owned land, in other words, places that Obama could not control. So despite his claim to be promoting energy production, Obama has actually curtailed oil and gas output in a very large way.

By the way, in case you are wondering if these numbers are the product of some oil industry flak, they come from the United States Department of the Interior as reported in the New York Times. That means that any possible way to slant the results in favor of helping Obama has already been done, and the numbers still indict and convict Obama as a blatant liar.

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