Obama's Lie of the Week -- 2

Two weeks ago, I wrote about the whopper that president Obama told in his weekly radio address when he claimed that the USA had only 2% of the world's oil reserves. That 2% figure is so low because the proven reserves to which Obama refers include only oil that can legally be recovered from established conventional fields. Areas that are off limits to drilling are excluded. Oil from shale is excluded. Oil in fields that have not been established are excluded. In other words, Obama makes his claim of a lack of American oil only after excluding almost all of America's oil reserves.

Today, Investors Business Daily ran a story discussing this very point. The reporter, John Merline makes the point that instead of the 22 billion barrels of oil to which Obama referred, there are about 3.5 trillion barrels of oil in the USA. That is more than 150 times more oil than Obama admits to having in America. Merline's article is well worth reading. It can be reached by clicking on the title to this post. Just remember, however, this essential truth: president Obama is lying when he says that the USA cannot drill its way out of dependency on foreign oil. Next time Obama says America cannot drill enough oil, we all need to shout back at him: "Yes, we can!!!!!"