"We're actually producing more oil here than ever." Sounds, good, Huh? But beware, these are the words of Mr. O, a liar without shame. Here are the real facts according to EIA data.
In 1970 the U.S. produced 9.6 million barrels per day. In 2010 we produced 5.5 million barrels per day. That's a DECLINE of 4.1 mbpd. And here's a trivia fact for you. In 1970 the U.S. population was 203,392,031. Today it is 308,745,538. In 1970 we were producing 43% more oil with more than 100 million fewer people using it.
But Mr. O continues to tout the lie that his administration has increased oil production. He says that under his administration U. S. oil production from the Gulf of Mexico has increased by more than a third. FACT OR FICTION? The EIA says that it takes about 3 years to reap the reward of development drilling. And if you are starting from scratch, new leases, new wells, it could take about 5 years to get gas to the pumps.
So figure it out. Any increase in oil production from 2008-2010 is directly due to action that predates Mr. O's tenure in office. And he has taken no major action to expand offshore drilling since he's been in office. In fact, he shut it down in the Gulf with a "moratorium" and he shut it down in Alaska by refusing to issue permits. For the record Obama has done everything he could to prevent American oil production. Remember his campaign promise? "Under my energy plan fuel prices will necessarily increase." He told you what he was going to do, and he's done it. And you voted for him anyway. Do you like paying $4 per gallon for gas? Thank you, Mr. O.
And now he wants to take credit for increased production? He is fraudulently taking credit for something done by Bush, and he knows it.
The real proof of his energy policy (or lack of one) will be seen in 2011 and 2013, the 3-5 year lag. The EIA says oil production is projected to go DOWN in 2011 to 5.4 mbpd and in 2012, again down to 5.27 mbpd. This is a direct result of no coherent energy policy in Mr. O's White House.
And now the greatest bluff of all from the most dishonest president to ever occupy the White House. Mr. O is now, suddenly telling his administration to "ramp up" U.S. oil production by extending existing leases in the Gulf and off the coast of Alaska. Do you think he's doing this now because the Republicans in the House have passed 3 bills that would expand and speed offshore oil and gas drilling? The White House has already announced its opposition to all three bills, but now Mr. O has agreed to "adopt" a few of these provisions so he can take credit for "ramping up" production.
But look out, he isn't finished yet. Ye wants to do away with what he calls oil company "subsidies." He obviously doesn't understand the difference between a subsidy and a tax code. The oil companies use the same tax codes used by every American company, no more, no less. If Mr. O get his way and actually prohibits American oil companies from utilizing existing tax codes, look out, America. More lost jobs, and higher pump prices. Does Obama really think the oil companies won't pass on their loss to the public? That's what all companies do. They lose money, they make it up in higher prices. The public pays one way or another, Mr. O. Where the heck are your economic advisers? And why isn't Obama chastizing GE who paid no 2010 taxes? Oh, I forgot, GE is Obama's buddy. Nice to be on the Buddy System, don't you think?
I believe Mr. O finally figured it out: NO DRILLING, NO VOTES! He is traveling the country telling massive lies, knowing that the most Left leaning ideological media propaganda machine that ever existed, won't report the truth, they'll only repeat his distortions and lies. I just hope you don't fall for it again.
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