FUZZY MATH & OBAMA QUOTE OF THE YEAR!

"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.

SUBSIDY VS. GRANT - AN EASY EXPLANATION

Have you heard the left and even the right yowling about taking away the oil company "subsidies?" Here's an explanation of what a subsidy is. I believe the government is purposely redefining the term "subsidy." They are creating confusion over what the word "subsidy" has historically meant. A "subsidy" is something GIVEN to companies, like outright grants, a gift of money. That is what the green energy companies are getting right now from both federal and state governments. GRANTS, GIFTS, HERE IT IS, SPEND IT TO PUSH A POLITICAL AGENDA, GREEN ENERGY.

The oil companies, and hundreds of thousands of other big and small companies, do not get "subsidies" or "grants" for the production of fossil fuels. They get nothing more than accelerated depreciation, and the oil companies also get depletion breaks. The "subsidies" are nothing more than tax breaks, not gifts. And the government has forever used them to mold public policy like pushing wind and solar and green cars. By the way, ALL U.S. COMPANIES qualify for the depreciation breaks made available by tax law. And if you believe "these big companies do NOT pay their fair share of taxes," remember, Obama's pal, GE, has admitted they paid nothing. They took advantage of available tax breaks.

But Exxon oil, according to their first quarter filed reports, had a net profit of 10 billion dollars on 114 billion dollars in gross revenue. That is a profit margin of 9%, up very slightly from their last report. About 3% of Exxon's oil business is in the U.S. For every gallon of fuel they manufacture in the U.S. they earned 2 cents. That's not a typo. It is two cents. So while Exxon Mobile gets 2 cents from each gallon of gas, the federal and state governments take in between 40-60 cents in taxes. See who gets the biggest share of the fuel "pie?" It isn't the oil companies.

The real reason we have $4 per gallon gas and rising is the Feds printing money and monetizing the U. S. debt. That action, which I believe has never been done in the U. S., causes intense out of control inflation. That and the fact that Obama has virtually shut down oil production in the Gulf and Alaska. Do you remember during the campaign when Obama said because of his energy policies "energy prices would necessarily skyrocket." Looks like he meant it.

There is no one to blame for the price of gas except Obama and the Federal Reserve puppet Bernanke. But don't expect the increase in the price of fuel and food to show up in the "accurate" inflation figures coming out of Washington. In case you didn't know, the Washington number crunchers responsible for reporting the real inflation number don't include fuel and food in their calculations. What does that tell you about the accuracy and intelligence of the Washington calculators?