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President Obama's Oil Production Lie

snipe 2012/03/04 20:08:37
And boy do the obots suck it all up!



With gas prices soaring on his watch, President Obama is eager to deflect attention from his record of blocking American energy production that would help address the pain at the pump and create jobs. As part of this strategy, the president is trying to take credit for an increase in domestic oil production – a claim he repeated this afternoon in Florida. It’s a nice talking point, but a highly misleading one.

Here are the facts: it is the significant increase in energy production on state and private lands – where Washington has limited control – that is largely responsible for the recent boost in oil production. According to a new non-partisan analysis of government data, oil production on private and state lands jumped by 14 percent during the last fiscal year. Production on federal lands, meanwhile, dropped by 11 percent. This trend is almost certain to continue given that the Obama Administration’s draft five-year drilling plan prohibits offshore drilling in new areas, and only allows lease sales to occur in areas that are already open.

As for any recent increases in oil production on federal lands, they can largely be attributed to the policies of previous administrations. The Natural Resources Committee has more on this and the president’s other dubious energy claims.

Often quick to assign blame, the White House is stingy about sharing credit. Take the president’s new budget, in which more than half of the proposed savings comes from the Budget Control Act and spending cuts the president opposed for months. In both cases, the administration is trying to take credit when it shouldn’t, distract from the size and scope of the problem at hand, and give itself a pass on coming up with much-needed solutions.

Rising gas prices drain economic confidence fast,” The Washington Post notes, “as most Americans feel pinched as soon as they fill up their next tank.” Americans deserve the truth about our energy challenges, and solutions that square with reality. That’s why Republicans unveiled the American Energy Initiative last year, and passed several bills to expand domestic energy production as part of the Plan for America’s Job Creators. Learn more at http://jobs.GOP.gov.


http://www.speaker.gov/Blog/?postid=281672

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  • marylou5 2012/03/04 20:26:29
    marylou5
    +11
    Another BIG lie to add to all the others that Obama feeds to the liberal media, the robot reporters, and journalists, who have lost all integrity and spew it as fact.
    Time they grew a backbone!

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  • seadog6608PWCM 2012/03/07 12:46:43 (edited)
  • doreen.k.gray 2012/03/05 20:46:40
  • seadog6... doreen.... 2012/03/07 12:47:39
  • BlueRepublican 2012/03/05 18:10:47
    BlueRepublican
    +6
    Supply and demand folks. Market forces will dictate consumption and conservation, not policy. Govt should stay out of the way.
  • chgo 2012/03/05 16:36:03
    chgo
    We import about a 9 million barrels of oil, Einstein. The idiot GOP's several bills to "expand domestic energy production" would have zero impact on gas prices, and would in fact accelerate the closure of U.S. refineries.
  • Kiosk Kid chgo 2012/03/05 19:20:43
    Kiosk Kid
    +4
    Can you produce facts not party line crap? Marxism doesn't work! The Law of Supply and Demand does work.
  • chgo Kiosk Kid 2012/03/05 19:59:31
  • Kiosk Kid chgo 2012/03/05 22:13:36 (edited)
    Kiosk Kid
    +3
    How does your reference prove you accusation; "The idiot GOP's several bills to "expand domestic energy production" would have zero impact on gas prices, and would in fact accelerate the closure of U.S. refineries.?"

    You need fact to prove your crap. You only provided a reference on oil imports today.

    There is one fact; the Natural law of Supply and Demands governs prices.

    Marxism doesn't work!
  • chgo Kiosk Kid 2012/03/05 23:16:20
    chgo
    The idiot GOP's several bills to "expand domestic energy production" include the keystone XL, ending EPA regulations, more gov't subsidies, and more tax breaks.

    There is no "Natural law of Supply and Demands", economics illiterate. It's only a theory. And It clearly doesn't apply to when youre trying to determine prices of gasoline. There's a whole lotta gasoline hoarding going on. Speculation is one of the main causes. from. http://www.economicpopulist.o... A Commodities Futures Trading Commissioner study last year stated that each million barrels of net speculativinflation also results in higher gas prices. There's a 22 percent cut paid to Wall Street speculators before gasoline is refined, adding that a typical Ford-F150 fill-up will include $14.56 paid to speculators. Yikes! The prospect of an Iranian blockade of the Straits of Hormuz has led to panic buying in Europe and Asia, and that inflates prices. Oil production has also been disrupted by political unrest in Sudan, Nigeria and Yemen too.
  • Kiosk Kid chgo 2012/03/06 14:04:47
    Kiosk Kid
    +2
    The speculation is because the amount of supply is in dispute. If we produced our own oil domestically, there would be no dispute on the amount of supply.


    You said; "Oil production has also been disrupted by political unrest in Sudan, Nigeria and Yemen too." Well, there wouldn't be any disruption if Liberals would let us produce our own oil.

    Big Government Liberals are cause of the speculation.
  • chgo Kiosk Kid 2012/03/06 18:07:56
    chgo
    Ignoramus, there is no way in hell we can more energy independent by producing our own oil domestically. It's kinda hilarious how you think you know you're talking about. If you take the research the actual truth, not what the hell you hear on Fox News or any pro-Big Oil source, you wouldn't sound so ignorant. regurgitating what you've read from some right-wing media outlet doesn't make an expert. How's more domestic drilling going to solve our energy crisis? We import around 9 million barrels of crude oil per day, but export only about 50,000 barrels per day (less than 1% of our crude oil production).

    http://www.eia.gov/dnav/pet/p...

    There is little to no chance of discovering any significant new onshore oil fields in the U.S. There is a good possibility of discovering major deposits of oil offshore, but offshore drilling has been banned in many areas. http://maps.unomaha.edu/Peter...

    The fact that we import 9 million barrels of oil per day demonstrates that we do not have "plenty of oil and gas in the U.S.A.The truth is that the U.S. does not produce nearly enough oil to meet our fuel demands, but we import about a million barrels a day more than we need and export some of the excess as finished products, creating jobs and helping the balance of trade in the process.


    "The ...



























    Ignoramus, there is no way in hell we can more energy independent by producing our own oil domestically. It's kinda hilarious how you think you know you're talking about. If you take the research the actual truth, not what the hell you hear on Fox News or any pro-Big Oil source, you wouldn't sound so ignorant. regurgitating what you've read from some right-wing media outlet doesn't make an expert. How's more domestic drilling going to solve our energy crisis? We import around 9 million barrels of crude oil per day, but export only about 50,000 barrels per day (less than 1% of our crude oil production).

    http://www.eia.gov/dnav/pet/p...

    There is little to no chance of discovering any significant new onshore oil fields in the U.S. There is a good possibility of discovering major deposits of oil offshore, but offshore drilling has been banned in many areas. http://maps.unomaha.edu/Peter...

    The fact that we import 9 million barrels of oil per day demonstrates that we do not have "plenty of oil and gas in the U.S.A.The truth is that the U.S. does not produce nearly enough oil to meet our fuel demands, but we import about a million barrels a day more than we need and export some of the excess as finished products, creating jobs and helping the balance of trade in the process.


    "The speculation is because the amount of supply is in dispute."

    Wrong again. what a surprise. speculation is seen as a primary cause for higher gas prices.







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    A government agency called the CFTC(Commodity Futures Trading Commission) did an investigation. The CFTC found out that that Wall St caused the entire 2008 high oil price fiasco.
    the important parts of the article:

    The CFTC complaint alleges that the traders carried out the scheme in January and March 2008.

    By mid-January they had accumulated 4.6m barrels of physical oil, or two-thirds of oil available for delivery against the February WTI futures contract. In March they bought 6.3m barrels, equal to 84 per cent of oil available for delivery against the April contact.

    The regulator alleged that Parnon Energy, a US oil trader, together with its Swiss and UK affiliates Arcadia Energy (Suisse) and Arcadia Petroleum, made more than $50m from the scheme in January and March 2008 [...]

    The buying created the impression of a shortage and pushed up the price of WTI futures on the New York Mercantile Exchange. Ahead of their move in the physical market, the traders allegedly bought large amounts of futures and other financial instruments that would profit from a price rise.

    “They wanted to lull market participants into believing that supply would remain tight,” the CFTC said. “They knew that as long as the market believed that supply was tight and getting even tighter, there would be upward pressure on the prices of WTI for February delivery relative to March delivery, which was their goal.”
    The CFTC also found out that overall 81% of all oil contracts was bought/sold by financial institutions and 19% by the companies that actually take control of oil. Back 1990 before financial institutions were allowed to buy/sell oil contracts speculators made up of 30% total of the trading. Back in the good ole days before Enron existed and oil was .99 a gallon.
    (more)
  • Kiosk Kid chgo 2012/03/07 00:49:58 (edited)
    Kiosk Kid
    +1
    You gave a reference on imports not oil reserves. Let me slam the Marxist Liberals with facts.

    "While oil shale is found in many places worldwide, by far the largest deposits in the world are found in the United States in the Green River Formation, which covers portions of Colorado, Utah, and Wyoming. Estimates of the oil resource in place within the Green River Formation range from 1.2 to 1.8 trillion barrels. Not all resources in place are recoverable; however, even a moderate estimate of 800 billion barrels of recoverable oil from oil shale in the Green River Formation is three times greater than the proven oil reserves of Saudi Arabia. Present U.S. demand for petroleum products is about 20 million barrels per day. If oil shale could be used to meet a quarter of that demand, the estimated 800 billion barrels of recoverable oil from the Green River Formation would last for more than 400 years1.

    http://ostseis.anl.gov/guide/...

    You need to produce facts not crap. Prove that if we produce our oil prices wouldn't go down according to the law of Supply and Demand.

    Come on slam me facts but you can't. We have a four hundred year supply of oil and except for big government Liberals we could be creating jobs by exporting it instead of creating jobs overseas by importing oil.
  • chgo Kiosk Kid 2012/03/07 01:35:17 (edited)
    chgo
    Shale oil? Are you dense? shale oil, is a nasty unconventional oil. And what about all that sulfur and other impurities that is emitted? 400 year supply is unstable estimate too.

    And who's gonna pay for this? the taxpayers? ha? I bet the hypocrite crooks at Big Oil who want "small government" won't invest in this crap if they don't get their tax breaks and subsidies for it.

    The production of shale oil has huge technical difficulties and costs. Not all resources in place are even recoverable, like your link say. In March 2011, the United States Bureau of Land Management called into question proposals in the U.S. for commercial operations, stating that "There are no economically viable ways yet known to extract and process oil shale for commercial purposes.
    http://edocket.access.gpo.gov...
    That right there officially destroys your logic.

    And I see you have nothing to refute regarding my claims speculation is causing the rise in gas prices. figures. run along now.
  • Kiosk Kid chgo 2012/03/07 02:56:03
    Kiosk Kid
    +1
    We import tar sand oil from Canada today. It is the same thing as shale oil.

    "Canada is already the top exporter of oil to the U.S., with half of that oil coming from tar sands. Over the past decade production from tar sands more than doubled from 600,000 barrels per day in 2000 to 1.35 million barrels per day in 2009. But IHS-CERA says the potential is much larger and could range from 3.1 mbd to 5.7 mbd by 2030."
    http://blog.chron.com/newswat...

    You said; "There are no economically viable ways yet known to extract and process oil shale for commercial purposes."

    Let me slam the Liberal with facts. Estonia, Brazil, and China produce shale oil. “As of 2010, major long-standing extraction industries are operating in Estonia, Brazil, and China. Its economic viability usually requires a lack of locally available crude oil. National energy security issues have also played a role in its development.”

    http://en.wikipedia.org/wiki/...

    The Natural Law of Supply and Demand proves that producing more oil will lower the price.

    Shale and Tar sand oil are being produced today. Do you want me to slam you with more reference? We imported 1.35 million barrels of Tar Sand oil from Canada in 2009.
  • chgo Kiosk Kid 2012/03/07 06:37:25
    chgo
    Dummy, tar sand (mixture of sand, clay and water,and a form of petroleum) is not the same "thing" as shale oil. So, how oil companies gonna afford : Shale oil extraction?

    we import 2.3 million barrels of oil per day from Canada. But why do we export any oil at all? Oil that is exported to Canada is most likely produced in fields that have easier access to Canadian refineries than to U.S. refineries. Clearly, since we import over 50 times as much oil from Canada as we export to them, we aren't doing it because they need the oil worse than the U.S. does.
  • Kiosk Kid chgo 2012/03/07 15:34:07
    Kiosk Kid
    You’re spewing crap. Shale oil and Tar sand oil are both very heavy oils and must be heated. Shale oil has a Kerogen content while tar sand oil has a bitumen content.

    How much will it cost to produce a barrel of shale oil from oil shale?

    "We believe we can produce commercial quantities of shale oil in production costs similar to petroleum from challenging frontier environments (deep offshore, arctic areas, oil sands)."

    http://amso.net/FAQ.aspx

    Oil shale cost about the same as Tar sand oil to produce. Shell oil is also ready to produce oil shale.

    The US has deposits of tar sand oil also that Liberals won't let us produce.

    You should read the reference above, you would learn something instead of spewing party line crap.
  • chgo Kiosk Kid 2012/03/07 20:24:01
    chgo
    So, you can dirty our air even more? no thank you. If you can't find a safe. EFFECTIVE way to extract shale oil and get more bang for the buck, why invest in it? The only reason Big Oil is not investing its time and money in this is because they want fed gov't (the tax payers) to pay for it (subsidies, tax breaks, and all) and rescue them when they go under, which they will. ASk yourself why there has not been any new nuclear reactors built and are still up in running since the 1980s. the big investors like Chase and JP Morgan never invest their funds in nuclear energy. you exactly why.

    China is stealing all of our economic trade because of BIg Oil and people like you.
  • Kiosk Kid chgo 2012/03/07 23:40:56
    Kiosk Kid
    You spewed a lot of accusations but provided no facts or argument.

    You said; “ASk yourself why there has not been any new nuclear reactors built and are still up in running since the 1980s.” Simple tree hugging Liberals didn’t like nuclear? In 1973 Liberals liked coal fire plants. That is why we built coal fired plants rather then Nuclear.

    However, how does a nuclear reactor power a car to go 300 miles like a gasoline car? That is the issue. There is no alternative to gasoline powered cars today? Nothing!

    In my opinion there won’t be for 50 years. What is the tree hugger going to do hang a wing turbine or a solar panel on a car?

    Liberals have no common sense they are like babies. “I want my bottle now?” I want my alternate energy now.

    China is taking it because big government Liberals are forfeiting it. A good example is the Canadian XL pipeline. If Liberals don't want the Canadian tar stand oil then it will go to China.

    Marxism doesn’t work! Try to produce some facts. Don't just spew party line crap.
  • chgo Kiosk Kid 2012/03/08 06:38:01
  • Charles E chgo 2012/03/07 22:43:08
    Charles E
    +2
    More name calling!
  • Charles E chgo 2012/03/07 22:41:44
    Charles E
    +1
    The only Obama government funding of oil drilling is for wells in Brazil.

    Billions for unreliable "green" energy but higher taxes proven energy sources.

    That's what we get for electing a community organizer.
  • chgo Charles E 2012/03/08 16:13:52
    chgo
    For many years, federal, state and local governments have provided subsidies to energy producers and purchasers. These subsidies are in the form of tax incentives, direct spending, research and development funds and other support mechanisms.

    As early as 1916, the federal government instituted income tax incentives to encourage individuals and corporations to drill for oil. During the 1930s, federally financed dams created hydroelectric power. From the 1950s onward, the federal government financed research into nuclear power. More recently, the federal government has provided research funding and other financing to expand the availability of renewable energy sources. 2 Virtually all U.S. energy resources have received or currently receive subsidies.

    In 2006, federal tax subsidies for the oil and gas industry amounted to an estimated $3.5 billion, based on tax data from the U.S. Office of Management and Budget (OMB) and additional analysis by the Comptroller. The largest oil and gas tax subsidies are the Expensing of Exploration and Development Costs Credit, the Percentage Depletion Allowance and the Alternative Fuel Production Credit. All are intended to increase the production of domestic oil and gas.
    http://www.window.state.tx.us...

    the funding of Solyndra was a bipartisan effort...



    For many years, federal, state and local governments have provided subsidies to energy producers and purchasers. These subsidies are in the form of tax incentives, direct spending, research and development funds and other support mechanisms.

    As early as 1916, the federal government instituted income tax incentives to encourage individuals and corporations to drill for oil. During the 1930s, federally financed dams created hydroelectric power. From the 1950s onward, the federal government financed research into nuclear power. More recently, the federal government has provided research funding and other financing to expand the availability of renewable energy sources. 2 Virtually all U.S. energy resources have received or currently receive subsidies.

    In 2006, federal tax subsidies for the oil and gas industry amounted to an estimated $3.5 billion, based on tax data from the U.S. Office of Management and Budget (OMB) and additional analysis by the Comptroller. The largest oil and gas tax subsidies are the Expensing of Exploration and Development Costs Credit, the Percentage Depletion Allowance and the Alternative Fuel Production Credit. All are intended to increase the production of domestic oil and gas.
    http://www.window.state.tx.us...

    the funding of Solyndra was a bipartisan effort. While the conservatards in D.C. were bashing democrats and Solyndra, many of them were secretly pushing for loan guarantees and were getting paid by lobbyists.
    http://reason.com/archives/20...


    You act like being a community organizer if a bad thing Since when did helping out the poor and disadvantage become a big thing to the conservatards?. Wasn't Jesus something like a community organizer, Christian? Wasn't He preaching to his followers to be community organizers, too?
    (more)
  • voice_matters 2012/03/05 16:11:31
    voice_matters
    libby too bad oil production is up in america. too bad obama never said it was due to his policy. but with those facts it does help obama say we do not need to allow more drilling or fracking at this time. do i agree with that stancve of obama no, but it does give him the ability to say it and the facts do back him at this time.
  • Scout 2012/03/05 15:38:20
    Scout
    Oil companies are international entities. They are in no way obliged to sell oil they pump from American oil fields to Americans. In fact, a big reason that prices are rising is that oil companies are selling their crude to China and India, who will pay more and thus, raise the price for everyone.
  • flrdsgns 2012/03/05 15:24:38
    flrdsgns
    The bottom line is that there is more oil being drilled in this country than before yet the prices still go sky high. To me, that says the oil that comes out of this country is being exported to the highest bidder. Government needs to make sure the oil drilled in this country, stays in this country.
  • merlinskiss 2012/03/05 15:16:35
    merlinskiss
    I don't think you understand the basics of what is driving oil prices. Seems the rote and rhetoric have taken over and ruled your thoughts. Try this... I doubt you will agree though, because facts are not as inflammatory or reactionary as fiction. Oil companies are quite happy with world events and what is going on. Wall street undestands what drives gas prices. To bad sheeple don't!

    http://www.sodahead.com/unite...
  • ALofRI 2012/03/05 15:04:13
    ALofRI
    CRAP! Whatever! Here's one thing you can't cover up. Our oil consumption has dropped since Obama has been in office, and guess what, For the first time in history we are producing more than we are using! Has that made the price drop?? NO! All it does is add more American oil to the world market, and add more PROFIT to the oil companies. "Drill, baby, DRILL...so we can send more of our American oil to China and India! Smart, very smart! Give away OUR oil so that Oil Companies can get richer AND suck up our "subsidies" that they would be destitute without, at the same time! Can you say "racket"?? HELP US conservatives...we're going broke, sniff, sniff!

    Want to see $10.00 gas prices like in England (for one)? Do what Rmoney and Santorum recommend, attack Iran! It may not be avoidable, but I'm damned glad Obama is trying everything else before that. Of course, if it has to be done, and the prices WILL skyrocket, he'll be blamed for that also. Wellll, he should have done it OUR way! As I said...CRAP!
  • beavith1 ALofRI 2012/03/05 15:25:12
    beavith1
    +4
    ummm. we are a net exporter of refined products.

    we still use prodigous amounts of imported oil.

    your argument makes no sense.

    as far as your second paragraph, what has Obama done excpet take credit for a process that started under Bush? a process that he's tried to to strangle at every turn? why would he turn EPA on the trail of fracking. why would he turn the SEC on to the trail of fracking?
  • Ron 2012/03/05 14:48:50
    Ron
    It's an evil plot... bwaaahaaahaaahaaaaaa!!
  • voice_m... Ron 2012/03/05 16:14:51
    voice_matters
    drilling more oil is an evil plot? don't get the lib way of thinking
  • Ron voice_m... 2012/03/05 16:21:53
    Ron
    I know you don't.. I didn't expect that you would.
  • voice_m... Ron 2012/03/05 16:55:57
    voice_matters
    thanks for showing that you can not defend your claim that drilling is evil so you leave me no choice.
  • seadog6... Ron 2012/03/07 12:49:43
  • Ron seadog6... 2012/03/07 13:24:23
    Ron
    +1
    I didn't think so, they are so sure of themselves they blocked me. Is it any wonder they don't understand my comment.
  • seadog6... Ron 2012/03/07 14:06:26
  • Ron seadog6... 2012/03/07 14:09:01
    Ron
    The ones calling themselves conservatives right now are pretty far off from what it used to mean.
  • seadog6... Ron 2012/03/07 14:14:12
  • Someone Else 2012/03/05 14:09:54
    Someone Else
    +1
    Flood the market with billions more gallons of crude and the price will come down
  • Risk 2012/03/05 13:35:06
    Risk
    +5
    Remember, the Koran teaches it's OK to lie to infidels as long as it furthers
    your cause !
  • JT For Political Reform 2012/03/05 13:27:10
    JT For Political Reform
    +2
    As Wilson said:

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