Obama Energy Policy: Lies vs Facts (Part 2)

March 17, 2012
By

What Obama WON'T tell you. (www.polination.wordpress.com)

One day before Obama’s long on lies and short on facts energy policy  “speech”  Thursday, John Merline, of Investors Business Daily debunked one of Obama’s largest and most oft repeated lies concerning the “scarcity” of U.S oil. Below are the highlights of Scarce Oil? U.S. Has 60 Times More Than Obama Claims

Obama myth:  “With only 2% of the world’s oil reserves, we can’t just drill our way to lower gas prices,” he said. “Not when we consume 20% of the world’s oil.”

Merline fact:  But the figure Obama uses — proved oil reserves — vastly undercounts how much oil the U.S. actually contains. In fact, far from being oil-poor, the country is awash in vast quantities — enough to meet all the country’s oil needs for hundreds of years.

The U.S. has 22.3 billion barrels of proved reserves, a little less than 2% of the entire world’s proved reserves, according to the Energy Information Administration. But as the EIA explains, proved reserves “are a small subset of recoverable resources,” because they only count oil that companies are currently drilling for in existing fields…….A separate Rand Corp. study found that about 800 billion barrels of oil shale in Wyoming and neighboring states is “technically recoverable,” which means it could be extracted using existing technology. That’s more than triple the known reserves in Saudi Arabia.

All told, the U.S. has access to 400 billion barrels of crude that could be recovered using existing drilling technologies, according to a 2006 Energy Department report.

When you include oil shale, the U.S. has 1.4 trillion barrels of technically recoverable oil, according to the Institute for Energy Research, enough to meet all U.S. oil needs for about the next 200 years, without any imports.

And even this number could be low, since such estimates tend to go up over time.

Back in 1995, for example, the USGS figured there were 151 million barrels of oil in North Dakota’s Bakken formation. In 2008, it upped that estimate to 3 billion barrels to 4.3 billion barrels — a 25-fold increase. Now, some oil analysts say there could be as much as 20 billion barrels there.

And USGS in 2002 quadrupled its oil estimate in Alaska’s National Petroleum Reserve.

The staff feeding the Presidential teleprompter are getting lazy. (Or the constant repeat day after day of half-truths, malicious mockery and out right lies has finally turned their brains to minion mush and they actually believe the idiocy flowing forth from the lips of Dear Leader.)

Considering Merline’s piece was just one day before the group Presidential adulation event the Corner was willing to give the teleprompter a little slack. But then I came across THIS Investors.com editorial of February 23, 2012:calling out five of the most pervasively repeated lies the President continues to spout on the campaign trail:

Obamaspeak:  “We’re focused on production.”

Fact:  While production is up under Obama, this has nothing to do with his policies, but is the result of permits and private industry efforts that began long before Obama occupied the White House.

Obama has chosen almost always to limit production. He canceled leases on federal lands in Utah, suspended them in Montana, delayed them in Colorado and Utah, and canceled lease sales off the Virginia coast…………..The Energy Dept. says Gulf oil output will be down 17% by the end of 2013, compared with the start of 2011. Swift Energy President Bruce Vincent is right to say Obama has “done nothing but restrict access and delay permitting.”

Obamaspeak:  “The U.S. consumes more than a fifth of the world’s oil. But we only have 2% of the world’s oil reserves.”

Fact:  Obama constantly refers to this statistic to buttress his claim that “we can’t drill our way to lower gas prices.”……It’s bogus………In fact, the U.S. has a mind-boggling 1.4 trillion barrels of oil, enough to “fuel the present needs in the U.S. for around 250 years,” according to the Institute for Energy Research. The problem is the government has put most of this supply off limits.

Obamaspeak:  “Because of the investments we’ve made, the use of clean, renewable energy in this country has nearly doubled.”

Fact:  Production of renewable energy — biomass, wind, solar and the like — climbed just 12% between 2008 and 2011, according to the federal Energy Information Administration.

Obamaspeak:  “We need to double-down on a clean energy industry that’s never been more promising.”

Fact:  Renewable energy simply won’t play an important role in the country’s energy picture anytime soon, accounting for just 13% of U.S. energy production by 2035, according to the EIA.

Obamaspeak:  “There are no short-term silver bullets when it comes to gas prices.”

Fact:  Obama could drive down oil prices right now simply by announcing a more aggressive effort to boost domestic supplies. When President Bush lifted a moratorium in 2008, oil prices immediately fell $9 a barrel.

Obama said in his speech that Americans aren’t stupid. He’s right about that, which is why most are giving his energy policy a thumbs down.

And again, for all you dwainbwains lurking about seeing red about now, don’t forget 2008.

The fact that Obama has no problem lying through his teeth now is because this is exactly what he wants. He just has to spin it in the right way.

Remember this is the man who stated in 2008 regarding high gas prices that “I think I would have preferred a gradual adjustment”, that we could all just keep our tires inflated and get regular tune-ups and we could save as much oil as our foreign imports, and who’s now Energy Secretary was going around telling everyone how happy he’d be if the United States could just achieve the prices consumers are forced to pay in Europe.

Perhaps the best “fact” of all is this quote from Merline’s piece:

“This is not a geological problem — it’s a political problem,” said Dan Kish, senior vice president for policy at the Institute for Energy Research. “We’ve embargoed our own supplies.”

Obama has embargoed America from her own resources, pushed the price of gasoline to historic highs, and done it all for the sake of his own pathetic political agenda.

No one in Congress has the guts to point it out, but if that isn’t a “high crimes and misdemeanor” than what is?

Additional links should you desire a few more facts:

http://www.eia.gov/analysis/requests/federallands/

http://lonelyconservative.com/2012/03/chart-of-the-day-drilling-on-federal-lands/

http://www.instituteforenergyresearch.org/2012/03/15/fossil-fuel-production-on-federal-lands-at-9-year-low/

http://washingtonexaminer.com/opinion/editorials/2012/02/tell-america-whole-truth-about-gas-prices-mr-president/315791

http://nation.foxnews.com/gas-prices/2012/03/16/obama-drilling-fact-vs-fiction

And he also completely ignores coal as an American energy source:

http://junkscience.com/2012/03/07/obama-energy-speech-all-of-the-above-strategy-omits-coal/

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One Response to Obama Energy Policy: Lies vs Facts (Part 2)

  1. anson burlingame on March 17, 2012 at 8:41 am

    Geoff,

    Well researched and with the correct bottom line, in my view, though you do not push the TWO PART bottom line, again, in my view.

    America might be “awash” in techincally recoverable reserves and of course should proceed with all due haste to recover those reserves. First that provided more fuel but it also drives down speculation prices.

    But as well we must do more as individuals to conserve the use of energy, particularly transportation energy. If Americans continue to purchase 15-20 MGP vehicles, new or used, we are not on a good path for conservation. And when the market still supports building such low mileage vehciles, car companies (the dumb ones) will continue to bbuild them.

    Obama and Chu in a typical liberal fashion what government to force those higher mileage choices upon the consumers. I believe the solution is for American consumers to do so based on their own choices.

    Anson

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