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January 14, 2015

Obama’s Oil Boom?

In advance of his State of the Union speech on Jan. 20, Barack Obama and his propaganda machine are in high gear, claiming credit for, among other things, lower fuel prices. Though Obama has erected an insurmountable gauntlet to oil and gas exploration leases, he recently claimed, “We’re saving drivers about 70 cents a gallon at the pump.” Really? Who is “we”? And this week, after reaffirming his commitment to veto the Keystone XL pipeline project, Obama had the unmitigated audacity to again claim credit for the additional drop in prices: “America is the number one producer of oil, the number one producer of gas. That’s helping to save drivers about $1.10 a gallon at the pump over this time last year.” Recall if you will that when Obama entered office, gasoline cost about $1.60 per gallon. In four short years, on top of the deepening Obama recession, his severe constriction on oil production increased the price to more than $4.00 a gallon. Ahead of the 2012 election, Obama declared, “We can’t just drill our way to lower gas prices. … [Republicans] are dusting off their three-point plan for $2 gas.” Currently the average price for a gallon of gas is under $2 in 18 states. But for the record, oil production on government land is down 16% since 2009, while oil production on private land has increased 61%. Those gains are despite Obama’s obstruction of oil exploration.

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