Obama's energy policies fail

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I have read several reports that America has 1.4 trillion barrels of recoverable oil. That is enough for 250 years! When President Obama says that anybody who says we can drill our way out of high gas prices “doesn’t know what they are talking about,” either Obama doesn’t understand what he is talking about, or is lying.

So as gas prices skyrocket, the media would rather focus on a non-issue such as birth control and frame the Republicans as extreme while ignoring real bread-and-butter issues. I am waiting for the media to ask the Republican candidates, “When did you stop beating your wife?” The media loves the “gotcha” game and plays it to no end with conservatives – yet rarely addresses Obama’s prevarications.

Meanwhile, Obama wants to take credit for increases in American oil production. The reality is that Obama has slowed down the permitting process and is wasting billions of taxpayers’ dollars on “green” energy companies such as Ener1, a battery company touted in Obama’s State of the Union address that has now gone bankrupt. Obama has bet on green energy, and this bet with taxpayers’ dollars has failed.

Obama states that oil production and exports have gone up under his administration. Yes, oil production has increased. The fact is, that increase in production and exports is because of permits that President George W. Bush issued to the oil companies. Bush increased permits by 70 percent over President Clinton. Obama has actually cut permits being issued to oil companies by about 70 percent for deep-water and shallow-water oil production.

It takes about three to four years to bring oil into production, so the increase in oil production didn’t have its roots in the Obama administration. You can credit Bush for that!

David G. Brown

Augusta

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ultrarnr
944
Points
ultrarnr 03/15/12 - 10:30 pm
7
4
The truth is we can't drill
Unpublished

The truth is we can't drill our way out of high gas prices. Oil trades on a world market and the United States simply doe not have enough reserves to overcome increasing demand from developing nations. More importantly per the CFTC 64% of all oil contracts are held by speculators who are betting on rising prices due to a number of global factors. So every time we fill up we are lining the pockets of Wall Street speculators. Could a little more regulation bring the price of gas down? Just something to think about.

Haki
31
Points
Haki 03/15/12 - 10:33 pm
7
5
Ultra is speaking facts. The

Ultra is speaking facts. The writer is not.

Insider Information
4009
Points
Insider Information 03/15/12 - 10:54 pm
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6
1) If you "believe" in

1) If you "believe" in Obama's energy policies, then I have a big 'ole bucket of algae to sell you.

2) It's amazing how the president's believers can ignore one of the basic tenants of capitalism - supply and demand.

3) When the president talks about oil production, he refers to what the nation is producing. You will never hear him say that he has increased production. Production has increased in spite of the president, not because of the president.

allhans
24885
Points
allhans 03/16/12 - 12:28 am
6
2
I would think that if we

I would think that if we supplied our own oil then we could set our own prices and world prices would have no effect on us.
Wouldn't it be nice to be energy sufficient and no longer
let OPEC jerk us around.

Have you seen the riches of countries such as Saudi Arabia, filthy rich and it comes from selling oil to gullible nations like the U.S. We sit on ours and buy theirs...My, MY!

carcraft
28460
Points
carcraft 03/16/12 - 01:33 am
4
4
The EPA has is about to issue

The EPA has is about to issue new rules for fracking that will reduce natural gas production by 50%. Oh sure Obama is doing every thing he can to produce more energy by drilling!

carcraft
28460
Points
carcraft 03/16/12 - 01:49 am
4
3
Obama calls the Republicans

Obama calls the Republicans members of the Flat earth society yet the EPA doesn't believe it's OWN scientific studies.. http://www.forbes.com/sites/christopherhelman/2012/03/12/epa-doubts-its-...

carcraft
28460
Points
carcraft 03/16/12 - 01:58 am
6
4
It would appear Prresident

It would appear Prresident Obama and the White House simply don't know what they are talking about in terms of oil and gas production on federal land http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/do...

carcraft
28460
Points
carcraft 03/16/12 - 01:59 am
3
3
Haki-Could you provide some

Haki-Could you provide some documentation on your assertions !

copperhead
1035
Points
copperhead 03/16/12 - 02:40 am
2
11
hussein is lord amen hussein

hussein is lord amen hussein knows what is best for us amen mmm mmm obama mmm mmm tingle tingle drool drool mmm mmm obama mmm mmm amen hussein bless us amen EVERYBODY! mmm mmm obama mmm mmm amen

nofanofobama
6993
Points
nofanofobama 03/16/12 - 05:26 am
3
4
for all of you who are in

for all of you who are in favour of tapping our oil reserve..if we use that oil to put out in the market imagine what would happen if we just drilled our know oil resrves..obumler is lying we have a VAST RESERVE OF OIL we have a vast reserve of natural gas and coal yet obumler says we cant rely on fossil fuel that we dont have..it a LIE..HE HATES FOSSIL FUEL ..in 2008 he said it was OKto have 4 dollar a gallon gas..he said go ahead build a coal burnibg electric plant. ...we[OBUMLER AND HIS RADICALS]would tax you into bankruptcy. til the recent killing of keystone.the truth is we are an oil based economy and will be for years..we can develop alt. sources thru the private sector but we can do a lot now to create independance and jobs right now with our vast natural resources..and we can do it enviromently friendly we have the technology..

carcraft
28460
Points
carcraft 03/16/12 - 05:37 am
4
4
Well Obumbler's Fisker Car

Well Obumbler's Fisker Car company ( Fisker motors recieved over $500 million in energy loans to build cars in Finnland) one of Fisker's products "the Karma" , a $100,000.00 dollar car, wa bought by consummer reports. The car traveled about 180 miles before it died. Didn't run out of batteries, it broke down! Your tax dollars at work on one of Obama's energy inovations!!! Pond scum anyone?

TParty
6004
Points
TParty 03/16/12 - 05:43 am
5
0
"Meanwhile, Obama wants to

"Meanwhile, Obama wants to take credit for increases in American oil production."

So everyone agrees that there is an increase in American oil production? And yet the gas prices are getting higher.

Anyone know why?

Free market speculators. The same people who crashed the economy are now speculating on oil.

Despite U.S. petroleum reserves being at an eight-year high, the price of oil rose dramatically beginning in 2006. While demand rose, supply kept pace. Yet, prices still skyrocketed!! This means that the laws of supply and demand no longer applied in the oil markets. Instead, an artificial market developed, one that looks very similar to the betting Wall Street which crashed the economy just a few years ago.

nofanofobama
6993
Points
nofanofobama 03/16/12 - 05:57 am
3
3
oil is based off futures..we

oil is based off futures..we have an unfriendly prez and adminstration that is killing our energy sector..we have potential oil disruption because of IRAN. the far east is booming china and india for example due to less regulation less taxes and more friendly business enviroment..and the biggest culprit.the debt and devaluation of the dollar thru printing of money..all commodities are based on the dollar..the less the value of the dollar the less commodities it will buy...its the obumler adminstration that is anti captilism and oil. there they are un-american. i

carcraft
28460
Points
carcraft 03/16/12 - 06:47 am
3
3
Tparty, I pointed out the

Tparty, I pointed out the anti fracking regulations pending in the EPA. If you are using fracking do you drill more wells or do you sit tight to see what is going to happen? If you are in the oil business and see the issuing of permits being cut by 70% do you assume you are going to be able to keep producing and locating new sources of oil or do you think it will be harder to find and more costly and time consuming? Then Obama sit and lies to the American public about the amount of oil America has when it is his administration that is preventing its use. Then Obama tells Americans they have to accept new renewable energy options and cut gas consumption, unless it is used to haul him and Michelle around the country. When you look at the renewable energy options they don't seem so attractive, like Ener 1 battery company, Fisker $100,000 Karma that goes 180 miles before it breaks down, Solundra, abound, uni solar all bankrupt...Yes we need to embrace Obama's newfangled renewable energy systems, ooops we have to the tune of billions of wasted tax dollars on Obama's "bets"! Then Obumbler gets up and compares me to a member of the flat earth society! Well since the Karma is a high end car why doesn't Obama embrace "renewable energy" and use the Fisker Karma when he and Michelle take a vacation? That way he could cut his carbon foot print, and save tax payers millions because he and Michelle would stay at a Motel Six just outside DC while his stupid car gets fixed!

carcraft
28460
Points
carcraft 03/16/12 - 07:13 am
2
2
Here is Obama saying he would

Here is Obama saying he would like higher gas prices, watch out what you wish for, you just might get it! http://www.youtube.com/watch?v=t4Tmi_fpUHs

Insider Information
4009
Points
Insider Information 03/16/12 - 07:28 am
1
3
TParty, production has

TParty, production has increased because of permits approved under Bush and drilling on private land.

Demand, however, is outpacing increased production.

If Obama would move out of the way, production would increase even more and then outpace demand.

deadline
0
Points
deadline 03/16/12 - 08:10 am
1
0
Speculators and Canyoneros!

Speculators and Canyoneros!

Little Lamb
49036
Points
Little Lamb 03/16/12 - 07:44 am
1
1
ultrarnr posted: Could a

ultrarnr posted:

Could a little more regulation bring the price of gas down?

No, regulation increases prices.

carcraft
28460
Points
carcraft 03/16/12 - 07:54 am
0
1
deadline- The profit margins

deadline- The profit margins for oil companies are about 6%. To reasearch, drill and develope oil and gas wells costs billions of dollars! Pharmaceutical companies and about 6 or seven other industries have higher profit margins! How many billions do you personally have to invest in oil wells? It is a high risk game and NOT for the faint of heart. I own mutual funds with energy production sector stock so when the oil companies profit I do to. What is the pond scum profit margin these days?

Techfan
6462
Points
Techfan 03/16/12 - 07:58 am
3
0
nofan: So we should be like

nofan: So we should be like China?

Techfan
6462
Points
Techfan 03/16/12 - 08:02 am
4
0
We should drill our own oil.

We should drill our own oil. Out of the kindness of their hearts, all of the companies would then sell it below world market values, sacrificing billions in profits. Good one.

deadline
0
Points
deadline 03/16/12 - 08:11 am
0
1
carcraft: You sir are

carcraft: You sir are correct, retracted.

Techfan
6462
Points
Techfan 03/16/12 - 08:18 am
2
1
From the grave, Brietbart's

From the grave, Brietbart's selectively edited videos keep on giving. The sad thing is some folks still fall for it.

nofanofobama
6993
Points
nofanofobama 03/16/12 - 08:32 am
1
3
tech fan in 2009 when the

tech fan in 2009 when the world was in recession the chinese cut busines taxes..their economy is booming...is ours?????? they learned that a socialist economy would not work. has obumler???? and yes we should drill our own oil. how can anybody be against that?????? unless you like less jobs, less revenue to govts. and supporting people who hate us...its a no brainer..except for obumler and his supporters..

nofanofobama
6993
Points
nofanofobama 03/16/12 - 08:35 am
1
4
techfan ..brierbarts videos

techfan ..brierbarts videos from the grave sure beat an obumler in the office who is brain dead...

allhans
24885
Points
allhans 03/16/12 - 08:35 am
0
0
We are told that the US only

We are told that the US only exports excess. More than demand in the US..So, if that is so, why are we importing?
----
More oil production now, yes, but none that the president has any control over. All is on private land. The president again is trying to get credit for that which credit is not due.

dichotomy
37448
Points
dichotomy 03/16/12 - 08:38 am
2
1
Speculators, drilling,

Speculators, drilling, fracking, global demand. Yes, all of the above go into oil prices. And there are things the president could do to help the situation. The problem is, he does nothing. He doesn't have a clue. Either that or Obama is purposely driving prices higher as part of his ideology.

Speculators can be controlled by the stroke of a pen. No new laws needed. Federal regulators, with the stroke of a pen, can require the speculators put, up front, more cash money to buy oil futures. Right now a large amount of futures can be controlled with a very small amount of up front money. Require the speculators to front a higher percentage of cash money to buy futures. Stroke of a pen solution.

Congress could take a swipe at them too with a windfall profits tax on commodities speculation. I think most people would agree with "if you make a lot of money off of other people's misery you will pay a lot of taxes on that money".

It would not take very much effort to put a paragraph in new federal land oil leases that said something to the effect of "all oil produced from this lease must be refined and distributed to retail outlets within the United States."

The Canadian pipeline, and increased drilling on federal lands, would of course have an impact on prices simply due to the dependability of the supply. Much of the oil we buy today has a 20% , or more, "fear factor" price premium built into the price because it comes from the Middle East. Domestic and Canadian supply would immediately remove that fear factor.

And lastly, the incredibly stupid EPA and state environmental agencies that stipulate 30 different blends of gasoline. Out of that 30, surely there is one that would suffice for all areas. Requiring 30 different blends adds about $1 a gallon to the cost of gasoline because the refineries have to pretty much shut down, and make changes between each blend. The president, with the stroke of a pen, could specify one blend of the most environmentally friendly gasoline.

So there are things that can be done, in addition to Obama's failed green energy projects, that WOULD.....IMMEDIATELY.....bring down the price of gasoline and keep it down in the 10 year and out future. A side effect of doing these things is that they might keep us from becoming involved in more conflicts in the Middle East.

Techfan
6462
Points
Techfan 03/16/12 - 08:45 am
1
0
"The motto of Forbes magazine

"The motto of Forbes magazine is "The Capitalist Tool." Its editor-in-chief is Steve Forbes." http://www.newsmeat.com/media_political_donations/Steve_Forbes.php

Techfan
6462
Points
Techfan 03/16/12 - 08:51 am
2
0
Brietbart: Fiction for those

Brietbart: Fiction for those who can't tell the difference.

Techfan
6462
Points
Techfan 03/16/12 - 09:01 am
1
0
Cost per gallon of gas: Price

Cost per gallon of gas:
Price of crude oil-68%
Marketing-5%
Profit-6%
Taxes-14%
Add 26% (based on $3.80 per gallon) for different blends=119%
No wonder gas is so expensive.

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