Exposing Obama's 2% Myth

Obama's 'Faith-Based Energy Policy'

From Victor Davis Hanson:

A president, so Obama claims, has little control over gas prices. New domestic supplies of oil would not come on the market for years. Americans consume a quarter of the world’s oil supplies while possessing only 2 percent of global reserves. In a global oil market, additional American drilling would not make that much of a price difference.
But all of these claims are either flat wrong or misleading. Presidents can affect gas prices, at least in the long term, by exercising budgetary discipline resulting in a currency that buys more oil per dollar, by approving or rejecting federal oil leases, and by adding or curbing regulations that affect oil exploration and development. In all of these cases, Obama has supported policies that contribute to higher gas prices.
The point about the lag time between finding and pumping oil is valid. But that reality is precisely why presidents must green-light exploration for future generations — and why Obama is now bragging of record U.S. production only because of his predecessor’s granting of federal oil leases. Obama’s “it takes too long” argument is absurd — as if farmers should never plant new orchards since they won’t see fruit on their trees for three years or more.
Obama’s knowledge of U.S. reserves is 20 years out of date. In the first three years of his administration alone, new finds offshore, in Alaska, in the Gulf of Mexico, and in unexpected places such as North Dakota, Pennsylvania, New York, and Ohio have revolutionized America’s energy future in ways undreamed of just a few years ago. We probably have 100 years of natural-gas supplies at present rates of consumption and could cut our imported oil by 50 percent in a few years.
Even Obama does not believe his own dismissals of the role of global supply and demand in setting energy prices. In a tight world oil market, just a few million more barrels a day produced anywhere — or even the indication that a major producer like America might soon put 2 million or 3 million more barrels a day on the market — can help to stabilize prices. That’s why Obama is considering tapping oil from the Strategic Petroleum Reserve while asking the Saudis to pump a little more. Does the president believe that more foreign or previously pumped oil would lower world prices in a way newly pumped domestic oil would not?
Technologies such as fracking and horizontal drilling have made it possible for Americans to produce their own oil and gas as never before. We can pump oil with less environmental damage than can Venezuela, Mexico, and Nigeria. New domestic production would save a near-bankrupt America billions of dollars currently being lost in import costs while cutting security expenses in deploying forces to the Middle East.
New oil development will create thousands of jobs, worry speculators that America will soon release lots of oil on the world market, and provide a window to produce alternative energies without slapdash, Solyndra-like boondoggles. Drilling is a win, win, and win choice — and so known to everyone except the president and his shrinking number of reactionary advisers, who prefer green faith to hard science.

I like the fact that Victor Davis Hanson includes our plummeting dollar into the equation of rising gas prices.Most only refer to more drilling as a way to ease our pain at the pump,while ignoring the fact that a strong dollar would effect the price of crude oil on the market,since it is bought and sold in U.S. dollars.The only cannidate anywhere,who is talking about strengthing our dollar,is Ron Paul.

'Presidential Embarressment About Gas'

From Victor Davis Hanson:

It is sad to see the president of the United States not telling the truth about the current gas crisis, as he barnstorms the country ridiculing those who wish to develop more domestic gas and oil.

Yes, we are pumping more oil since January 2009, but only due to prior public leases granted before he took office and new ones on private lands that came despite rather than because of his policies. Unlike Barack Obama, someone who must remain unmentioned decided that it was wise for America to lease federal lands for oil exploration that would come on line in some cases after he left office. Likewise, U.S. demand had slacked off during Obama’s tenure not due to any administration policy, unless prolonging the recession to curb demand was intended.
And to the degree that Obama has had a role in oil production, his has mostly been negative, in denying more new federal leases than did any other recent president. Yet for all the rhetoric about flat-earthers who believe in strange things like supply and demand, Obama himself knows that increasing oil supply does matter. Why? Because he is pondering again tapping the strategic oil reserve, while Democratic senators keep reminding us that the U.S. is begging the Saudis to increase their own production. So why would increased oil from a reserve or from Saudi Arabia matter in a way that increased domestic production heretofore has not?
And the president knows that just in his first three years, there has been a revolutionary change in the known oil and gas supplies of the United States. Fracking and horizontal drilling have completely altered the potential supply-and-demand dynamic in America — a development not only unappreciated by his administration, but also apparently unwelcomed as well. Would that Obama had talked as much about the potential of fracking as he has Solyndra.
Finally the president has not been candid enough to admit that his administration’s own policy heretofore has been to encourage subsidized wind and solar energy at great expense with little to show for it, while expressing a desire for fossil fuels to increase in price. On two occasions Energy Secretary Chu has acknowledged his own wish for higher gas prices, or at least not a worry that they are rising. Interior Secretary Salazar has expressed a similar lack of worry over increased gas prices. And of course the president himself during the past campaign had talked of skyrocketing energy prices as a good thing, while later worrying mostly over the abrupt rate in the rise of gas prices, rather than the fact of high prices themselves.

What Obama and his corporate cronies don't understand -maybe they do but don't care as long as they get paid- is the fact that who ever can provide or obtain an abundant supply of energy sources at an affordable cost will dominate the 21st century.Right now China understands this and we are well behind them in the race for energy superiority.

Speaking Of The Blind

From The Washington Post:

The Obama administration will announce this afternoon it is rejecting a Canadian firm’s application for a permit to build and operate a massive oil pipeline across the U.S.-Canada border, according to sources who have been briefed on the matter.
However the administration will allow TransCanada to reapply after it develops an alternate route through the sensitive habitat of Nebraska’s Sandhills. Deputy Secretary of State William J. Burns will make the announcement, which comes in response to a congressionally-mandated deadline of Feb. 21 for action on the proposed Keystone pipeline.

As we seek to curtail Iran's oil exports,Obama curtails ours and Canada's.At least he is consistent,"stupid is,as stupid does."

Doug Powers @ Michelle Malkin made this comment:

At this point, the “alternate route” for the Keystone project’s oil appears to lead to China.

Just Can't See The Big Picture

U.S. Presses South Korea To Reduce Oil Imports From Iran:

Washington is trying to curtail Iran’s oil exports, its main revenue source, and isolate the central bank. Delegations from the State, Energy and Treasury Departments are fanning out to Iran’s major customers, as well as to rival oil producers, to enlist their help in stifling Iran’s oil exports while making up any gap in supplies.
South Korea, a crucial American ally, voiced support for Washington’s efforts to check Iran’s nuclear program. Seoul depends on the United States for its defense against North Korea and works together with Washington to curb the North’s nuclear weapons program. American officials believe that a successful crackdown on Iran’s nuclear program could help curb North Korea’s.
But leaders of South Korea, which depends on imported oil, fear a sudden reduction in purchases from Iran might disrupt South Korea’s energy security and raise oil prices. Fighting inflation is President Lee Myung-bak’s key policy promise for 2012.
Seoul has yet to announce whether and by how much it might reduce its oil imports from Iran.

Our leadership in Washington is blind.They cannot see the big picture.As we seek to "curtail Iran's oil exports,"we should be increasing our own oil production and exports to supplant theirs and over take it.It would not only put a crimp in Iran's own source of revenue,but would give a much needed boost to our own economy.But,alas we can't see the forest for the carriboo.