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Obama Lies about High Gas Prices and Oil Production

Posted by FactReal on February 29, 2012

Heritage corrects Obama’s lies:

Obama lie #1: Oil production is the highest it has been in eight years.
Fact: The increased production of oil and gas in the U.S. is largely a product of increased production on private land. The Administration could have encouraged much bigger gains by providing access to federal land.

Obama lie #2: Increasing oil production takes too long and would not impact the market for at least a decade.
Fact: The sooner we make investments in domestic energy, the sooner those benefits will be realized. And with some serious reforms, some of this oil can reach the market in much less than a decade.

Obama lie #3: Oil is not enough. America has only 2 percent of the world’s oil reserves.
Fact: President Obama frequently uses this number to push federal investments in alternative sources of energy that cannot stand the test of the market. The reality is that he uses this number deceptively.

Obama lie #4: Oil is not enough. The country needs an “all-of-the-above” approach to reduce its dependence on oil.
Fact: While a familiar refrain from the President, it is a line that too often translates into wasteful subsidies for pet energy projects. A market-based strategy is the only all-of-the-above approach.

Obama lie #5: Speculators are driving up the price of gas, and they need to be reined in.
Fact: While the President tries to blame the market, he ignores the power of supply and demand. By removing roadblocks to domestic energy production, the President can ensure that there is a healthy supply of American energy on the market, keeping prices competitive.

More details here.

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