Heritage busts Obama gas price myths

Heritage has decided to take Obama to task and bust the lies he’s told about why gas prices are so high and also what he can do about it:



As Americans across the country gas up their cars for their Memorial Day getaways this year, their wallets will take a bigger-than-usual hit. That’s because gas prices are up $1.06 from last year according to a study by AAA. In fact prices have more than doubled since President Obama took office. And while the media has been slow to demand answers of the President, he has been busy trying to deflect attention away from his incoherent energy policy with a number of gas price-related myths. From overstating the impact of green energy to downplaying the devastating impact of his drilling moratorium, the President should spend less time trying to deflect criticism and more time working to ease pain at the pump.

Comment Policy: Please read our comment policy before making a comment. In short, please be respectful of others and do not engage in personal attacks. Otherwise we will revoke your comment privileges.

15 thoughts on “Heritage busts Obama gas price myths

  1. yes CONCERN TROLLelvis , “SUPLY AND DEMAND”

    and fyi we ALL know “factcheck.org” is a dmc soros funded site. it has as MUCH basis in reality as ” PIGS FLY”, which is true apparently if you are a dumbocRAT.

    dhuuuuu.

    NO drilling says barry and his dumbocRAT buddies.

    posted this BEFORE:

    DRILL BABY DRILL!!!!
    the BIG LIE.
    by Steve McCann (Full article at americanthinker dot com)

    Yet the United States is sitting on the world’s largest untapped oil reserve.  A natural resource that would not only mitigate the over $400 Billion sent overseas to other countries but could create untold millions of jobs and put the country on a sound financial footing.

    The untapped reserves are estimated up to 2.3 Trillion barrels, nearly three times the reserves held by the OPEC countries and sufficient to meet 300 years of demand, at today’s levels — for auto, truck, aircraft, heating and industrial fuel, without importing a single barrel of oil. 

    The US could become the single largest exporter of oil and oil related products in the world, thus potentially eliminating its trade deficit, and increasing the national standard of living as well as making a massive dent in the national debt.  

    Here is a look at some of the largest untapped reserves:

    The Bakken Fields in North and South Dakota.  New drilling and oil recovery technology is making the capture of this oil feasible and some development is now underway.  It is estimated that there is at least 200 Billion barrels of oil in this region.  At a price of $100 per barrel the value of this find is $20 Trillion.

    The Outer Continental shelf.  It is estimated that around 90 billion barrels of oil sit beneath the ocean bed 50 to 100 miles off the shore of the Atlantic, Pacific and Gulf coasts.  The value: $9 Trillion.

    The Alaska National Wildlife Refuge.  About 10 billion barrels are locked up here with a current value of $1 Trillion.

    Tar Sands:  Around 75 Billion barrels of oil could come from these areas which are similar to the Canadian tar sand fields and which now produce about 2 million barrels per day.  The value:  $7.5 Trillion

    Oil Shale.  This is the most massive area of potential oil production in the world with an estimated 1.5 Trillion barrel potential.  The technology necessary to extract this oil is now in place and being operated on a pilot project basis.  The value of this resource:  $150 Trillion

    There also the very real potential that further finds will be discovered as technology continues to improve.

    In total the value of the potential oil reserves of the United States listed above exceeds $187 Trillion.  The current national debt is $14.2 Trillion or less than 8%.

    Despite the protestation of President Obama and the environmentalists the world and particularly the United States is not running out of oil.  Their foolish tilting at windmills and solar will never produce energy sufficient to operate a $14Trillion and hopefully growing economy.  It will be decades if not the rest of the 21st Century before any meaningful substitute for fossil fuels will be developed and additional time and investment will then be necessary to distribute the product.

  2. I love Heritage Foundation. I have there Guide to the Constitution… One of the best book purchases I have ever done. I would sign-up for Ask Heritage if I could, but until then, I will buy their high-quality scholarly books any day ;D.

  3. This may disappoint some of you, but the truth is the president does not control oil prices. Presidents historically get blamed when the price of gas increases and they aren’t necessarily rewarded when it falls. Oil is an international commodity, fungible commodity, traded on international markets.

    Supply and demand, along with market speculation, is what controls prices.

    1. All the president has to do is SAY that he is ceasing the moratorium on the Gulf oil rigs, begin drilling in ANWR, and quit portraying the US as such a victim who can’t do anything for herself w/o the towel-heads’ oil and wah-lah. Our stock would go up & oil prices would magically fall. They need us more than we need them & it’s about time we acted like it!
      (The term “towel-head” is used jokingly from the daughter of a towel-head… ;-))

        1. Uhh, do we really listen to random “wallstreet analysts?” While I’m not an economics genius, I do have some sense of less supply = higher prices. Maybe he’s one of the “experts” who is surprised every week when unemployment goes up and housing prices go down?

          1. You are right. The last time Bush lifted the ban, prices dropped quickly. The President DOES have some control (though indirectly). He’s not helpless.

            1. Bush used our oil reserves during his tenure, which did result in a drop. But now, oil demand is going down thanks to more fuel efficient cars, so there is no need to tap into the reserves. As a matter of fact, our dependence on foreign oil has dropped to below 50% of our supply for the first time in a decade.

              http://www.huffingtonpost.com/2011/05/25/us-oil-dependency-drops-energy-department_n_867131.html

              And I know it’s hard to notice, but gas prices are on the decline this past month. Which isn’t thanks to Obama, since presidents have little to do with gas prices.

              http://gasbuddy.com/gb_retail_price_chart.aspx

              1. I would be very leery of any stats/”facts” posted on HuffPo.com. I do not believe that a few thousand fuel-efficient cars truthfully impacts the overall US consumption of oil. There are many factors at work that drives the cost of oil to go up. One is the de-valuing of the US dollar. It’s simply not worth as much as it used to be. We have the means and ability to significantly reduce our necessity to do business with those who want to kill us en masse. It’s ridiculous to me that we continue to act helpless and dependent as a nation.

  4. If Barry is so concerned about ‘clean energy’…then he could be doing things to encourage converting automobiles to Natural Gas.
    – Tax Credits for vehicle conversions.
    – Tax Credits for creating new CNG stations.
    – Removing burdensome regs on new Gas Wells

    If he were to ask Congress for these things, I doubt that he would get much resistance.

  5. I guess this proves that Obama is in league with BIG OIL companies! That’s what high gas prices meant when Bush was president! These oil companies must be making HUGE profits, right?

  6. Good video.

    In short…OBlahBlah wants us to be even more dependent on his muslim brothers and on Chavez.
    He wants the price to go up.
    Because he wants us broke and on our knees.

    And ‘blaming it on Mideast unrest’ is especially lame since he had a hand in instigating it.

    Even though the corrupt liberal media is giving him a complete pass on this…I hope that enough people will be fed up with him by Nov 2012 to vote against him.

    1. Personally, I suspect it’s because he’s an Ivy League philosopher and not much more. In his Utopia, we have cut out all gas power and use all solar and wind. We have water powered cars, but usually choose to take our solar-powered magnetic train system.

      It’s beautiful!

      It’s also about 200 years from being reality, but he’ll destroy us trying to force it work during his administration, but man is it ever beautiful!

      (Oh, and there is no USA because we are all holding hands across the seas and across all faiths. I need a tissue!)

      1. I dunno, Steprock.
        I hope you’re right.

        But he’ a Marxist.
        And I think that all that ‘green Utopia’ stuff is just an act to appeal to his base.
        If he could get away with nationalizing the Oil & Gas Industry, all that concern for the environment would go out the window.

  7. Don’t tell Bill O’Reilly. He’s got it all figured out. It’s those EVIL oil speculators.

Comments are closed.