Tuesday - January 13, 2015

wrong, baby, wrong

Back when gas topped $4 a gallon, Republicans chanted “drill, baby, drill” at rallies across the country—arguing more domestic drilling would increase supplies, reduce dependence on foreign oil and boost the U.S. economy.

Democrats, almost universally, mocked the GOP plan. In 2012, President Obama called it “a slogan, a gimmick, and a bumper sticker ... not a strategy.”

“They were waving their three-point plans for $2-a-gallon gas,” Obama told a laughing audience during an energy speech in Washington. “You remember that? Drill, baby, drill. We were going through all that. And none of it was really going to do anything to solve the problem.”

“‘Drill, baby, drill’ won’t lower gas prices today or tomorrow,” Rep. Janice Hahn, D-Calif., echoed on the floor of Congress in 2012. “But it will fuel our addiction to fossil fuel.”

Today, Democrats are singing a different tune, as increased domestic drilling has led to a record supply of domestic crude, put some $100 billion into the pockets of U.S. consumers and sent world oil prices tumbling.

The price of a gallon of regular gasoline on Monday was $2.13 nationwide, and below $2 in 18 states.

“Of course [Obama] was wrong. We’ve seen oil prices fall internationally now by half since last June,” said American Enterprise Institute economist Ben Zycher. “The U.S. is now the biggest oil and gas producer in the world, or almost that, and the effect has been to drive prices down as we’ve seen.”

Most of the domestic increase is due to “fracking” for tight oil in shale deposits across the U.S., as well as advances in directional drilling, where numerous pipelines diverge from a single platform in numerous directions, for a large cost savings.

But the gains, according to oil experts, come off private, not federal, lands.

Oil production on federal lands—those under the president’s control—fell 6 percent since 2009, according to the federal Energy Information Administration, while production on private lands increased 61 percent.

Democrats. Wrong on foreign policy. Wrong on domestic policy. Wrong on big government. Wrong on taxation. Wrong on damn near everything. As usual.

Oh, and BTW ... gas prices are dropping like a rock in the UK too. Petrol has hit 99P ... which is something like a buck fifty PER LITER, which works out to $5.70 US dollars per American gallon. And they think that’s cheap.

A new petrol price war erupted yesterday on the back of falling oil prices and the first 99p per litre forecourt in Britain for more than five years.

Asda sparked a 2p per litre price cut as the three other ‘Big Four’ supermarkets - Morrisons, Sainsbury’s and Tesco – swiftly followed suit.

Price cuts will ‘ripple’ through the nation’s forecourts by putting pressure on other retailers to match them or lose business.

But it also led to calls for the Chancellor to cut fuel tax which now accounts for more than 70p in every pound spent at the pumps – the highest proportion for six years.

Obviously too many Democrats and other thud-brained leftists over there as well.

Posted by Drew458     on 01/13/2015 at 10:10 AM   
Filed Under: • Democrats-Liberals-Moonbat Leftists • Obama, The One • Oil, Alternative Energy, and Gas Prices •  
• Comments (3) • Trackbacks(0)  Permalink •  

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