U.S. Oil Production at 12 Year High; Yet The GOP Blames Obama

Source: NY Times

It’s amazing how much the Republican party lies; they lie blatantly without remorse, and yet so many Americans seem not interested in finding out FACTS.  Your ability to discern fact from fiction MATTERS.  Every time a politician says that all of the problems with gas prices will go down if only we would drill more oil…is lying to you.  It’s insulting because they think so little of you, and I hate that so many people seem to wear their ignorance like their favorite scarf.  Drilling oil increases production but it doesn’t solve the problem; and the Department of the Interior has released a report saying “out of a total of over 38 million leased onshore acres, almost 22 million leased onshore acres that are not being used. “

“Drill, Baby, Drill” is a lie.  

I understand that “the common folk” like catchy bumper sticker slogans etc, but nuance is really so much sexier.  The nuance is…oil production is up, foreign oil dependency is down, fuel standards are up but gas prices are still going up for a variety of reasons including beating the war drum with Iran, Wall Street speculators and an overall increasing global demand.  We’ve written a lot about this…but you can get a really good feel for the politics of oil HERE.

Krugman goes there:

Giving the oil companies carte blanche isn’t a serious jobs program. Put it this way: Employment in oil and gas extraction has risen more than 50 percent since the middle of the last decade, but that amounts to only 70,000 jobs, around one-twentieth of 1 percent of total U.S. employment. So the idea that drill, baby, drill can cure our jobs deficit is basically a joke.

Why, then, are Republicans pretending otherwise? Part of the answer is that the party is rewarding its benefactors: the oil and gas industry doesn’t create many jobs, but it does spend a lot of money on lobbying and campaign contributions. The rest of the answer is simply the fact that conservatives have no other job-creation ideas to offer.

And intellectual bankruptcy, I’m sorry to say, is a problem that no amount of drilling and fracking can solve.

One other crucial thought process for you…if oil is a global commodity and the cost of oil is rising in the U.S. mirrors the highs and lows of other countries – what does that have specifically to do with gas prices?  Think that through.  It’s a drop in the barrel.

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