Filed under: Capitalism, Economy, Energy, Humor, Liberalism, Politics | Tags: Obama'a Sales Pitch, The Car Salesman
Having trouble with higher gas prices? Just trade in your old gas guzzler that only gets 8 miles to the gallon for a new Volt? And the old favorite Big Lie: We only have 2% of the world’s oil and we use 25% of the world’s oil. The U.S is often depicted as having only a tiny part of the world’s oil reserves at around 28 billion barrels (based on the misleading figure of “proven reserves”). In reality, according to the Congressional Research Service, we actually have around 135 billion barrels, or 83% recoverable oil.
He claims that drilling more would not affect the price of gas—but if all permits for the Gulf were issued so the rigs could go back to work, it would have an effect. The price of gas at the pump is partially based on future expectations. Yet at the same time the president suggests that regulating the industry to demand that they increase the fuel-efficiency of cars and trucks would have a prompt result at the pump, yet it takes several years before the cars and trucks on the road all have a higher mpg rating. People are driving their vehicles longer before trading them in, partly due to the recession as well as higher prices for cars because of new mpg requirements.
The Headline comes from James Taranto of the Wall Street Journal, and was just too perfect not to repeat.
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