Filed under: Capitalism, Economy, Election 2012, Energy, News the Media Doesn't Want You to Hear, Progressivism | Tags: Ogallala Aquifer, Real Energy Inventory, The Keystone XL Pipeline
Gas prices here in the Seattle area are over $4.00 a gallon, but we have high taxes as well — 55¢ a gallon. Taxes are even higher in New York and Connecticut. Remember back in 2008 when Obama was on the campaign trail. “If everybody in America inflated their tires to the proper level,” he said, “we would actually save more oil than we’d get from drilling.” uh huh.
— Only 3 percent of federal lands are currently leased for oil production.
— In North America alone there is enough oil to fuel every passenger car in the United States for 430 years.
— The Obama administration’s permitorium in the Gulf has resulted in 57 percent fewer deepwater permits, a 68 percent reduction in shallow-water permits, and a 50 percent reduction in plans that gain approval in the year-to-date.
— The U.S. is the third largest oil-producing nation in the world, behind only Saudi Arabia and Russia. Our total recoverable resources are more than six times the proved reserves of Saudi Arabia.
— In fiscal year 2011, oil production on federal lands decreased by 11 percent, while oil production on private and state lands increased by 14 percent.
Obama keeps repeating the canard that while we use over 20 percent of the world’s oil resources, we only produce 2 percent of the world’s oil. And though he showed up in Cushing, Oklahoma to have his picture taken with some oil pipes, he did not “approve” the lower part of the Keystone XL pipeline. His approval was neither needed or wanted.
Obama says that it was essential to refuse to approve the Keystone XL from Canada, because the Republicans wouldn’t give him enough time to make sure that it was safe for the American people, and to protect the great Ogallala aquifer in Nebraska. The Keystone XL had been approved by every applicable governmental agency. There are all sorts of pipelines running through the aquifer already, quite safely. Trans Canada was quite willing to move the pipeline route.
He’s on the campaign trail again. If he wanted the Keystone XL pipeline and the jobs that it promises, he would move heaven and earth to make it happen. Note all the silly solar energy arrays that he flies all over the country to promote. Ignore what he says. Watch what he does.
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American Elephants 
One could say that even for Israel, which has oil shale. You are mixing oranges and kumquats: total recoverable resources do not have “economically recoverable” as a defining variable. Proven reserves should be compared with other proven reserves, and ultimately recoverable resources with ultimately recoverable resources, but not proven reserves with ultimately recoverable resources.
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Comment by Subsidy Eye March 26, 2012 @ 8:01 am