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February 24, 2012

Back In 2008 When Gas Prices Were $3.50 a gallon

Topics: Political News and commentaries

In yesterday's big speech in Miami on gas prices and energy policy, Obama admitted that he doesn't have a "silver bullet" solution for skyrocketing gas prices, but he did propose another one of his Solyndra-like, pie-in-the-sky, taxpayer-funded, alternative energy sources -- this time "a plant-like substance, algae" as a way of cutting dependence on oil by ... '17 percent.' (Hat tip - Ed Morrissey)

Back in 2008 when gas prices were $3.50 a gallon, Obama railed against oil company profits and blamed George Bush and John McCain for increased fuel costs, and promised an end to reliance on foreign oil in order to bring prices back down.

We'll skip over his bold-faced lie in the ad about not taking money from Washington lobbyists ... and we'll also skip over the other bold faced lie about not taking money from the oil companies (Obama received $884,000 from the oil and gas industry during the 2008 campaign).

The key point here is that when he was running against McCain in 2008, the high gas prices were Bush's fault ... now that he's under fire over the high prices it's not his fault, there's no silver bullet, but he's got a new silver bullet to sell you, anyway - this time it's 'algae.' Meanwhile, as Obama gives us half-truths, misdirections, myths, and outright whoppers, gasoline prices are headed toward $5.00 a gallon.

Here's five whoppers from Obama's latest speech discovered by Investors Business Daily:

Energy: The White House billed President Obama's energy policy speech as a response to mounting criticism of record high gas prices. What he delivered was a grab bag of excuses and outright falsehoods.

Obama's main message to struggling motorists was: It's not my fault, so stop whining. The speech only got worse from there, recycling excuses and myths that Obama's peddled for years. But there were some standout whoppers that deserve debunking. The five biggest:

"We're focused on production."

Fact: While production is up under Obama, this has nothing to do with his policies, but is the result of permits and private industry efforts that began long before Obama occupied the White House.

"The U.S. consumes more than a fifth of the world's oil. But we only have 2% of the world's oil reserves."

Fact: Obama constantly refers to this statistic to buttress his claim that "we can't drill our way to lower gas prices." The argument goes that since the U.S. supply is limited, it won't ever make a difference to world prices.

It's bogus. New exploration and drilling technologies have uncovered vast amounts of recoverable oil.

In fact, the U.S. has a mind-boggling 1.4 trillion barrels of oil, enough to "fuel the present needs in the U.S. for around 250 years," according to the Institute for Energy Research. The problem is the government has put most of this supply off limits.

"Because of the investments we've made, the use of clean, renewable energy in this country has nearly doubled."

Fact: Production of renewable energy -- biomass, wind, solar and the like -- climbed just 12% between 2008 and 2011, according to the federal Energy Information Administration.

More here.

CNS News has more on the particulars of oil production under Obama, including the decline of production on the federal lands that the Obama administration does control.

Andrew Kaczynski has a plethora of Obama 2008 Ads Focused On Gas Prices, throwing Obama own words right back in his face..

Related: High Gas Prices: Obama's Half-Truths vs. Reality
Cutting Through The BS In Obama's Energy Speech Today

Posted by Hyscience at February 24, 2012 11:23 AM

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