healthmyths
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- Sep 19, 2011
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Does that mean the clowns that blamed Obama for high gas prices before can't blame him again now?
You obviously are very ignorant about "supply and demand" right?
The ONLY way any President has a DIRECT affect is in increasing or decreasing Federal land oil production.
Here are the FACTS as to what Obama HAS to DECREASE Federal land Oil production.
This from the Federal government...
According to EIA, in fiscal year 2011, production on federal lands dropped
13 percent from fiscal year 2010 levels, led by a drop in federal offshore production of 17 percent.[ii]
The majority of oil production on federal lands (around 80 percent) is located in offshore waters.
And the vast majority of federal offshore oil production (generally over 95 percent) is from the 55 percent of the Gulf of Mexico where leasing has been allowed. Thus, an analysis of oil production from the Federal Gulf of Mexico should be a good indicator of where our increased oil production is coming from—federal lands or private and state lands.
According to EIA, federal offshore production peaked in fiscal year 2010 with a total of 618 million barrels produced.
In that year, about 580 million barrels of oil were produced in the federal waters of the Gulf of Mexico.
But due mainly to the moratorium placed on offshore drilling by the Obama Administration,
oil production in the federal waters of the Gulf of Mexico fell by 77 million barrels in fiscal year 2011 (13 percent). EIA is projecting it to fall again in fiscal year 2012 by another 35 million barrels (7 percent).
(Note that these production volumes come from EIA’s Short-Term Energy Outlook and are a combination of data and projections for fiscal year 2012.)
EIA expects fiscal year 2013 production from the federal waters in the Gulf of Mexico to begin to increase (by 6 percent), but not reach the oil production levels of either fiscal year 2010, when it peaked, nor fiscal year 2011, which had a half year of high production before the Macondo accident occurred and the moratorium on drilling was put in place.
Comparing the loss in federal oil production to production in the oil producing states, we find the decrease expected in oil production from the federal waters of the Gulf of Mexico between fiscal years 2010 and 2012 of 112 million barrels is about equal to the oil produced in the state of North Dakota in 2010 (113 million barrels) and it is 50 percent higher than the oil produced in the state of Oklahoma in 2011 (74 million barrels).
U.S. Oil Production Up But On Whose Lands - IER