Gas prices shot up 18 cents on average nationwide over the past two weeks, according to the latest Lundberg survey. That puts the average cost of regular gas at $3.69 a gallon, with many paying more than $4 dollars for gas.
President Obama, members of his administration, Democrats in Congress, and his allies on the left, all try to make the same case: We can't "drill our way" out of this problem. They commonly state that while we use 25% of the world's oil, we only have 2% of the world's oil reserves. They claim simple arithmetic shows we can't sustain current consumption levels.
The Obama Administration isn't being truthful with the numbers.
In order for us to have 2% of the world's oil reserves, we would have to count only our "Proven" oil reserves.
The U.S. has around 20 billion barrels in proven reserves, but the amount of undiscovered, so called "technically recoverable" oil, is over seven times that. These figure do not come from a partisan source. They are the government's own numbers.
In fact, the U.S. has nearly 1.5 trillion barrels of oil. That's enough to fuel the present needs in the U.S. for around 250 years, according to the Institute for Energy Research.
The Former President of Shell Oil was quoted as saying the following:
"The best source for new oil is the world's largest consumer economy: this country. We could go back to 10 million barrels if we had the permitting that would enable it to happen. We have the oil. There is more oil in this country that we're not allowed to get at than oil we're allowed to get at.”
The truth is that President Obama has an energy agenda that is extremely unpopular with the American people.
Steven Chu, Obama's Energy Secretary, was actually unwise enough to state this policy in public. (He has been trying to walk it back since.)
“Somehow we have to figure out how to boost the price of gasoline to the levels in Europe.”
He meant that in the context of forcing an alternative energy agenda on an unwilling population, namely America, by making gas so expensive people will be forced to try something else.
Do you think President Obama is being honest about these things?