February 24, 2012

IBD: ‘Five Biggest Whoppers in Obama’s Energy Speech’ (and a Sixth Which Is Not Energy-Related)

I’ve got a sixth, but it doesn’t (directly) relate to energy, which I’ll save for the end of the post.

Here are the five super-sized whoppers Investor’s Business Daily identified (enumeration and bolds added by me):

1. “We’re focused on production.”

Fact: … Obama has chosen almost always to limit production. He canceled leases on federal lands in Utah, suspended them in Montana, delayed them in Colorado and Utah, and canceled lease sales off the Virginia coast.

His administration also has been slow-walking permits in the Gulf of Mexico …

2. “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: … (the statistic is) bogus. New exploration and drilling technologies have uncovered vast amounts of recoverable oil. …

3. “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.

4. “We need to double-down on a clean energy industry that’s never been more promising.”

Fact: Renewable energy simply won’t play an important role in the country’s energy picture anytime soon, accounting for just 13% of U.S. energy production by 2035, according to the EIA.

“There are no short-term silver bullets when it comes to gas prices.”

Fact: Obama could drive down oil prices right now simply by announcing a more aggressive effort to boost domestic supplies. When President Bush lifted a moratorium in 2008, oil prices immediately fell $9 a barrel.

The non-energy whopper I heard on the radio yesterday, confirmed in my visit to the White House transcript of the speech, is as follows:

Now, some politicians they see this as a political opportunity. I know you’re shocked by that. (Laughter.) Last week, the lead story in one newspaper said, “Gasoline prices are on the rise and Republicans are licking their chops.” (Laughter.) That’s a quote. That was the lead. “Licking their chops.” Only in politics do people root for bad news, do they greet bad news so enthusiastically. You pay more; they’re licking their chops.

This is offensive on several levels:

  • A guy who is supposed to be president of the entire country quotes a media mischaracterization of opponents’ positions for political gain in what is supposed to be a policy-related presentation. He has no shame, and exercises no rhetorical restraint. Ever.
  • Obama’s party and the media continually and consisted rooted for the economy to go downhill during the entire Bush administration and downplayed its performance, which in retrospect and compared to the past three years looks mighty good.
  • What a freaking ingrate. If the GOP were really “licking their chops” over the bad economy, the party’s governors wouldn’t be trying so hard and to an extent succeeding in bringing their states back from the brink fiscally and economically. As shown here, the top six states in percentage workforce growth in 2011 were Republican right-to-work states. Their weighted-average workforce growth of 2.30% far exceeded that of the rest of the nation (1.04%). Job growth in these and other key GOP-governed states is a key reason why the economy, which only grew by an annualized 0.4% and 1.3% during the first two quarters of last year, didn’t slide back into recession during 2011′s first half. If Republicans were really rooting for a bad economy, the governors of the six states involved, plus other GOP overachievers like Ohio’s John Kasich, Florida’s Rick Scott, Arizona’s Jan Brewer, and others would have tried to kill progress in their states instead of fostering it. Meanwhile, pathetic laggards like Obama’s home state of Illinois (December unemployment rate: 9.8%; jobs added in from March-December 2011: 8,000) are holding us back.

The guy who is working on making this country fail by starving it of energy and causing prices to skyrocket (I fear that we haven’t seen anything yet) is in the White House, and his First Helpers are the Senate’s Majority Leaders and the House’s Minority Leader.

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2 Comments

  1. The chart Tom, the chart!!!

    A Timeline of Obama’s Failed Energy Policy Courtesy of Speaker Boehner

    http://www.usnews.com/news/blogs/washington-whispers/2012/02/24/a-timeline-of-obamas-failed-energy-policy-courtesy-of-speaker-bohener

    Comment by dscott — February 24, 2012 @ 5:17 pm

  2. [...] IBD: ‘Five Biggest Whoppers in Obama’s Energy Speech’ (and a Sixth Which Is Not Energy-Related… [...]

    Pingback by IBD: ‘Five Biggest Whoppers in Obama’s Energy Speech’ (and a Sixth Which Is Not Energy-Related) | PERSUASION IN INK — February 25, 2012 @ 8:08 am

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