Better Policies That Help America Begin Lowering Energy Costs, Prices at the Pump
Statement
Everywhere I go Americans are feeling the pinch of high gas prices. In response, President Obama has begun to claim he supports Republicans' "all of the above" approach to energy. Although the words sound inclusive, a glance at the record suggests the President really means "none of the below," at least not on federal lands when it comes to production of fossil fuels.
President Obama's Administration recently confirmed that total production of oil, natural gas and coal on federal land dropped by 7 percent since the President took office.
From 2010 to 2011, total federal oil and natural gas production is down 14 percent and 11 percent, respectively.
On average the Bush and Clinton Administrations leased more than three million acres for oil and gas development per year. The Obama administration has leased less than two million acres per year.
Under the Obama Administration, 2010 had the LOWEST number of onshore leases issued since 1984.
In the U.S., our demand is down 6% year over year, and prices are still skyrocketing because of global demand and supply. But that doesn't mean we cannot influence prices. The Washington Post (3/13/2012 p. 5) recently argued that global oil prices have been driven up by a decline in global supply relative to demand of "about a million barrels of oil a day." That's a lot of oil. But let's keep it in perspective. It's less oil than the Keystone XL pipeline President Obama blocked could carry each day to US refineries.
In February, the House of Representatives passed H.R. 3408, with a bipartisan vote of 237-187. H.R. 3408 expands offshore energy production, opens less than three percent of ANWR to oil and natural gas production, encourages the development of 1.5 trillion barrels of oil shale in the Rocky Mountain West, and approves the Keystone XL pipeline. This is one of many energy-related proposals that have passed the House with bipartisan support and been denied consideration by the Senate and President.
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