Tags: Energy | oil | gas | Obama | Bush | Issa

Rep. Issa: Obama Benefits from Bush’s Energy Policy

By Dan Weil   |  

When Barack Obama ran for president in 2008, he framed much of his candidacy as a referendum against then-President George W. Bush. But Rep. Darrell Issa, R-Calif., points out that Obama should be grateful for the former president’s energy policies, Politico reports.

“Bush opened up areas to drilling, and drillers became much more efficient. They almost never hit a dry hole. They get more extracted from existing wells than ever before, and the president is benefiting from that,” Issa said on the “Fox & Friends” show.

“So it’s very, very clear. Yes, he’s enjoying the benefits of his predecessor, not a 20-year-ago predecessor [but] a three-year-ago predecessor.”

Yet thanks to Obama, our energy supplies will soon be endangered, Issa said, according to Politico. “With lower amounts of permits, areas being closed. What’s going to happen is, whether he wins second term or not, that’s going to begin to dry up as that three- to seven-year cycle starts to go the wrong way.”

The way it works is that the permit process for drilling takes a few months to years, he said. Then, “you’re only talking about three years to have full production, about seven years of useful life.”


© 2015 Newsmax. All rights reserved.

1Like our page
2Share
198
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved