Tags: obama | oil | production | gas

WSJ: Obama an Obstacle to Increased Oil Output

Wednesday, 13 Mar 2013 12:48 PM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
President Barack Obama stands in the way of boosting oil production, even as he tries to take credit for it, according to a Wall Street Journal editorial.

“President Obama does a neat John D. Rockefeller imitation these days, taking credit for soaring domestic oil and gas production as if he planned it that way,” Journal editors write. “Not quite.”

A new Congressional Research Service report states, “All of the increase from FY2007 [fiscal year] to FY2012 took place on non-federal lands, and the federal share of total U.S. crude oil production fell by about 7 percentage points.”

Output totaled 6.2 million barrels a day in 2012, up 22 percent from 5.1 million in 2007, boosted by hydraulic fracturing and horizontal drilling on private and state lands, according to the report.

“The sharp drop in production on federal lands is the direct result of Obama administration policies,” the editorial states. That includes a drilling moratorium imposed after the 2010 Deepwater Horizon spill, a drilling permit limit, and Obama’s prevention of exploration and production on significant areas of the Outer Continental Shelf.

“The U.S. oil and gas boom has been a rare bright spot in the otherwise gloomy Obama economy,” Journal editors write. “Imagine how much more energy the U.S. could produce, and how many more high-paid jobs it could create, if the Obama Administration stopped being an obstacle.”

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Rasmussen Poll: Labor Day End of Summer for Most Americans

Monday, 01 Sep 2014 13:52 PM

The majority of Americans say that Labor Day signifies the unofficial end of summer, not the day to recognize the contri . . .

Obama Promotes Surging Economy as Midterm Elections Near

Monday, 01 Sep 2014 13:46 PM

Boosted by recent economic gains, President Barack Obama is sounding more bullish about the nation's recovery from the G . . .

Sen. Mike Lee Pleads: Abolish Common Core

Monday, 01 Sep 2014 12:52 PM

Utah Sen. Mike Lee called on Americans to join him in the effort to abolish the federal Common Core education standards  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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