Tags: obama | oil | production | gas

WSJ: Obama an Obstacle to Increased Oil Output

Wednesday, 13 Mar 2013 12:48 PM

By Newsmax Wires

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.”

© 2015 Newsmax. All rights reserved.

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:
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

Rap Mogul Suge Knight Investigated in Deadly Hit-and-Run

Friday, 30 Jan 2015 06:41 AM

Death Row Records founder Marion Suge Knight turned himself into authorities early Friday after his attorney said the  . . .

'Ebola Czar' Ron Klain Will Leave Job Feb. 15

Thursday, 29 Jan 2015 22:32 PM

The Obama administration's "Ebola czar" will leave his post on Feb. 15, although he said there is still work to do at er . . .

Texas Executes Killer Who Claimed Mental Impairment

Thursday, 29 Jan 2015 21:41 PM

The state of Texas on Thursday executed a convicted rapist-killer whose lawyers argued was severely mentally impaired, h . . .

Most Commented

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