Obama Speech On High Gas Prices Contained Five Major Whoppers About Energy - Investors.com
From just plain facts about available oil, through ridiculously wrong growth in alternative energy (itself a paltry sliver of total US energy production and use), through to being wrong about the inability to manage and moderate fuel prices -- Obama's just flailing wildly in a sea of falsehoods.
It's interesting to me that the only item rated as "pretty much true" is oil production increasing -- an interesting side effect of oil costing so much more. If it costs more, the owners can make a higher-cost effort at extraction. So the net result is more oil, because you're paying more for it, so it's cost-effective to extract.
Great. So we can increase domestic production with $5 gasoline. Feel cheery over that fact?
From just plain facts about available oil, through ridiculously wrong growth in alternative energy (itself a paltry sliver of total US energy production and use), through to being wrong about the inability to manage and moderate fuel prices -- Obama's just flailing wildly in a sea of falsehoods.
It's interesting to me that the only item rated as "pretty much true" is oil production increasing -- an interesting side effect of oil costing so much more. If it costs more, the owners can make a higher-cost effort at extraction. So the net result is more oil, because you're paying more for it, so it's cost-effective to extract.
Great. So we can increase domestic production with $5 gasoline. Feel cheery over that fact?
