Three Years Since Obama Said Drilling Won’t Lower Gas Prices

February 23, 2012

Anybody who tells you we can drill our way out of this problem doesn’t know what they’re talking about, or just isn’t telling you the truth,” he said to whoops from the crowd of nearly 1,500.

Mr. Obama’s remarks, tinged with humor and sarcasm, were bluntly political, on a trip that included fund-raising events in Miami and Orlando. But his message was sober: neither he nor anyone else can do much about oil prices, which he said were likely to keep rising.

In Nod to Rising Gas Prices, Obama Discusses Energy Policy –

ScreenHunter_1358 Mar. 28 10.51

Historical Gas Price Charts –

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29 Responses to Three Years Since Obama Said Drilling Won’t Lower Gas Prices

  1. gator69 says:

    Well, at least he fixed the economy, healthcare, the IRS, and stopped the seas from rising.

    And I hear his golf game is much improved.

  2. Joseph says:

    What Obama said here was a huge talking point amongst progressives at the time – drilling won’t reduce oil prices. Another example of progressives’ complete misunderstanding of economics, the free market, and competition.

  3. stpaulchuck says:

    I have to believe he knows better but must keep up the socialist oligarchy propaganda line. His goal was to drive up the price of energy to economy crushing levels. He nearly succeeded. His attack dogs at EPA and other agencies are still working hard to destroy this economy.

    • gator69 says:

      It is a failure to modernize thought, the left still thinks we are hunter gatherers, and a zero sum tribe…

    • Menicholas says:

      That plan would only have worked if there was indeed a dwindling amount of oil to be discovered.
      Since there is, in fact, lots and lots of easily recoverable oil and gas, and ever more the higher the price is, all raising prices did was spur exploration for new supplies. For several years now the price has been propped up, for various reasons such as speculation and hedging etc, beyond what was reasonable given the excess supply, which kept this exploration at very high levels even as production exceeded demand. Another factor has been the anomalously low price of storage methods, when compared to historical averages for such. There are so many extra oil tankers in the world that for a long time now people have been renting tankers in order to take delivery of oil contracts, in the belief that prices would keep rising. This is a leftover effect of the huge spike in prices during the housing bubble, when shipping became so outrageously expensive that massive numbers of new ships were ordered and eventually built…which caused an inevitable crash in shipping costs which persisted even after oil prices and the housing markets slowly recovered.
      The meme that drilling would do little to help goes back all the way to the 2007-2008 election cycle, when the drill baby drill mantra was originated. I recall vividly at that time being assured by every liberal in the country that there was not enough oil in the US to make even a slight dent in supply or price.

      On top of all this, keep in mind that the entirety of the increase in production has been on private land and onshore prospects. If we had also been doing the same amount of exploration and increases in production on government owned lands and offshore…well…

  4. gator69 says:

    Even these people get it. You don’t need to be highly educated to know that competition brings out the best products (and prices), and therefore raises the living standards of everyone…

    The full documentary “The Ultimate Resource” (well worth the time, and simply undeniable) can be found here…

    Serious about helping the poorest? This is how.

  5. gator69 says:

    And let us not forget about ‘Earth Hour’ tonight (8:30-9:30 local time)…

    I will have every light and appliance running to celebrate this awesome planet! Heck, I may even do donuts in the corn field across the road!

    Viva la industriel revolucion!

    • NancyG says:

      Oh, me too. I want to turn on as many lights as I can without hubby getting annoyed. He likes the man cave feel.

      On an unrealted note, my daughter sent me this link of an eagle cam in Hanover, PA. I love it, had it on all day. The female is in the nest sitting on 2 chicks, the male brings food.

      • NancyG says:

        D’oh. Unrelated.

      • gator69 says:

        Man Caves are such an urban basement thing. I have a roadhouse (still under construction), it is not easy to get to, but a worthy destination all the same. I have decked it out with vintage Breweriana, a professional Tornado foosball table, inset large screen TV and kick-ass stereo for my hundreds of hours of live concerts. It sits on a ridgetop with seven large windows giving better than a 180 degree view of two counties, and they will see me tonight!

        • gregole says:

          Gator – a thing of beauty! I just knew you were a foosball guy!

        • gator69 says:

          My best friend was a professionally ranked foosball player 20 or so years ago, and I kept trying to get him to sell me his table after he married, and when I started building my roadhouse. In our prime were unstoppable as long as he played front and I tended goal. In fact, we beat the husband and wife who were respectively the men’s and women’s champs of the day, two out of three games, just not in tournament play. I was never professionally ranked.

          Then I ran across a Tornado table for sale about two hours south of me, and talked the seller down to a very reasonable price. When my friend and I arrived to disassemble the table and load it up, we learned from the owner’s parents that he had been the third highest ranked player in the world, and was killed in a motorcycle accident. This was his practice table for professional tournaments, and he kept it updated with the latest advancements so it would be just like the tournament tables. On the way home I jokingly said to my buddy we could have saved a trip had he just sold me his old table, and he said without hesitation he would gladly trade with me.

          I had the deceased owner’s mother write his name down so I would never forget where it came from, and that paper is still inside the table along with an old sock he used to wipe down the rods after applying silicone. I just wanted his parents to know how much I appreciated their son’s table, that it was going to a good home, and that he would not be forgotten.

          I have the coolest roadhouse in the county, IMHO.

      • SxyxS says:

        Dat male Eagle is obviously a right wing mysogenist

    • Menicholas says:

      I am going to run my dishwasher only half loaded.
      Then run a hot bath and change my mind, do a few very small loads of laundry, and fir up the grill to cook one burger.
      Wooooo hoooo!
      /sarc off

  6. gator69 says:

    I never knew Google was a bank…

    It’s 2020. The New England Patriots, winners of six straight Super Bowls, are having yet another routine meeting with the Commissioner’s Office.

    Deputy NFL Commissioner Tom Brady and his chief of staff, Rob Gronkowski, OK a rule change that forgives the Patriots for illegally taping other teams and deflating football over the preceding years. Meanwhile, members of the Patriots continue to happily contribute funding for the commissioner’s new 45-room castle in Turks and Caicos, and Bill Belichick agrees to continue coaching the commissioner’s 12-year-old son in Pop Warner football.

    Would that bother anyone? Because the above is pretty much going on today, only the team is called Google and the commissioner is the president of the United States.

    Sure, since we’re talking about politics, the giving and taking of favors works in a slightly more indirect way. But only slightly. As Michael Kinsley used to say, the scandal about corruption in Washington is not the stuff that’s illegal but the stuff that’s legal.

    A former Google officer is the president’s chief technology adviser. Google employees contributed more to President Obama’s re-election than did employees of any other company except Microsoft. Google lobbyists met with Obama White House officials 230 times. By comparison, lobbyists from rival Comcast have been admitted to the inner sanctum a mere 20 or so times in the same period.

    Oh, and on Election Night 2012, guess where Google executive chairman Eric Schmidt was? Working for the president. In the president’s campaign office. On a voter-turnout system designed to help the president get re-elected.

  7. gregole says:

    So far I’m doing pretty good on Earth Hour – bar-b-qued steaks already, and am turning on everything electric I own. I only regret I don’t own more!

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