Obama 2012 : 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 – NYTimes.com

ScreenHunter_5793 Jan. 05 11.23

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21 Responses to Obama 2012 : Drilling Won’t Lower Gas Prices

  1. Bob Greene says:

    He was correct. Drilling won’t decrease the price. Developing the well you’ve just drilled and taking oil from the reservoir has more effect on prices.

  2. gator69 says:

    Communists really just don’t get supply and demand.

  3. Pathway says:

    It’s not that our liberal friends don’t know anything, it’s just that everything they know is wrong.

    • Gail Combs says:

      The UK Engineer on the Green Energy Is Dead thread sure did prove that!

      He is completely clueless when it comes to cheap energy and light regulations driving an economy. He was actually advocating the 50 people dig holes and 50 people fill them in economic model!!!

  4. philjourdan says:

    He was talking about cavities in your teeth,

  5. Informed economy arguments are only important to the part of the electorate that is capable of understanding informed economy arguments. While this comes close to a tautology it is also one of the most important realities of the political process.

    The productive and informed parts of the electorate have been shrinking in relation to the share of the unproductive and/or ignorant voting segments. Mr. Obama understands this and he’s been vindicated by the last two presidential elections.

    • Gail Combs says:

      Unfortunately you are correct.

      25 years ago I took a small business course in Taxachusetts. The instructor had to spend at least an hour trying to get the ‘sweet young things’ to understand that profit was not a dirty word and without a profit you starve and the business goes under.- – – And these were people who wanted to start a small business!

  6. Ri-chard says:

    What will really lower Oil, Gas and Coal prices is disclosure of energy patents since the days of Tesla and the sharing of existing energy technologies used by DOD, CIA, NSA, NASA and NRO.
    We must demand this from our elected representatives. First buy letting them know we know of this.

    • Robertv says:

      The climate in 2100 will not be a priority issue for the people trying to survive the economic collapse of 2015.
      Maybe they like cake !

  7. Don says:

    Obama was talking about traditional wells/drilling, which he was in the process of wrecking, at least on federal lands, the Gulf of Mexico, etc. He and his handlers were notably unaware of the fracking revolution, the revolution that takes place almost wholly on state or private lands.

  8. nielszoo says:

    He’s kinda right in a twisted sort of way. It wasn’t just drilling, it was drilling, frakking, tar sands and a freaked out OPEC trying to bury the “drill here, drill now” crowd by cutting their oil prices and taking a loss to try and keep their controlling monopoly.

    • rah says:

      They’re going to do everything to try and hold onto control of the world oil market but it just ain’t gonna work. They can hurt some of the new wells but not enough of them to get the oil price up to $100.00 per barrel where the need it to be. Fact is that every OPEC nation plus Russia are over a barrel now and they better get out the KY Jelly because they’re are going to be taking it up the Kiester for some time to come.

    • Daavid A says:

      They are not so much as taking a loss, as not making the funds they need to finance their statist system. (Look at it like this, if the US needed to make revenue from oil sales to balance their budget, oil would need to be far above $100 P.B.)

      • Saudi Arabia has tens of thousands of worthless, non-working “princes” who need to get paid or they’ll start thinking about Kalishnikovs. Hard to sustain that with oil under $50/bbl. indeed.

  9. Dave G says:

    I’m loving this, the price of fuel oil is DOWN $1.50 a gallon from last year in upstate NY

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