Obama Brings Foreign Oil Dependency Down to 45% from 57% in 2008 ----> WOW!

[웃 910]

You won't hear this on Fox News! They don't like facts over there...

U.S. report: Oil imports down, domestic production highest since 2003

Reporting from Washington— Against the backdrop of gasoline prices rising in an election year, a new Obama administration report cites "significant progress" in reducing foreign oil imports and increasing domestic oil and gas production.

The report by six federal agencies was released early Monday on the first anniversary of a speech by President Obama in which he pledged to reduce American dependence on foreign oil imports by one-third in about a decade.

According to the study, the United States reduced net imports of crude oil last year by 10%, or 1 million barrels a day. The U.S. now imports 45% of its petroleum, down from 57% in 2008, and is on track to meet Obama’s long-term goal, the administration maintains.

Imports have fallen, in part, because the United States has increased domestic oil and gas production in recent years.

U.S. crude oil production increased by an estimated 120,000 barrels a day last year over 2010, the report says. Current production, about 5.6 million barrels a day, is the highest since 2003.

The U.S. has been the world’s largest producer of natural gas since 2009, the report says. Use of renewable sources of energy, such as wind and solar, is still relatively small but has doubled since 2008.

The report credits administration policies for the improvements. It cites initiatives such as the higher fuel efficiency of passenger cars, the jump in renewable energy output, and improved weatherization of 1 million homes.

But independent analysts attribute much of the fall in oil imports to slack U.S. demand in a still-anemic economy. And to a certain degree, they say, the boost in domestic oil and gas production is the result of decisions energy companies made during the George W. Bush administration to develop key reservoirs.

The report, titled "The Blueprint for a Secure Energy Future," appears aimed, at least in part, at tamping down political fire from Obama’s Republican rivals and other critics who say his administration has not done enough to fight higher gasoline prices.

"We're experiencing yet another painful reminder of why developing new American energy is so critical to our future," the report states. "We know that there are no quick fixes to this challenge."

Domestic gasoline prices rise and fall with global crude oil prices, which have been driven up by the gradual economic recovery and by market jitters over mounting tensions with Iran, one of the world’s largest oil producers. The closing of several U.S. refineries also has pushed gas prices higher.

Most Americans are convinced that Obama and Congress could do more to reduce gasoline prices, according to a recent Gallup poll.

GOP candidates on the campaign trail and some oil industry leaders have charged that Obama’s energy policies stifle domestic production, and they have urged the administration to open as much public land and offshore areas as possible to drilling.

More domestic drilling will not end the need for imports, however. The United States holds only 2% of the planet’s proven oil reserves, but Americans consume 25% of the world’s daily output of crude oil.

http://www.latimes.com/news/politics/la-pn-report-us-oil-imports-down-domestic-production-highest-since-2003-20120311,0,1926377.story

[Ban Hammer 13,586]

But independent analysts attribute much of the fall in oil imports to slack U.S. demand in a still-anemic economy. And to a certain degree, they say, the boost in domestic oil and gas production is the result of decisions energy companies made during the George W. Bush administration to develop key reservoirs.

[peejay 327]

Obama Brings Foreign Oil Dependency Down to 45% from 57% in 2008????

Obama? HA!!

The thread should be titled: Foreign Oil Dependency Down to 45% from 57% in 2008 in spite of Obama

Anyone that knows anything about the oil business knows these projects are years in the making and were being formulated well before Obama.

Unfortunately the rotten fruit that will be born from Obama's fvcked up energy policies won't hit until well after he is kicked out in the 2012 election.

[Danno 1,228]

And I suppose the higher the unemployment rate goes, the less the demand for fuel.

The fewer the people working the less energy used (boarded up factories use very little fuel.)

And with the miracle of direct deposit, even the growing number on welfare ,need not go pick-up their check.

It's walmart and back.

I guess this is what Obama promised when he spoke of a Green Economy?

[xebec 195]

Actually, I did hear, on Fox News, that Obama is trying to claim this.

[mawilson 2,133]

Well, gee whiz, we've just had the worst recession since the Great Depression - demand is down across the board.

You know what else is down?

Jobs, wages, consumer spending.

[luckytxn 2,265]

Obama. Gonna claim the the Keystone pipeline? The shutting down of all permits for the last two years? You gonna also claim the huge new fields discovered way before you came to office? Granted I will say thanks for not shutting down the new pipelines being built from the new fields. I will also blame you for the 3rd and 4th refinery shutting down in the east and northeast. It is nice that us down here on the Gulf coast being able to sell the fuels they will be using over there but it will make it tighter on our supplies down here and does make the price of fuel higher all over.

[Neonred 3,648]

Damn. That Obama is an F'ing genius!

[spookyturtle 9,466]

Damn. That Obama is an F'ing genius!

Obviously he is. He convinced tens of millions of people to vote for him.

[Gary and Alla 3,694]

Gas was $1.83 per gallon when Obama was sworn in, but I feel better now that you have told me what FOX won't mention.

[웃 910]

Gas was $1.83 per gallon when Obama was sworn in, but I feel better now that you have told me what FOX won't mention.

You should feel much better. If Ron Paul was sworn in in 2009 I don't think there would be any banks left, except the new market of "free" individuals that run banking operations from their garage.

BTW - "Other" defeated "Ron Paul" in a tight race in Wyoming...

Edited March 13, 2012 by ☠

[Gary and Alla 3,694]

You should feel much better. If Ron Paul was sworn in in 2009 I don't think there would be any banks left, except the new market of "free" individuals that run banking operations from their garage.

BTW - "Other" defeated "Ron Paul" in a tight race in Wyoming...

Why would I care about Ron Paul? And why are we discussing "what ifs"?

[웃 910]

Why would I care about Ron Paul? And why are we discussing "what ifs"?

[one...two...tree 2,762]

[Obama 2012 1,714]

baaaaah says the sheep the believes this hogwash.