President Obama and his minions, who refused to believe that increasing U.S. oil production would drive the price of gas into the ground, are now eating oily crow.
Remember when President Obama mocked the call to “drill, baby, drill” as nothing more than “a slogan, a gimmick, and a bumper sticker … not a strategy.”
Well, as his friend and pastor, Jeremiah Wright, would say, “Obama’s petroleum drilling chickens have come home to roost.”
As Fox News reports:
Today, Democrats are singing a different tune, as increased domestic drilling has led to a record supply of domestic crude, put some $100 billion into the pockets of U.S. consumers and sent world oil prices tumbling.
The price of a gallon of regular gasoline on Monday was $2.13 nationwide, and below $2 in 18 states.
Most of the domestic increase is due to “fracking” for tight oil in shale deposits across the U.S., as well as advances in directional drilling, where numerous pipelines diverge from a single platform in numerous directions, for a large cost savings.
But the gains, according to oil experts, come off private, not federal, lands.
Can you imagine how much lower the price of oil would drop if Obama would allow oil drilling on federal land?
Now Obama, as always, is trying to take credit for the drop in gas, which is saving Americans tens of millions of dollars.
Fox points out that President Obama declared in Detroit last week, “America is the number one producer of oil, number one producer of gas. It’s helping to save drivers $1.10 a gallon at the pump over this time last year.”
Meanwhile, oil production on federal lands — those under the President’s control — fell six percent since 2009, according to the federal Energy Information Administration, while production on private lands increased 61 percent.