Thursday, September 05, 2013

White House praises oil drilling while blocking it on federal land

Skyrocketing domestic oil production is really starting to pay off, as oil exports caused government economists to revise economic growth in the second quarter upward by 1.7 percent to 2.5 percent growth. The Obama administration hailed the news, attributing it to the administration’s policies. However, the oil boom has been occurring on private and state lands while oil production on federal lands has been falling. “This is yet another reminder that the President’s focus on increasing America’s energy independence is not just a critical national security strategy, it is also part of an economic plan to create jobs, expand growth and cut the trade deficit,” the blog post ads. While production booms on non-federal lands and boosts U.S. exports, production on federal lands is lagging. In fact, all of the increased oil production from 2009 to 2012 took place on non-federal lands, according to the Congressional Research Service, while the share of oil production on federal lands fell by seven percent. Oil production on federal lands was down 31 percent from 2011 levels, while production on state and private lands increased by 15 percent, reports the Energy Information Administration...more

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