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Domestic production eyed as gas prices head toward record-breaking height

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posted on Feb, 19 2012 @ 10:19 PM
Gas is going up up up and the White House is announcing some new domestic oil "initiatives"...

Well maybe better late than never, but....we need help NOW not later.

Thanks anyway.

President Obama's re-elect team defended White House energy policy on Sunday as gas prices shoot toward the $4 mark and beyond, a level that could devastate voters' pocketbooks as well as Obama's chances for a second term.

Nationally, gas prices are $3.53 a gallon, up 25 cents since Jan. 1, and likely headed to $4.25 a gallon by late April. Republicans have demanded more oil production at home, as well as building the Keystone XL pipeline across the middle of the U.S. to allow oil from Canada to reach Texas refineries.

Obama rejected the plan, but one of his spokesmen, Robert Gibbs, said the president is looking to increase domestic energy production.

"Just on Friday, the Department of Interior issued permits that will expand our exploration in the Arctic. The president has increased our fuel efficiency and energy efficiency standards so we do use less energy, which will help drive down the price," Gibbs said. "Our domestic oil production is at an eight-year high, and our use of foreign oil is at a 16-year low. So we're making progress."

It's a Gas !

Same politics, same story ...

and we keep paying the price !!

When will it hit $5 ?

posted on Feb, 19 2012 @ 10:25 PM
reply to post by xuenchen

Rather amusing their timing on this
Wouldn't want to look bad in a election year. This one can't be blamed on Bush now
Problem is what good is domestic drilling increases now??? The immediate effect can not be stopped now. Too little too late.

posted on Feb, 19 2012 @ 10:37 PM
I have a really nice dog.

I have a really nice pony.

Want to see pictures of them?

This is politics surrounding oil production. If you have any emotional attachment to the issue it just shows how easily people are manipulated by intentional "news".

posted on Feb, 19 2012 @ 11:37 PM
There is nothing that President Obama can do now that will make any difference for 24 to 36 months

Just getting the permits to do anything will take 4 years or more.

Yes he can make new rules but its just for show with no real effect till he is long out of office. 3 years ago was when he should have done something

posted on Feb, 20 2012 @ 02:53 PM
The link in the op reveals the true problem, but everyone chooses to ignore the hard cold fact. we are running out of easy to get high grade crude.

But John Hofmeister, former CEO of Shell Oil and founder of Citizens for Affordable Energy, told Fox News that oil production today is only 7 million barrels per day when it used to be 10 million per day.

Read more:

What isn't being said, is that those 7 mil barrels are lower grade crude than in the past.

Sure there are large numbers of tiny reserve wells yet untapped, but they aren't going to make up for the end of Saudi oil production.

The OPEC heavyweight saw production decline by 237,000 barrels per day (bpd) from three-decade highs of 10.047 million bpd in November, the JODI data showed on Sunday.

Looks like I started this thread just in time.

posted on Feb, 20 2012 @ 03:03 PM
As usual don't forget everything else goes up as well not just the price per gallon of fuel. This really is going to be a bad year across the board.

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