Obama to call for cut of oil imports by a third
President Obama will lay out a broad energy plan Wednesday aimed at cutting the country’s foreign oil imports by one-third over the next decade.
The plan comes amid increasing pressure to address high gas prices and concern about the country’s reliance on Middle Eastern and North African oil, particularly given the political unrest in the region.
Obama’s speech will mark a “transition in public communications” from foreign policy issues like Libya to energy security, according to a senior White House official.
“You will see a concerted focus on energy from us over the next period,” the official said.
We ALL know that Barack Hussein Obama is NOT the sharpest knife in the drawer, but c’mon, we’ve covered this extensively. Obama isn’t just stupid, he doesn’t pay attention.
We have oil, coal and natural gas. We have the largest supplies of oil, coal and natural gas of any nation on earth.
Did Obama miss this part? Did he not listen to Sarah Palin at all? “DRILL BABY DRILL!” was, as far as I am concerned, the best thing that she ever said.
And you have got to wonder, does Obama not read and pay attention to news and financial reports?
Senators James Inhofe of Oklahoma, Ranking Member of the Environment and Public Works Committee and Lisa Murkowski of Alaska, Ranking Member of the Environment and Natural Resources Committee, will release a report Thursday from the Congressional Research Service (CRS) showing that the United States’ combined recoverable natural gas, oil and coal endowment is the largest on Earth.
Russia comes in as a close second with recoverable fossil fuel reserves, followed Saudi Arabia, China, Iran and Canada.
According to the new report, an updated version of a 2009 paper, the United States’ resources are larger than Saudi Arabia, China and Canada, combined. The report estimates that the U.S. has 163 billion barrels of recoverable oil and enough natural gas to meet the country’s demand for 90 years.
The CRS report is being made public at a time when oil and gas prices are skyrocketing and the Department of Interior is embroiled in a battle with oil companies over offshore drilling. Last week, Interior Secretary Ken Salazar and Michael Bromwich, Director of the Bureau of Ocean Energy Management, Regulation and Enforcement, appealed a court decision that ordered them to act on five pending drilling permits.
As said previously, Barack Hussein Obama is NOT the sharpest knife in the drawer, but even a hard-headed old blogger like me knows this: the economy of the United States of America would be SAVED if we used our own oil. It’s that simple.
I have read estimations that report that we have one oil formation that is so rich the barrels of oil that WE could recover from it will cost Americans just $16 PER BARREL! Have you Ever heard of the Bakken Oil Formation?
1. Ever heard of the Bakken Formation?
The U. S. Geological Service issued a report in April (’08) that only scientists and oilmen/women knew was coming, but man was it big. It was a revised report (hadn’t been updated since ’95) on how much oil was in this area of the western 2/3 of North Dakota; western South Dakota; and extreme eastern Montana … check THIS out:
The Bakken is the largest domestic oil discovery since Alaska’s Prudhoe Bay, and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if just 10% of the oil is recoverable… at $107 a barrel, we’re looking at a resource base worth more than $5.3 trillion.
‘When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea.’ says Terry Johnson, the Montana Legislature’s financial analyst.
‘This sizable find is now the highest-producing onshore oil field found in the past 56 years,’ reports The Pittsburgh Post Gazette. It’s a formation known as the Williston Basin , but is more commonly referred to as the ‘Bakken.’ And it stretches from Northern Montana, through North Dakota and into Canada . For years, U. S. oil exploration has been considered a dead end. Even the ‘Big Oil’ companies gave up searching for major oil wells decades ago. However, a recent technological breakthrough has opened up the Bakken’s massive reserves… and we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!
That’s enough crude to fully fuel the American economy for 41 years straight.
2. [And if THAT didn't throw you on the floor, then this next one should - because it's from TWO YEARS AGO, people!]
U. S. Oil Discovery- Largest Reserve in the World! Stansberry Report Online – 4 /20/2006 Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction.
They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth. Here are the official estimates:
-8-times as much oil as Saudi Arabia
-18-times as much oil as Iraq
-21-times as much oil as Kuwait
-22-times as much oil as Iran
-500-times as much oil as Yemen – and it’s all right here in the Western United States.
HOW can this BE!? HOW can we NOT BE extracting this!? Because the democrats and leftwing republicans have blocked all efforts to help America become independent of foreign oil.
Why then, does the United States IGNORE the Bakken? Why are we being held hostage by OPEC and the enemies of the United States? Why are we making Arab Sheiks wealthy beyond all comprehension? Especially in light of this:
A new drilling technique is opening up vast fields of previously out-of-reach oil in the western United States, helping reverse a two-decade decline in domestic production of crude.
Companies are investing billions of dollars to get at oil deposits scattered across North Dakota, Colorado, Texas and California. By 2015, oil executives and analysts say, the new fields could yield as much as 2 million barrels of oil a day — more than the entire Gulf of Mexico produces now.
This new drilling is expected to raise U.S. production by at least 20 percent over the next five years. And within 10 years, it could help reduce oil imports by more than half, advancing a goal that has long eluded policymakers.
“That’s a significant contribution to energy security,” says Ed Morse, head of commodities research at Credit Suisse.
Full Story Here:
New drilling method opens vast oil fields in US
I will tell you exactly why, because our President is a MORON.
Barack Hussein Obama wants to lay out a plan that will cut oil imports by a third…a THIRD! Pay attention you liberal, One World asshat, we can cut American oil imports by 100%, if you have the *stones* to stand up to your UNION supporters and *GREEN* friends.
The development of U.S. oil resources, the building of new storage and refining facilities and the distribution of our own oil and gasoline to the American people, when coupled with the estimated cost per barrel being somewhere in the neighborhood of $16 dollars a barrel…well, even a child could see where this goes.
American financial freedom and wealth, IN America, that will put us back in the position of being the leader of the free world.
This story, my friends, illustrates exactly why Barack Hussein Obama will NEVER allow it to happen, it’s GOOD for America!