Green Room

Shocker. Domestic Oil Production Down. Foreign Imports Up.

posted at 1:41 pm on March 10, 2011 by

Fortunately for all of us, the wise energy policies of the Obama administration have us well on the way to a sustainable, secure energy future for our nation. After all, who could argue with a policy where we seek to import less oil from abroad, stifle the domestic production of such resources and do nothing to replace the shortfall?

With that in mind, surely nobody would expect a result like this.

Domestic Oil Production
Foreign Oil Imports

The lack of effective leadership on this vital issue has drawn the ire of a group of conservative leaders who recently provided a summary of just what we can expect in the future if nothing happens. Brace yourselves, as I’m sure none of you could have called this one.

Issue-in-Brief: Continued instability in the Middle East, combined with unprecedented foreign demand for oil and an uncertain economic recovery at home, has left the United States at the mercy of foreign dictators and markets – issues that would be alleviated if the Administration lifted its self-imposed energy freeze and let domestic producers get back to work, particularly in the Gulf. There is an obvious lack of leadership from the Obama Administration.

Demand for Oil is Skyrocketing

  • Since President Obama assumed office gas prices have risen 87%! (From $1.83 to $3.43 and even higher in some states!)

  • Global demand for oil is rising, and the competition for foreign resources has intensified. By 2035, the United States, Japan, OECD Europe, China, and India are projected to need 25 percent more imported oil than in 2005, with China and India accounting for the major portion of that increase.
  • Instead of reaping the economic and social benefits of developing our domestic resources, the Gulf of Mexico (GOM), even despite the recent permit granted by the Department of Interior (DOI), remains closed for business. According to the Energy Information Agency, domestic offshore oil production will fall 13 percent in 2011, a loss of about 220,000 barrels/day, mainly due to the continued lack of permits for the GOM.

Shocking. That’s the only word for it. Who could have imagined that we would have to import more oil from unstable foreign sources if we don’t allow domestic producers to drill for it here? With this in mind, I would like to officially nominate the Obama administration for the Hot Air Capt. Louis Renault Award.

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Comments

The administration just said it is at it’s highest points since 2003…Who is right and who is wrong here?

tomas on March 10, 2011 at 4:33 PM

Redistribution of wealth. Brazil and Venezuela and all the non-Middle East producers of oil have been “oppressed” by all our wealth, so to make reparations to them, he is increasing the flow of dollars to them by increasing how much oil we buy from them.

He doesn’t have to pass any legislation, make any speeches or anything. Just stop our own production with media complicity in hiding the damage it’s doing and by default his foreign “victims of US supremacy” get reparations.

PastorJon on March 10, 2011 at 5:42 PM

The administration just said it is at it’s highest points since 2003…Who is right and who is wrong here?

tomas on March 10, 2011 at 4:33 PM

It would depend on how you look at it. Go direct to the source (eia.gov) and you can see there is a Gulf Crude production history with those numbers (comparison to 2003). Just download the excel files. That is being revised, however, as pointed out in the update also on that site. The charts above aren’t reflective of national production rates though which are substantially higher nor does it take into account ethanol production in the US which makes up a larger share of total production than it has in the past. Maturing fields in Alaska are a big part of the reduced production of US crude. I’d encourage you to go look at the data and trends yourself since it is so easy to get to.

lexhamfox on March 10, 2011 at 9:15 PM

This post has been promoted to HotAir.com.

Comments have been closed on this post but the discussion continues here.

Ed Morrissey on March 11, 2011 at 2:20 PM

I have been saying for months, Obama is here to put the seal on the Socialist movement in the United States. No oil, no coal, no Nuclear, no natural gas. Horse and buggy but you have to have a hose and capture tank for the methane from the horses when they fart. Obama is here to destroy the United States, he says we have to cut spending and borrows more money in February than any other month in the history of the United States. He submits a budget for the rest of the year with 1.5 Trillion increase in the National Debt. Come on people, even Republicans can not believe that this man is that stupid, he is doing this stuff on purpose to destroy the Fiscal condition of the Country. He is acting toward the rest of the World the way he is to destroy our Reputation and carrying us strait to bankruptcy. Obama IS the Enemy within. The Democrats in Congress and the Senate, most of them are Patriotic and love the Nation so they should join with the Republicans and Impeach Obama NOW. Before it is to late and we are ruined and having riots in the streets. From Chaos comes no good.

old war horse on March 12, 2011 at 7:23 PM