Lately, President Obama has been out on the stump lamenting our nation's lack of sufficient oil reserves to meet our energy needs.
He claims that the United States has just 2 percent of the global oil reserves while it consumes more than 20 percent of the world's oil supplies. At worst, this assertion amounts to a blatant lie and at the very least, it is intentionally misleading.
What he does not want the American public to know is that this country is awash in oil, possessing more than one-third of the world's technically recoverable oil reserves, thanks to recent developments in drilling procedures.
So why spin the fantastic fairy tale that it would be useless to drill for more oil because this country does not have enough oil reserves to impact gasoline prices? There is only one answer: If Mr. Obama told the American public the truth about our country's vast oil reserves, Americans would more likely demand increased drilling and undermine the president's dream for an America driven almost entirely by "renewable" energy (wind, solar, etc.). The president envisions a country in which all Americans are driving electric cars using electricity generated by burning that miracle fuel, algae.
So while he pays lip service to drilling for oil, he is actually opposed to it and hopes to drive up oil and gas prices in an effort to make subsidized renewable energy sources more cost-competitive. Thus, when Mr. Obama says he favors drilling for oil, don't believe him. It is what they call a "snow job."
HARRISON E. MCCANDLISH
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