“We’re drilling all over this country.  I guess there are a few spots where we’re not drilling.  We’re not drilling in the National Mall.  We’re not drilling at your house.”  – President Obama, March 15, 2012

Reality:  The president has done nothing to increase domestic exploration, and there are a lot of “spots” where we aren’t producing energy (the Gulf of Mexico, Alaska, or the outer continental shelf).  

•  Oil Production on Federal Land is Down:  According the director of the Bureau of Land Management (BLM), oil production on U.S. federal property is down 14 percent and offshore production from federal areas is down 17 percent from only a year ago.  In addition, the Congressional Research Service (CRS) issued a report revealing that 96 percent of the increase in domestic oil production since 2007 has occurred on non-federal lands.  The report also showed that in 2011 production on federal public lands has declined by an average of 275,000 barrels per day.  Furthermore, on land managed by the BLM, there are 38 million acres under lease for oil and gas development—down from 47 million available in 2008 and the president’s policies have kept 94 percent of federal onshore areas off limits to energy production.

• Oil Production in the Outer Continental Shelf is Down:  There has not been any drilling in the Atlantic Ocean, Pacific Ocean, or the Eastern Gulf of Mexico, accounting for an estimated 19 billion barrels of oil and 78 trillion cubic feet of natural gas going untouched.  The president’s policies have kept 98 percent of federal offshore areas off limits to energy production.  To make a bad situation worse, the Obama administration has released a draft offshore drilling five-year lease plan that will close the majority of the Outer Continental Shelf to new energy production through 2017.  The president’s moratorium and de facto moratorium has reduced planned capital and operating investments by $18.3 billion and cost the Gulf more than 162,000 jobs in just the past two years.

• Obama Administration Permitting Process Preventing Jobs:  An example of further economic stagnation caused by the Obama administration are the 20 projects in Utah and Wyoming that are being held up by the National Environmental Policy Act process, preventing the creation of 120,905 jobs, $27.5 billion in economic activity, and $139 million in government revenue.  The Obama administration also continues to delay and impede shale oil production that would put Americans back to work and help the U.S. break its dependence on unstable foreign sources of energy.

Rhetoric:  “Now, does anybody think that ExxonMobil needs some extra money, when they're making money every time you go to the pump? Why wouldn't we want to eliminate that?”  – President Obama, October 3, 2012. 

Reality:  Because the president cannot stand on his record, he has regrettably turned to the politics of envy and division.  U.S. oil and natural gas companies receive the same tax treatment that is available to a broad swath of other U.S. manufacturers.  The House Republican budget called for the removal of all tax loopholes and subsidies, making the tax code simpler, flatter, and fairer.

Rhetoric:  “But I also believe that we've got to look at the energy sources of the future, like wind and solar and biofuels, and make those investments.”  – President Obama, October 3, 2012

Reality:  According to the White House, the Energy Department has put $90 billion worth of “government investment,” “tax incentives,” grants, loan guarantees and loans into a “clean energy economy of the future.”  Regardless of this influx of support, the production of renewable energy – including biomass, wind, and solar – has increased only 13.8 percent in 2011.  Meanwhile, gas prices have increased by 102 percent under President Obama.  Sadly, the President's "green portfolio" has been littered with failure and taxpayers are paying the price for such high profile bankruptcies as Solyndra, Beacon Power, Abound Solar, and Ener-1 and numerous other recipients are also nearing bankruptcy.

For questions or further information contact Sarah Makin