The Republican Party seems to think Americans are stupid and will not dig into the “facts” that they spew. This is especially the case with oil drilling, exploration and so called energy independence.
The Republicans have told the American people that we need to drill for more oil, build refineries and build pipelines all in the name of energy independence. Yet as CNBC pointed out in December of 2011, the United States is EXPORTING more refined fuel, gasoline, than it imports for the first time in 50 years.
“For all refined petroleum products, the U.S. in the first 10 months of 2011 exported 848 million barrels and imported 750 million. Lipow said he believes this if the first time since World War II that the U.S. will be a net exporter of refined petroleum products, but government data on the EIA website only goes back to 1973.”
So, why are gas prices increasing across this country? Why are we still at about $3.30 a gallon when we are exporting more now than we did under Reagan, Bush, Clinton or Bush Jr.? We were told by the Republicans that drilling a refining will decrease the cost of oil and bring us to energy independence.
I have reported before, that oil is sold on the global market. This includes oil drilled and extracted here in the United States. Every drop of oil is sold on the Chicago Mercantile Exchange, so if we increase oil production in this country, the ONLY people that benefit are the sellers of the oil. Rather than selling 1 million barrels a day, they end up selling 1.5 million barrels a day. It doesn’t decrease the cost of oil or gas.
In the CNBC report it stated, that the U.S. exported 1.07 million barrels a day of distillates, which includes diesel fuel, double the 557,000 barrels two years ago and up from last year’s 870,000 barrels.
Once again, under the so called oppressive Obama regulations, production has increased, just like under ObamaCare hiring increased dramatically in the healthcare industry. The lies and misinformation on the right rely on American ignorance.
The ONLY real solution to reduce our dependence on foreign oil is to increase energy efficiency, like the light bulb law, and green technology. Increasing oil production only increases the wealth of oil barons and speculators. While we are at it, all oil produced in America should be only for the American economy. Once all oil needs are met at home, then we should export our excess.
Image: Mario Piperni