On Saturday, President Barack Obama claimed that under his administration, oil production in America was “at an eight-year high,” that the number of operating oil rigs had quadrupled, and that millions of acres had been opened for drilling, which were assertions that did not present all the facts, said energy experts.
While Obama’s comments were technically accurate, he was leaving out vital information that gives a fuller picture of the situation, according to the Institute for Energy Research (IER). “Of course, he’s right — to a point,” the DC-based energy group told CNSNews.com in an e-mail.
“In classic fashion, he’s using a technicality to skirt the facts and keep the myth of energy scarcity alive,” the IER email said. “The reality is that the U.S. has enough recoverable oil for the next 200 years, despite only having 2 percent of the world’s current proven oil reserves.” (Emphasis added.)