March 26, 2012

One Minute Speeches Representative Glenn 'GT' Thompson March 26, 2012 Mr. Speaker, everywhere I go Americans are feeling the pinch of high gas prices. In response, the president has begun to claim he supports Republicans' "all of the above" energy policy. Although the words sound inclusive, a glance at the record suggests President Obama really means "none of the below." The policy is none of the below on federal lands. On average the Bush and Clinton administrations leased more than three million acres for oil and gas development per year. The Obama administration has leased less than two million acres per year. On federal land oil and gas production is down in the last year. There are now fewer offshore production facilities in Federal waters than there have been for more than 50 years. Do the president's policies matter for gas prices? The Washington Post (3/13/2012 p. 5) argues that global oil prices are being driven up by a decline in global supply relative to demand of "about a million barrels of oil a day." That's a lot of oil. But let's keep it in perspective. It's less oil than the Keystone XL pipeline President Obama blocked could carry each day to US refineries.