Wednesday, March 21, 2012

Is President Obama Misleading The Public On America's Untapped Oil Resources

President Obama at a solar energy facility in Nevada on Wednesday. Republicans criticized the trip as a political stunt. Doug Mills/The New York Times

Energy Industry Accuses Obama Of Misleading Public About Extent Of Untapped Oil Resources -- FOX News

In almost every energy speech, President Obama makes this statement: "We've got 2 percent of the world oil reserves. We use 20 percent."

But there's more to those numbers than meet the eye.

"It's accurate but extremely misleading," says Dan Kish of Institute for Energy Research, which is supported by the industry. "What he is talking about is oil we already have found."

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My Comment: President Obama .... since the beginning of his Presidency has been very blunt on his support for alternative energies. Unfortunately .... after spending billions and having very little to show for it .... he should not double down on it nor should he underestimate and underpromote what America's energy sector can accomplish.

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