Oil Lies

The  administration still takes credit for the amount of domestic oil we happen to be now drilling. But this is oil we had planned for in the previous administration. The truth is, the present administration has been holding back approvals for new drilling.

And to add to this misinformation,  the administration claims there are already sufficient oil leases extant and approved on which to drill. A very amateurish statement indeed.

Simply, not all oil-lease acreage can be drilled. Studies by the oil companies are made on them and they remain idle for the probable reason that they are not productive nor economically feasible.

The truth of our energy policy is that the U.S, has enormous sources of petroleum for at least the next century, maybe longer.  Right now, Economic sources of wind and solar power, preferred by the green environmentalists, are decades away.

We need more economic reality and less political chatter.  (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)