Obama: "Drilling on Public Lands has Not Decreased"

[TheDev]

I'm pretty sure that's false.

 

[Double Trouble]

These guys are both so full of shit it's coming out of their ears...... On the question of oil production on public (federal) lands, it should be a pretty straight forward check on who's lying. Is production on federal lands up or down?

 

[OneOfTheseDays]

 

[TheDev]

Key point: They were talking about public lands, not private.

 

[nehalem256]

So Obama is responsible for oil production from the first day he is in office, but he is not responsible for unemployment from day 1?

 

[DominionSeraph]

So Obama is responsible for oil production from the first day he is in office, but he is not responsible for unemployment from day 1?

Since Republicans are blaming him for a destructive energy policy from day 1, yes, it serves to counter that.

 

[Double Trouble]

Can you explain how the graph addresses production on federal lands? That's what the discussion was about.

 

[DominionSeraph]

Crude oil sales from federal lands

Fiscal year Offshore (million barrels) Onshore Total Percent change from prior year
2003 579 101 680 n/a
2004 572 97 669 -1.6%
2005 542 96 638 -4.6%
2006 471 101 572 -10.3%
2007 514 105 619 +8.2
2008 462 104 566 -8.6%
2009 527 105 632 +11.7%
2010 618 108 726 +14.9%
2011 514 112 626 - 13.8%

 

[TheDev]

Crude oil sales from federal lands

Fiscal year Offshore (million barrels) Onshore Total Percent change from prior year
2003 579 101 680 n/a
2004 572 97 669 -1.6%
2005 542 96 638 -4.6%
2006 471 101 572 -10.3%
2007 514 105 619 +8.2
2008 462 104 566 -8.6%
2009 527 105 632 +11.7%
2010 618 108 726 +14.9%
2011 514 112 626 - 13.8%

ok, so Romney was lying then. It is settled.

 

[Nintendesert]

ok, so Romney was lying then. It is settled.

What did he claim?


That little graph says production is lower this year than last and we're at a level lower than we were in 2005.

 

[monovillage]

I'm pretty sure that's false.

He said drilling, not production. When it's a weasel (such as Obama) talking you need to pay attention to all the weasel words.

 

[IronWing]

I'm pretty sure that's false.

You'd be wrong.

 

[IronWing]

He said drilling, not production. When it's a weasel (such as Obama) talking you need to pay attention to all the weasel words.

Production is entirely up to the lease holders. The leases do not 1) guarantee the leaseholder will find anything nor 2) require the leaseholder to exploit found oil. Leaseholders can sit on their leases hoping the price will go up or that they can sell their leases. The Obama administration proposed rules to penalize leaseholders who failed to show due diligence in utilizing their leases. Congressional Reps screamed bloody murder.

 

[IronWing]

What did he claim?


That little graph says production is lower this year than last and we're at a level lower than we were in 2005.

Follow the columns down. From federal lands (on shore) the volume has risen every year under Obama and is 10% higher than in 2005. Off shore production spiked in 2010 then dropped in 2011 a pattern that is seen throughout the time period shown.

 

[DaveSimmons]

What did he claim?


That little graph says production is lower this year than last and we're at a level lower than we were in 2005.

You should be comparing to Bush's last year, 2008:

2008 462 104 566 -8.6%
2009 527 105 632 +11.7%
2010 618 108 726 +14.9%
2011 514 112 626 - 13.8%

Change since 2008: +60 / +10.6%

 

[HomerJS]

I do know when expanded offshore drilling off the coast of Florida was proposed Gov Bush nixed it.

 

[MagnusTheBrewer]

Let's cut to the chase. Who thinks the amount of oil produced in the U.S. has ANYTHING to do with the price we pay at the pump?

 

[Nintendesert]

You should be comparing to Bush's last year, 2008:

2008 462 104 566 -8.6%
2009 527 105 632 +11.7%
2010 618 108 726 +14.9%
2011 514 112 626 - 13.8%

Change since 2008: +60 / +10.6%

So as soon as Obama came into office we were capable of drilling and expanding production?

I'm not a big expert on oil drilling so not sure how many years in advance the industry needs to get rolling to raise production, unless it's just a purely administrative rule problem and the President can simply give a blessing and they pump more oil.

 

[Schmide]

Regardless - It was his, we had a buch of big oil companies sitting on oil leases comment that made the exchange.

 

[DominionSeraph]

So as soon as Obama came into office we were capable of drilling and expanding production?

I'm not a big expert on oil drilling so not sure how many years in advance the industry needs to get rolling to raise production, unless it's just a purely administrative rule problem and the President can simply give a blessing and they pump more oil.

This isn't a Democratic claim of anything, it's a rebuttal to a Republican lie.

 

[DaveSimmons]

So as soon as Obama came into office we were capable of drilling and expanding production?

I'm not a big expert on oil drilling so not sure how many years in advance the industry needs to get rolling to raise production, unless it's just a purely administrative rule problem and the President can simply give a blessing and they pump more oil.

Obama was pointing out that Romney was lying again, not taking credit for the increase.

 

[Agent11]

The point of allowing them to drill on federal land is to MAKE OIL SO WE ARE ENERGY INDEPENDENT. NOT SIT ON IT AND SPECULATE.

Simple.

 

[glenn1]

Let's cut to the chase. Who thinks the amount of oil produced in the U.S. has ANYTHING to do with the price we pay at the pump?

A lot. Every additional barrel produced impacts the price since that last marginal barrel determines the quantity in the supply/demand equation. Think of it this way; presume you were one of 100 people on a plane ready to crash. If parachutes we're being sold, if there were only 99 of them for sale you'd probably be willing to pay a lot more for the last one since otherwise the 100th passenger would pay and you'd go without. If instead 100 parachutes were available the price would be much lower since you wouldn't be in a scarcity situation.

 

[Bowfinger]

A lot. Every additional barrel produced impacts the price since that last marginal barrel determines the quantity in the supply/demand equation. Think of it this way; presume you were one of 100 people on a plane ready to crash. If parachutes we're being sold, if there were only 99 of them for sale you'd probably be willing to pay a lot more for the last one since otherwise the 100th passenger would pay and you'd go without. If instead 100 parachutes were available the price would be much lower since you wouldn't be in a scarcity situation.

That's the way it's supposed to work in theory. According to a study we discussed here some time ago, however, that's not how it works in practice. There was no material correlation between domestic production and pump prices. I believe the explanation for this disconnect is that refinery-related variables, global speculator actions, and OPEC manipulation play a far, far greater role in prices than U.S. production.

 

[Charles Kozierok]

A lot. Every additional barrel produced impacts the price since that last marginal barrel determines the quantity in the supply/demand equation. Think of it this way; presume you were one of 100 people on a plane ready to crash. If parachutes we're being sold, if there were only 99 of them for sale you'd probably be willing to pay a lot more for the last one since otherwise the 100th passenger would pay and you'd go without. If instead 100 parachutes were available the price would be much lower since you wouldn't be in a scarcity situation.

Boggle. It's scary to think that you actually believe this is a valid comparison.

People don't live or die based on the availability of an extra barrel of oil. Oil is a commodity -- all that matters is overall quantity.

The real problem, from a political perspective, of the call for more drilling is not the idea that more oil would mean lower prices. It would -- but only very slightly lower.

The problem is all the doodoos who think that if we pump more oil in the US that this will magically reduce prices in the US relative to the rest of the world. That's not how it works.