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| "You oil executives see my tie? That is an indication of the future of energy in this country. Deal with it!" |
Advocates for the U.S. energy industry routinely say they wish President Obama would pursue pro-growth energy policies. Well, he has been, and not just for the likes of fallen green giants like Solyndra. Under Obama, the traditional U.S. energy sector is flourishing. The domestic energy sector is experiencing its largest growth since the halcyon days of the 1950s and 1960s. As importantly, we're growing in the right directions.
For the first time in decades, we are seeing sustained increases in U.S. oil production and decreases in oil consumption, which means imports are dropping.
U.S. domestic oil production is up an incredible 14 percent since Obama took office. A few years ago we imported nearly two-thirds of our petroleum products. Today we import less than half. The reduction in imports means tens of billions of dollars now stay in our own economy.
But it's not just oil: dry natural gas production is up 16 percent, natural gas liquids are up 26 percent, solar generation is up 14 percent and wind generation is up 59 percent. Even production of coal - supposedly the main target of Obama's policies - is flat over that same time period. There are even headlines blaring that U.S. refining capacity is at the highest point in decades, exceeding levels achieved under recent Republican administrations. All of this growth produces royalties and taxes to address our budget challenges.
Despite the numbers, many in the energy industry describe Obama as if he's intent on making us freeze in the dark. They'd have us believe Obama and his team are singlehandedly killing the American energy industry.
The facts tell a different story: This is a pro-energy president.
And that my friends is the difference between having a comprehensive energy policy, and just coming up with bumper sticker slogans like "Drill Baby, Drill."
By the way if anybody is standing near Sarah Palin when she reads this I will pay serious money for a picture of the look on her face at this news.
Though in my minds eye, it will look something like this:
Let's face it this is YET another area where the Republicans simply have no ammunition to use against the President. I swear if this jobs crisis turns around before the election, all the Republican candidate will be able to do is point at his face and say "Yeah, but at least I'M white!"
