Conservatives, if -as you claim- Obama has placed a moratorium on domestic drilling, then where is all of the?

extra oil coming from?

http://www.eia.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/current/pdf/highlights.pdf

Now compare the figures under Refinery Inputs and Net Imports…if -as FOX News likes to keep claiming- the Obama administration has placed a moratorium on domestic drilling, then where did the extra 548,000 barrels of oil come from?

Also note the amount of oil in the SPR has not changed. The 30 million barrels were never actually released, the Obama Administration made those available to market but priced them above the market value so they would serve as a hedge against price increases without actually draining the SPR. Those barrels of oil are sitting there so that if prices go above 2 per barrel then they will be released to market and keep us from ending up in the 0 to 0 per barrel price range like we had with Prime Minister Cheney.

So, where did that extra 548 thousand barrels come from if Obama placed a moratorium?
Could it be that Republicans lied again? ! ? !
Conservative – you’re dead wrong. The "Emergency Reserves" you’re referring to is the SPR, which -as you’ll see in this report- has not changed. Those 30 million barrels haven’t been released to the market yet. They were announced to the market, but not released to market – big difference.
RJC – are you trying to give me more of that "Reality has a liberal bias" stuff? All I’m doing are citing facts and figures from the EIA Weekly Petroleum Status Report – the same document that Wall Street investment managers read religiously every Wednesday.

7 Responses to “Conservatives, if -as you claim- Obama has placed a moratorium on domestic drilling, then where is all of the?”

  1. ndmagicman Says:

    Lives in a state, North Dakota, currently going through a major oil boom. There are no bans on domestic oil exploration or production. In fact US oil production is currently at a 12 year high.

  2. Conservative Patriot Says:

    He took it from the emergency oil reserves.

  3. NOpublican's in 2012 Says:

    And where are the drilling supplies and workers there is a shortage of both. And Why did I work every day last year except Christmas day ?

  4. almaciga Says:

    There is more drilling now than ever before. But it all goes to the market to be sold to the highest bidder. That is called "free markets", only rich CEOs and share holders benefit from it. We just get the shaft.

  5. RJC Says:

    The moratorium has been lifted but the EPA is not issueing any new drill permits.
    You must be listening to news that is 6 months old.
    The added barrels are coming from oil wells.
    Things are more easily understood if you can view them without political bias.
    Hope this helps.

  6. Socrates Says:

    It was a moratorium on DEEPWATER drilling.

  7. J M Says:

    Prior to the gulf disaster, the Obama administration approved 217 new well permits (shallow and deepwater).

    The deep water permits were held up after the BP spill until the cause could be identified. There have been six deepwater well permits issued since the gulf moratorium was lifted. There is currently NO moratorium on drilling.

    The small amount from the enegy reserve was released in response to the upheaval in the middle east.

    These facts are a matter of public record and can easily be checked. Why is it that when lie after Republican lie has been exposed, their followers still reapeat them?