Rep. Scalise says President Obama doesn't deserve credit
for increased energy production
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Thanks in part to increased oil and gas production via horizontal drilling and hydraulic fracking, the United States is poised to become the world's leading energy producer later this year. At his news conference Tuesday, President Barack Obama called the trend a positive economic indicator. "This year, for the first time in a very long time, we're producing more oil than we're importing," the president said. Russia has been the leading oil and gas producer. Rep. Steve Scalise, R-Jefferson, a persistent administration critic, said the president shouldn't claim too much credit. He said the expanded production has occurred "despite" administration impediments, including overregulation and limits of drilling in government controlled waters and land. The president has said the administration deserves credit for espousing and putting into practice an "all of the above" energy policy that includes traditional oil and gas production, plus alternative fuels and conservation to reduce U.S. dependence on foreign oil. According to the Pew Research Center, the United States generated a record 79.1 quadrillion Btu (British thermal units_ domestically in 2012, nearly 14 percent more energy than in 2004, largely due to increased production of oil and natural gas. The United States, Pew said, is on pace to produce even more energy this year thanks to an ongoing boon in "unconventional oil and gas production led by horizontal drilling and hydraulic fracturing, or fracking. It's one reason that gas prices haven't skyrocketed more in the face of continued unrest in the Middle East, especially in Syria, Egypt and Iraq, according to industry analysts. It's another the industry rebounded so quickly after a moratorium on deep-water drilling following the 2010 BP oil spill. Scalise said Republicans in Congress will continue to work to insure that regulations don't stymie domestic production, especially on the growing use of fracking. But the president said at his Tuesday news conference that the continued partial government shutdown, and concerns that Congress might not extend the U.S. debt limit, forcing the nation to default on its debts, threatens the economic growth sparked, in part, by domestic energy production. "The uncertainty caused by just one week of this nonsense so far has caused businesses to reconsider spending and hiring," the president said. "You're seeing consumer confidence plunge to the lowest level since 2008. You're seen mortgages held up by thousands of home buyers who weren't sure about the economic situation out there. And all this adds to our deficit. It doesn't subtract from it." more: http://www.nola.com/politics/index.ssf/2013/10/rep_scalise_says_president_oba.html |
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