{"id":24189,"date":"2014-10-29T15:57:22","date_gmt":"2014-10-29T19:57:22","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=24189"},"modified":"2014-10-29T15:57:22","modified_gmt":"2014-10-29T19:57:22","slug":"are-you-enjoying-the-current-price-of-gasoline","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=24189","title":{"rendered":"Are You Enjoying The Current Price Of Gasoline?"},"content":{"rendered":"

On Sunday, Stephen Moore posted an article at The Daily Signal<\/a> about the recent decline in gasoline prices<\/a>. The article reminds us that in June, oil reached a peak price of $103 a barrel. Since then, the price has dropped 25 percent. American<\/a> motorists are seeing the results of that drop in gasoline prices at the pump that have dropped below $3.00 per gallon. At their present levels, gasoline prices are saving American consumers and businesses $200 billion a year.<\/p>\n

The article reports:<\/p>\n

Oil prices are falling because of changes in world supply and world demand. Demand has slowed because Europe is an economic wreck. But since 2008 the U.S. has increased our domestic supply by a gigantic 50 percent. This is a result of the astounding shale oil<\/a> and gas revolution made possible by made-in-America technologies like hydraulic fracturing and horizontal drilling. \u00a0Already thanks to these inventions, the U.S. has become the number one producer of natural gas<\/a>. But oil production<\/a> in states like Oklahoma, Texas and North Dakota<\/a> has doubled in just six years.<\/strong><\/p>\n

Without this energy blitz, the U.S. economy would barely have recovered from the recession of 2008<\/a>-09. From the beginning of 2008 through the end of 2013 the oil and gas extraction industry created more than 100,000 jobs while the overall job market shrank by 970,000.<\/strong><\/p>\n

President Obama<\/a>, you didn’t build this recovery (such as it is)–it happened in spite of you! The energy blitz in America is breaking the back of OPEC. They can no longer blackmail western countries with threats of cutting off their oil supply<\/a>.<\/p>\n

The article further reports:<\/p>\n

Yet the political class still doesn\u2019t get it. As recently as 2012 President Obama declared that\u00a0\u201cthe problem is we use more than 20 percent of the world\u2019s oil and we only have 2 percent of the world\u2019s proven oil reserves<\/a>.\u201d \u00a0Then he continued with his Malthusian nonsense, \u00a0\u201cEven if we drilled every square inch of this country right now, we\u2019d still have to rely disproportionately on other countries for their oil.\u201d Apparently, neither he nor his fact checkers have ever been to Texas or North Dakota.\u00a0 And we don\u2019t have 2 percent of the world\u2019s oil. Including estimates of onshore and offshore resources not yet officially \u201cdiscovered\u201d, we have ten times more than the stat quoted by the president\u2013resources sufficient to supply hundreds of years of oil and gas.<\/strong><\/p>\n

If the President and his Democrat allies would get out of the way, the American economy would recover. Please remember that when you vote next week.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

On Sunday, Stephen Moore posted an article at The Daily Signal about the recent decline in gasoline prices. The article reminds us that in June, oil reached a peak price of $103 a barrel. Since then, the price has dropped … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[8315,1957,314,8316,8313,689,364,8312,8314],"class_list":["post-24189","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-gasoline-prices","tag-natural-gas","tag-north-dakota","tag-oil-production","tag-oil-supply","tag-opec","tag-president-obama","tag-proven-oil-reserves","tag-shale-oil"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/24189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24189"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/24189\/revisions"}],"predecessor-version":[{"id":24190,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/24189\/revisions\/24190"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}