Oil & Gas Prices

Reasonably astute readers will catch the falsehoods and fallacies inherent in the following statement made by President Obama last Wednesday at the town hall meeting held in Fairless Hills, Pennsylvania: But here’s the thing about oil. We have about 2, maybe 3 percent of the world’s proven oil reserves; [1] we use 25 percent of the world’s oil. [2] So think about it. Even if we doubled the…

Back in mid-2008, as gas prices approached $4 a gallon and the first inklings that a real recession would soon be under way were appearing, George W. Bush told a town hall audience questioner who wondered when gas prices might start coming down that it might be time for owners of gas-guzzling SUVs like the questioner to "think about a trade-in." He also laughed at the questioner's indication…

On Wednesday's All Things Considered, NPR's Ari Shapiro acted as a stenographer for the Obama administration's energy proposals. Shapiro played four clips from the President's recent speech on the issue, and another from a sympathetic environmentalist. Even the lone clip from an oil industry representative came from someone who "supports the move to invest in biofuels and clean energy." At…

On Thursday at Reuters, Andrew Quinn, with the help of Caren Bohan, cobbled together a pathetic "analysis" full of sympathy for a "struggling" Barack Obama and recognition of the need to keep oil flowing from Saudi Arabia. It also contained a false jab at George W. Bush and the War in Iraq. First, let's look at Quinn's Bush jab: Obama is committed to partnering with other countries rather…

Former Clinton labor secretary Robert Reich wrote a truly nonsensical piece for the Huffington Post Tuesday ironically called "The Republicans' Big Lies About Jobs." MSNBC's Chris Matthews must have loved this tripe and its sophomoric title for he invited the Berkeley professor on Wednesday's "Hardball" so that the pair could put on a clinic in liberal economic fantasy (video follows with…

After two years of practicing unrepentant contempt for science, jobs, law and truth, why should Interior Secretary Ken Salazar's words mean anything anymore? While President Obama promotes offshore drilling overseas thousands of miles away in Brazil, Salazar now promises to revitalize America's oil and gas industry. It's like Jack "Dr. Death" Kevorkian promoting himself as a lifesaving CPR…

It was likely not a surprise to "Inside Washington" viewers that most of the usual suspects on the panel Friday saw the crisis in Japan as not being good for the future of nuclear powered electrical plants in this country. What certainly must have raised a couple of eyebrows though was the strongest opposition to any further construction of such facilities coming from lone conservative…

Bill Maher in the middle of last year's crisis in the Gulf of Mexico wrongly stated on national television that Brazil had gotten off of oil 30 years ago. With great irony, President Obama announced Saturday that he wants America to become a major buyer of - wait for it! - Brazilian oil drilled offshore:

CNBC's Lawrence Kudlow on Friday made a stock market comment about the earthquake and resulting tsunamis in Japan that have liberal media members hyperventilating. Before we get to the response, here's what Kudlow said (video follows with partial transcript and commentary):

With civil unrest breaking out all over the Middle East and Africa sending oil and gas prices through the roof, one could make the case that Barack Obama more and more is looking like Jimmy Carter. On this weekend's "Chris Matthews Show," the liberal host made it seem that this is even on his mind as he made a rather telling slip of the tongue (video follows with transcript and commentary):

A prominent GOP senator on energy issues accused President Barack Obama Thursday morning of having set an “explicit policy goal” of making energy prices more costly for Americans. “My message today is simply this: higher gas prices - indeed, higher prices for the energy we use - are an explicit policy goal of the Obama administration,” said Sen. James Inhofe (R-Okla), ranking member of the…

Higher gas prices? No worries, say Jad Mouawad and Nick Bunkley in Wednesday’s New York Times off-lead story, “Rising Gas Cost Finds The Nation Better Prepared – Lessons Learned In ‘08 – Less Dependence on Oil – Spike Unlikely to Derail Recovery.” Yet while $3.57 a gallon for gas isn’t worrisome for the economy in 2011, $2.55 a gallon was very much so in 2005, during the Bush years. The…

On MSNBC's "Daily Rundown" today, Steve Liesman robustly defended raising gasoline taxes as a way to address rising oil prices. The CNBC senior economics reporter minced no words to show his support for hiking the unpopular consumption tax in the midst of a sluggish economic recovery: "I want to offer that one of the real solutions here is a gas tax." After positing that the problem with…

In an interview with former Clinton Labor Secretary Robert Reich on Monday's CBS Early Show, co-host Erica Hill wondered if higher gas prices in the wake of Mideast unrest were the result of some sort of fraud: "We've seen prices skyrocket....Is the public right to feel taken advantage of in some ways here, or even scammed?" Even the liberal Reich didn't accept the premise: "Well look, a lot…