The Institute for Energy Research is a not-for-profit organization that conducts intensive research and analysis on the functions, operations, and government regulation of global energy markets.

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July 7, 2016

Déjà vu all over again: Obama falsely takes credit for low gas prices

July 7, 2016
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WASHINGTON — In a recent stump speech for Hillary Clinton, President Obama once again took credit for increased domestic energy production and low gasoline prices:

“Remember when we were all concerned about our dependence on foreign oil? Well, let me tell you — we’ve cut the amount of oil we buy from other countries in half. Remember when the other team was promising they were going to get gas prices down in like 10 years? We did it…”

Today, the Institute for Energy Research released an updated analysis explaining how the increase in energy production has happened despite the president’s policies, not because of them. Using a recent Congressional Research Service (CRS) report, IER’s analysis highlights the stark contrast between booming oil and natural gas production on private and state lands and the anemic production on federal lands. IER’s findings include:

  • In fiscal year 2015, oil production on federal lands was 0.8 percent more than its high reached in fiscal year 2010, while production on private and state lands was 113 percent higher.
  • Natural gas production on federal lands has not regained the high reached in fiscal year 2007. For example, it was 27 percent less in fiscal year 2015 than in fiscal year 2010, while production on private and state lands in 2015 was up by 55 percent since 2010.
  • Under the Obama administration, it takes an average of 237 days for the BLM to process a federal drilling permit.
  • In contrast, some states approve permits within 10 business days.
  • The average number of leases issued by Obama’s BLM is almost 60 percent less than the average issued by the Clinton Administration and over 45 percent less than those issued by the Bush 43 Administration.

In recent years, oil and natural gas production on private and state lands has skyrocketed, while production on federal lands is largely in decline and has been throughout most of President Obama’s time in office. The Obama Administration is offering less land for lease and taking longer to process permits to drill than prior administrations. As a result of the red tape, oil and natural gas producers are turning to private and state lands to make their investments and to produce affordable energy for American families.

Click here to read IER’s full analysis.

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  • NuyaBizness

    Oh so I expect leases on publicly owned lands to be coming up for bids aaaany day now. Come on aaany minute… sigh..

  • Hugh Jazz

    Nothing to do with Obama.

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