Podcast: Play in new window
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In trying to justify higher pump prices, and downplay stated policy of making gas prices rise–a policy made clear prior to his election–Obama states frequently, “America has only 2% of the world’s oil reserves”. He forgot to mention the estimated (by his own energy department, no less) up to an additional 1.2 TRILLION barrels under American soil he and EPA are trying to block. More than Saudi Arabia. Or, “our production is greater now than at any time in past eight years.” He omits more than 90% of those wells were permitted prior to his taking office–and notice how no claim was made as to any increase in federal lands permits (future production) during his tenure? Have ya heard much about the European meltdown lately? Uh-oh. Think that mess is all magically better? Unemployment? The books are cooked according to top economists. How about inflation? Maybe if they don’t tell us, we won’t notice! Moral: think about what is not said–and worry.
