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In his weekly address, President Obama discusses progress in American energy and highlights that we are now producing more oil at home than we buy from other countries for the first time in nearly two decades.
3 comments
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jvic Sun, Nov 17, 2013 8:01:02am |
This post took me aback because I keep hearing Republican/oil industry complaints about federal restrictions on drilling, and I keep hearing about two-dollar gas under Bush. I decided to check recent gas price history at GasBuddy, which is a consumer site and not a partisan one afaik.
It turns out that gas prices tripled under Bush, peaking at over $4/gallon. Then, wondrous to relate, they plunged by 60%, coincidentally as the 2008 election approached. Two-dollar gas was near the 2008 low. Since then prices have recovered and have ranged from $3.25 to $3.85 over the last two years.
Was the 2008 plunge in prices due to manipulation on behalf of the GOP, or to the Great Recession, or to both? I don’t know. Also, it’s my impression that the federal government did not have a major role in developing the technology that revived the domestic energy industry.
Nevertheless, the BushCheney good, Obama bad narrative about energy is no longer one I accept at face value.
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EiMitch Sun, Nov 17, 2013 11:28:31am |
Pardon me Randall but why did you cut-&-paste the same quote twice?
Pardon me Randall but why did you cut-&-paste the same quote twice?
/troll
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