GDP up? US oil production at record high —despite Obama’s hostility…
(CUSA) – If GDP is up 4% we have a good idea where it came from—oil and gas. Furthermore, work is good and using the environment to the benefit of humanity is divinely authorized. The numbers on oil and natural gas production bear this out as reported by Investors Business Daily:
Since Obama took office, oil and gas production has soared on private and state land, for which he deserves little or no credit. Meanwhile, production on federal lands has dropped sharply due to a cutback in leasing of deepwater areas for energy development.
The U.S. government leases less than 2.2% of the energy-rich Outer Continental Shelf, and less than 6% of federal onshore lands. Offshore leasing is at half the level recorded during the Clinton administration, and its decline is indicative of Obama’s hostility toward the oil and gas industry.
Nevertheless, thanks to drilling on private and state land, U.S. oil production is on pace to break a 42-year-old record next year.
It is clear therefore that American creativity and ingenuity has thrived amidst government hostility and the agenda to put liberal policy above the needs of the citizens.
This is the foundation of what makes America the best country in the world and why it will continue to be a leader despite the failure of the government to fulfill its duty to encourage creativity which results in human flourishing.
So yes, Americans can spin gold from straw in spite of an economically oppressive administration. And the credit is theirs as well because, well, they built that. —DNW