IER Releases Facts to Counter Administration Claims About Domestic Energy Production
Institute for Energy Research , Bio and Archives--January 10, 2012
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Obama Claim: The administrationraised more than $250 millionin lease salerevenues in 2011, up 20 percent over 2010.
FACT: Oil production on federal lands isdown 13 percentin 2011:97,721,813 barrels in 2011versus112,124,812 barrels in 2010.
FACT:Offshore lease sales haveplummeted more than $9.4 billionsincethe Obama administration took over. This means that Americans collected258 times less revenuefrom offshore lease sales than they did during the last year of the Bush administration.
Obama Claim:The administration isincreasingthe amount of federal landsavailable for domestic energy production.
FACT:The average annual leases issued during the Obama administrationisdown 35.5 percentfrom the George W. Bush administration,down50.7percentfrom the Clinton administration,down 69.5 percentfrom the George H.W. Bush administration, anddown 78.9 percentfrom the Reagan administration.
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The Institute for Energy Research (IER) is a not-for-profit organization that conducts intensive research and analysis on the functions, operations, and government regulation of global energy markets. IER maintains that freely-functioning energy markets provide the most efficient and effective solutions to today’s global energy and environmental challenges and, as such, are critical to the well-being of individuals and society.