[Fundguy1]

Originally Posted by SmallTownBoy

+1 for taking this to off topic/politics, but in the meantime...

U.S. oil and natural gas production has soared during the Obama administration, at an almost exponential rate. 2.72 Million barrels last year, a level not seen since 1991. Obama's got the oil tap gushing at full, not the reverse.

http://www.eia.gov/dnav/pet/hist/Lea...s=mcrfpus1&f=a

Let's hear Funnyguy's "supply/demand" explanation for that. Or shall we just google the Fox News site for the answer?

OMG so dumb. Ok. I will try to explain it to your pea brains. Gas was cheap before Obama because easily obtained oil reserves on federal land was available. With prices so low it didn't make econom sense to get more gas out of the us ground. When he shut this cheap supply off prices rose worldwide. These higher prices made shale and fracking economically viable. Without him closing federal lands to oil production, there wouldn't be these high prices or fracking. With oil over $80 a barrell, us and Canadian oil production on private lands skyrocketed. Couple this with the middle east supplying less and Asia using more our total production increased. However if they were to free up y he federal stuff, fracking, tar sands, etc. Would become to expensive and stop production as well as the huge increase in oil would drop prices dramatically.