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Drilling Hype

Recorded on January 25, 2012

From The Heritage Foundation, I'm Ernest Istook.

Despite attacks from radical environmentalists, America's oil and gas industry survives and boosts our economy.

In his State of the Union speech, President Obama claimed credit for the success of an industry he keeps trying to kill. Now he's bragging because production is up.

But that's thanks to drilling on private lands where the government has a harder time shutting them down. On public lands, drilling is down 40% in Obama's term. Onshore leases are the fewest since 1984. And only one—yes, just one—offshore lease was approved last year.

And Obama's rejection of the Keystone Pipeline means that Canadian oil will probably go to China not the USA, also costing us thousands of jobs.

Meantime, Obama's green energy agenda is a bust, with billions going down Solyndra-style ratholes. Now THAT is what he should claim credit for.

From The Heritage Foundation, I'm Ernest Istook.