Back in September John Hofmeister, former CEO of Shell Oil and founder of Citizens for Affordable Energy, warned that China’s increased consumption of oil would have an impact on global gas prices.

This weekend Hofmeister blasted the Obama Administration for prohibiting oil and gas production in the United States.
FOX News reported:

Nationally, gas prices are $3.53 a gallon, up 25 cents since Jan. 1, and likely headed to $4.25 a gallon by late April. Republicans have demanded more oil production at home, as well as building the Keystone XL pipeline across the middle of the U.S. to allow oil from Canada to reach Texas refineries.

Obama rejected the plan, but one of his spokesmen, Robert Gibbs, said the president is looking to increase domestic energy production.

“Just on Friday, the Department of Interior issued permits that will expand our exploration in the Arctic. The president has increased our fuel efficiency and energy efficiency standards so we do use less energy, which will help drive down the price,” Gibbs said. “Our domestic oil production is at an eight-year high, and our use of foreign oil is at a 16-year low. So we’re making progress.”

But John Hofmeister, former CEO of Shell Oil and founder of Citizens for Affordable Energy, told Fox News that oil production today is only 7 million barrels per day when it used to be 10 million per day.

Hofmeister warned that the global economy is in “the crosshairs” of a precarious situation in which China is growing its demand for oil each year by millions of barrels per day and turmoil in the Middle East is creating “some of the most unpredictable, volatile, geopolitical situations” in the world.

Global oil demand, meanwhile, is expected to increase by another 1.5 percent to 89.25 million barrels a day in 2012, according to the Energy Information Administration.

“The failure of the United States of America, the world’s largest consumer, to adopt government policies to enable domestic production to increase and meet these conditions has been nil, nada, nothing, and that is unfortunate for American consumers,” Hofmeister told Fox News.

“We know where the oil is but the government has to allow the companies to get the oil,”
he said, charging the Obama administration with being “anti-drilling,” as demonstrated by the moratorium in the Gulf of Mexico following the BP spill in 2010.

The average price of gas this month so far is $3.49 a gallon — up 21 cents since the beginning of the year — and $1.60 more per gallon than when Obama took office in January 2009.

When you fill up your gas tank this week and every week you can thank Barack Obama and democrats for the record amount you are spending at the pump.

 

 

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  1. This guy makes a good point about Obama and his band of merry idiots.

  2. Jim, Let’s thank the obstructionist Democrats & this obstructionist administration with pink slips. It’s only appropriate since they’ve done nothing positive for anyone who isn’t a political ally of their’s.

    The bottom line is this: If something’s unproven or expensive, this administration will subsidize it or they’ll offer guaranteed loans to those companies. If it’s a proven, inexpensive (at least in the past), commodity, they’ll shut it down & do everything possible to shut it down. (See the BP overreaction.)

  3. Turkey and China ‘helping Iran evade UN sanctions’

    In an attempt to escape the effects of the wide-ranging sanctions imposed over Iran’s illegal nuclear programme, Iran’s central bank is using a number of financial institutions in China and Turkey to fund the purchase of vital goods to keep the Iranian economy afloat.

    According to Western security officials China, which is Iran’s largest oil trading partner, is playing a major role in helping Iran to avoid the sanctions.

    Instead of transferring payments to Iran owed from oil purchases, Chinese banks are using the money to buy goods on behalf of the Iranians and then shipping them to Iran.

    “It is like an old-fashioned barter mechanism,” explained a senior security official. “The money Iran earns from oil sales goes into banks in China and is then used for Iranian purchases of other goods and materials. It is a very good way of getting round the sanctions.” Security officials have also identified a number of financial institutions in Turkey that are helping Iran to evade sanctions.

    Turkey, which maintains good diplomatic relations with Tehran, is particularly useful to Tehran because of its close trading ties with Europe.

    http://www.telegraph.co.uk/news/worldnews/middleeast/iran/9091736/Turkey-and-China-helping-Iran-evade-UN-sanctions.html

  4. If gas prices don’t come back down, I will have to quit my job and find employment closer to home. Currenly, I am spending $3800 in gas a year to commute. RIDICULOUS. I’d much rather be speding that money on much needed repairs on my home, or furthering my own education, or just paying off loans. This just “effing” SUCKS. Whoever said the recession is over is seriously mistaken

  5. Whoever thinks we can afford to vote for even ONE progressive should have his or her voting rights taken away. We have elected and re-elected a whole generation of jackasses who have piddled our energy needs away for pie-in-the-sky ideas, all the while making us more dependent on muslims for our energy needs. There is zero reason not to have worked with Canada on that pipeline, except to appease liberal, clueless morons who should not even have a seat at the table of discussion regarding energy or any other topic, for that matter.

  6. It isn’t even the summer driving season, and gas prices are “necessarily skyrocketing”. Obama must be so pleased.

  7. and ozero laughs everynight before going to bed….his plan is working just like he set out to do from day 1

  8. The choice is clear. With this administration, we get energy starvation. With Newt, we get Drill Here, Drill Now, Pay Less. PS- I explain in this post that Newt’s the only GOP presidential candidate with a serious energy plan.

  9. As Jim Hoft previously noted, it isn’t just NOT developing domestic oil production, Obama is GIVING AWAY literally BILLIONS in oil.. an entire US reserve, with its territories.. this should be TOP NEWS!!!:

    Report: Obama Administration Is Giving Away 7 Strategic Islands to Russia AND the BILLIONS in oil around them!!
    Posted by Jim Hoft on Saturday, February 18, 2012, 12:32 PM

    Quote:
    The seven endangered islands in the Arctic Ocean and Bering Sea include one the size of Rhode Island and Delaware combined. The Russians are also to get the tens of thousands of square miles of oil-rich seabeds surrounding the islands. The Department of Interior estimates billions of barrels of oil are at stake.

    http://www.thegatewaypundit.com/2012/02/report-obama-administration-is-giving-away-7-strategic-islands-to-russia/

  10. Think for a minute about what you guys are saying: “Obama wants gas prices to go up.” Really? What do you think high gas prices will do to his re-election chances?
    Also, this guy is the ONLY one saying production is down. Fact is domestic production has been going up for three years. Why are prices so high? Exports and speculation.
    http://blogs.wsj.com/marketbeat/2011/04/12/goldmans-commodities-call-exactly-what-did-it-say/
    I know you guys won’t (can’t?) read the link, so here is the cliff notes version:key phrase:“net speculative positions are four times as high as in June 2008,”
    http://www.usatoday.com/money/industries/energy/story/2011-12-16/us-oil-boom/52053236/1
    But don’t let facts get in the way of your hatred. I lol everytime i come here when I read about how Obama is thedumbest president ever who orchestrates a worldwide conspiracy to “bring Amurka down”!!! cheesus t!tty fu(&n christ….

  11. Thank you concr3thblue for setting us all strait.
    Now I realize how prosperous America has become in the last three years. How employment at good high paying jobs is at an all time high, and that we have never had it better than we have since our messiah was anointed. Never has government been more fair honest or efficient.
    I now realize that it doesn’t matter how high the price of gasoline goes because we can just print more money and spread that wealth around. And I just can’t wait for Obamacare to fully kick in because it will mean even more stuff for free.
    Just like you, blue, I proclaim it, so it must be true.

  12. Unlike you, I provided links to the FACTS I posted. Where are yours?

  13. Don’t do irony much do ya concrete.

  14. I perfectly understand irony. I just did not think you were satirizing the usual GP poster. Nice work.

  15. Mr. Hofmeister’s comments are all true. Obama’s message being spread by the democrat party-controlled media is that he has cut dependance on foreign oil and that he has created 2.7 million ‘green energy’ jobs. The bigger the lie the better is sells.

    Keep fighting to get the truth out.

  16. Where’s the beef in your claim? The ex ceo refers to no stats or figures, just makes baseless claims. The facts have been presented by me. Please support your claim, beef. Otherwise you are just another typical gp poster…..
    “Ignorance is curable, but stupid is genetic”…and I would add purposeful ignorance is just downright stupid!

  17. > #18 February 20, 2012 at 12:28 pm
    > Beef commented:

    > Obama’s message being spread by the democrat party-controlled media…

    Don’t forget – also in the diseased minds of retarded koolaid-ers.

    Regardless of moronic media influence, critical thought takes too much character for virtually all of these imbeciles – certainly all who are so seduced by PC idiocy and entitlement “rights” that they cannot take a second look except to find blame and to justify throwing their big government rocks in what the founders new to be our glass house.



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