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Posts tagged “George W. Bush”

By Robert Rapier on Jan 23, 2012 with 36 responses

Are President Obama’s Policies Causing U.S. Oil Production to Rise?

Question: What do President Barack Obama and ex-President Jimmy Carter have in common? Answer: Both presided over strong increases in domestic oil production that were a result of decisions made before they took office, as I explain in this post. In my recent post The Oilman in the White House, I posted the following graphic: Is There More to this Graphic than Meets the Eye? The purpose of the graphic was to get people to think about why oil production had behaved in this manner over the past decade. A lot of people took the bait, and asked how I could possibly believe that President Obama was responsible for this rise in production given his apparent hostility toward the oil… Continue»

By Robert Rapier on Jan 6, 2012 with 108 responses

The Oilman in the White House

No, I am not talking about George W. Bush. I just finished the chapter on politics for my book, and I created a number of graphics to show the behavior of oil prices, production, imports, and consumption through the last eight presidential administrations. Here is one of the more counter-intuitive graphics that you will ever come across: Is There More to this Graphic than Meets the Eye? During the eight years of the Bush Administration, annual domestic oil production fell every year (I have a graphic in the book that makes this even clearer than the one above). During the first three years of the Obama Administration, domestic oil production has gone up every year. In the book I put… Continue»

By Robert Rapier on Aug 8, 2011 with 103 responses

When Falling Oil Prices are Bad News

Economic Heartache Normally, consumers consider falling oil and gasoline prices to be good news. They have to pay less to fill up their tanks. And if the reason for that is that oil supplies are increasing at a rate faster than demand is increasing, it can indeed be a good situation for consumers, and good for the economy. But here’s the bad news: That is not the case today. Oil prices fell last week to below $90 a barrel, their lowest level in six months. I think oil prices are likely to fall further in the short term, and gasoline prices won’t be far behind. While this news alone does mean that consumers will get some relief, the broader picture… Continue»