Empty Boast: As we have noted before in our Issues & Insights pages, President Obama has taken credit for an energy boom he had nothing to do with. A government agency now confirms what many have known to be true.
The Congressional Research Service has released a report, “U.S. Crude Oil and Natural Gas Production in Federal and Non-Federal Areas,” that corroborates what we’ve said.
“All of the increase (in oil and natural gas production) from FY2007 to FY2012 took place on non-federal lands, and the federal share of total U.S. crude oil production fell by about seven percentage points,” writes Marc Humphries, the government specialist in energy policy who authored the report.
During this period, oil production on federal land fell from nearly 1.7 million barrels a day to 1.6 million. At the same time, the share of overall production on federal lands shriveled from 33% to 26%.Continue reading on news.investors.com