Obama does not get or claim credit for all the drilling. But …
- He sure has let it rip. (Did they strike oil?)
- Amazing as it is, it did not bring gas prices down. Click here for why.
zFact: This is the biggest oil-drilling surge in 30 years, and likely the biggest ever.[F[The 1981 surge may have involved more rigs, but today’s rigs can drill much faster, more flexibly and more accurately. (Before 1987, oil & gas rigs are not separated in the data.)]F]
- This is the best oil-industry data — Baker Hughes. (exact data[F[See North American Rotary Rig Counts, tab 9, “US Oil & Gas Split.”]F])
- If you see data that shows a much lower drilling spike, look closely and you will find that it includes drilling for natural gas. [F[That has been slowing down because the price of natural gas has plummeted. This graph is for oil drilling, and that’s what counts for gasoline.]F]
See the unprecedented impact of Drill-Obama-Drill.