23 Feb 2012 9:45 pm
Newt Gingrich has just released a nearly 30 minute long TV ad that`s all about rising gas prices and what president Newt Gingrich will do to bring them down. According to Newt Gingrich and his 30-minute infomercial, the Obama administration is, quote, "anti-oil."The truth?The United States' rapidly declining crude oil supply has made a stunning about-face, shredding federal oil projections and putting energy independence in sight of some analyst forecasts. After declining to levels not seen since the 1940s, U.S. crude production began rising again in 2009. Drilling rigs have rushed into the nation's oil fields, suggesting a surge in domestic crude is on the horizon. The number of rigs in U.S. oil fields has more than quadrupled in the past three years to 1,272, according to the Baker Hughes rig count. Including those in natural gas fields, the United States now has more rigs at work than the entire rest of the world. "It's staggering," said Marshall Adkins, who directs energy research for the financial services firm Raymond James. "If we continue growing anywhere near that pace and keep squeezing demand out of the system, that puts you in a world where we are not importing oil in 10 years."Newt Gingrich is a big fat liar.More dishonest propaganda from one of the board's worst liars.The truth is, almost all of that was approved under Bush, and Obama has greatly slowed down the approval process, even repeatedly defying court orders to give approvals for drilling in the Gulf.Court orders Obama to act on drilling permitsBy Steve Hargreaves, senior writerFebruary 21, 2011: 11:14 AM ETNEW YORK (CNNMoney) -- A federal court ordered the Obama administration Thursday to act on five deep water drilling permits in the Gulf of Mexico within 30 days, calling the delays in issuing new decisions "unreasonable, unacceptable, and unjustified."In a case brought by the drilling company Ensco, U.S. District Court for the Eastern District of Louisiana Judge Martin Feldman ruled that the four to nine months the company has waited for a decision on the permits it has a stake in is simply too long.http://money.cnn.com...rmits/index.htm.Heck, even Bill Clinton blasted Obama.Clinton Blasts Obama's Foot Dragging on Oil Drilling Permits By Warner Todd HustonInterestingly at the end of last week during the IHS CERAWeek conference held in Houston, Texas, former President Bill Clinton said that Obama's constant delays on issuing offshore oil drilling permits was "ridiculous."http://www.chicagono...illing-permits/Bil's just earning the money he's been paid for his speeches.