Nine Dollar A Gallon Gas Coming To A Station Near You

The American Energy Alliance have put out an ad that says we have $9.00 a gallon gas coming soon. According to AEA, “President Obama and his administration are intentionally boosting the price of gas by restricting access to Americas natural resources. We have enough oil to fuel our economy for the next 200 years.” They try to correct some of the myths being spread by President Obama. Including when he said, “As a country that has 2 percent of the world’s oil reserves, but uses 20 percent of the world’s oil … what that means is, as much as we’re doing to increase oil production, we’re not going to be able to just drill our way out of the problem of high gas prices.” The AEA says, “When President Obama’s says that the U.S. only has 2 percent of the world’s oil reserves, he is only talking about a small portion of our oil resources—reserves that have already been discovered through actual exploration or drilling and can be recovered economically. But that isn’t all of the oil we have or all of the oil we could extract with today’s technology. According to government data, the United States has 1,442 billion barrels of technically recoverable oil—enough to last 200 years.” The AEA goes after other myths including the “silver bullet” one from President Obama when he says, “There is no such thing as a quick fix when it comes to high gas prices. There’s no silver bullet.” The AEA points out that “when President Bush lifted the executive moratorium on drilling in most of the Outer Continental Shelf (OCS). The price of oil fell over $9 per barrel almost immediately after the announcement. It fell further when Speaker Nancy Pelosi announced that Congress would allow the congressional moratorium on offshore drilling to expire, as well. Ebbs and flows in oil futures prices occur as markets attempt to anticipate what future supply and demand might look like for a global commodity like oil, and much of this access to resources hinges on the decisions of policymakers and world leaders.” AEA has attracted enough attention with this ad that President Obama’s Attack Watch have devoted a page to them called, “Big Oil launches a misleading ad campaign about the President’s energy record.” Here is the 30 second ad “Nine Dollar Gas” from the American Energy Alliance;