Obama on Energy: New Speech, Same Old Gimmicks

Nicolas Loris /

Nearly a year ago, President Obama delivered a speech calling for an increase in oil and gas production. Since then, he has canceled more production than he has allowed. Today he delivered a speech at Georgetown University outlining a plan to cut oil imports by one-third by 2025.

President Obama said when gasoline was $4 a gallon, “you had a lot of slogans and gimmicks and outraged politicians waving three-point plans for two-dollar gas—when none of it would really do anything to solve the problem.” Then he offered his own four-point plan to reduce dependence on foreign oil by: increasing oil and gas development; a fleet of natural gas/electric/fuel-efficient vehicles; biofuel production; and by 2035, making sure “80 percent of our electricity will come from an array of clean energy sources, from renewables like wind and solar to efficient natural gas to clean coal and nuclear power.” Let’s take these points one by one. (more…)