EDITOR OF REDSTATE
Jake Tapper, Politifacts, and Barack Obama’s Claim About Inflating Tires
It does not really hold up when compared to drilling in the Outer Continental Shelf.
Tapper also quotes statements by the government in 1990. They say: overinflate your tires (that saves 50,000 barrels of oil a day). They also say: overinflate your tires, drive more slowly, and join car pools (those measures in total will save 7 million gallons of gasoline a day). To be clear: this ignores the fact that only one-quarter of cars under-inflate their tires.
In 1990, 7 million gallons of gasoline a day was less than 2% of what we consumed. 50,000 barrels of oil produces just under a million gallons of gasoline, so the contribution from overinflating your tires amounts to about a third of one percent of total consumption.
So Obama, Tapper, and the George H. W. Bush Administration agree that overinflating our tires will be as good as saving 50,000 barrels of oil a day. What does that cost in increased wear and replacement costs on tires?
The OCS is said to contain 18 billion barrels of crude, although I can’t vouch for that. Saudi has 250 billion total and produces almost 10 million a day. Iraq has, according to some sources, almost 250 billion and produces 3 million a day. If the most that Obama thinks we could get out of the OCS is 50,000 barrels a day, he’s right that it’s not worth doing. There are individual wells in the Gulf of Mexico that produce that much, today.
Except the Politifact piece says the OCS can produce 200,000 barrels a day (updated: as Dave notes in the comments, 200,000 barrels a day is extremely conservative to the point of being nonsensical) for upwards of , again very conservatively, 3.5 to 4 million gallons of of gasoline a day.
Now, of course, the Democrats counter that it’d take ten years. Of course, ten years ago they were saying we should not do it because it would take . . . you guessed it, ten years to do. They do not consider new technologies, however, that could speed of the process and they discount many oil industry analysts who say it could take just two years.
In the meantime, China continues taking our oil in the OCS.
(Hat tip to Blackhedd for the analysis)