A student in Norfolk, Virginia had a simple question for Vice President Biden: "Why is prices on gas increasing? You know what I mean?" Biden, after promising a "brief answer," takes 11-minutes not to answer the kid's question:
The Energy Information Administration—a federal agency—just released a report titled, "Sales of Fossil Fuels Produced on Federal and Indian Lands, FY 2003 Through FY 2011." The Institute for Energy Research summarizes the report's major findings:
-Fossil fuel (coal, oil, and natural gas) production on Federal and Indian lands is the lowest in the 9 years EIA reports data and is 6 percent less than in fiscal year 2010.
-Crude oil and lease condensate production on Federal and Indian lands is 13 percent lower than in fiscal year 2010.
It has been a tough week for the president. Just as things were supposed to be getting better for him—as they were for the economy—his support and approval ratings took a severe hit in two important polls. And then there was a survey that indicated that 80 percent of the population does not consider itself better off than it was four years ago.
Speaking at the University of Miami on February 23, Obama again revealed his remarkable gift for oratory. He denied any responsibility for the rising gas prices and instead took the credit for dramatically increased domestic oil production. This took real artifice.
The good thing about election campaigns is that they force both parties to do things, or at least to promise to do things they should have done long ago. President Barack Obama is a born-again tax cutter. He wants the top rate of corporate income tax cut from 35 percent to 28 percent, and the maximum rate paid by manufacturers reduced from the current average of 32 percent to 25 percent.