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DR. MARK W. HENDRICKSON: THE ELECTION-YEAR POLITICS OF ENERGY |
The president’s statement about America having only 2 percent of oil reserves is misleading. The size of our reserve is actually quite vast, but the percent of the world’s oil we have is far less important than the amount we produce. The United States accounts for at least 6 percent of global production of petroleum—a figure that would be significantly higher had President Obama’s party not been impeding and restricting domestic petroleum production for years.
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