1) If Obama is fudging, it would be productive for you to tell us what and how, if you know.
2) What I gave wasn't my opinion.
US oil reserves represent 1.3% of world total. (page 22)
US oil production represents 7% of world total.
I was wrong tho. It used to be 10%. My bad. (pg 30)
OPEC represents 44% of world production of oil.
http://www.opec.org/opec_web/static_...B2010_2011.pdf
OPECs ability to set prices is severely limited by the fact that the cartel does not represent even 50% of the world's oil production.
United States has added refinery capacity in each of the last five years, BTW.
(page 38 of the statistical extract for 2010)
That is why I "act" as if oil prices are set by market forces.
My "gotcha" has relevant data, backed up by sound economics. I am going to bookmark/save this thread.
You can try to back up heritages' bull if you want. You will fail, because you let yourself get lied to, as I have pointed out. I hope you will try, maybe then you can see for yourself, instead of making me do the work you should have done in the first place.
That is not a nice thing to say, and I realize you are at heart a decent person, but if you suck this stuff up without a modi of understanding or fact checking, solely because you *want* to believe it, I'm sorry.