Read time: 2 minutes

Krugman: GOP Using Drill, Drill, Drill As Faux Jobs Program

Three years ago, Krugman talked about energy policy under the Bush administration, John McCain's proposals and how deregulating the oil companies wouldn't make gas any cheaper. I was watching Real Time with Bill Maher last night, and one of the

[oldembed src="https://www.youtube.com/embed/VWFG3p8f2jI" width="425" height="300" resize="1" fid="21"]
Three years ago, Krugman talked about energy policy under the Bush administration, John McCain's proposals and how deregulating the oil companies wouldn't make gas any cheaper.

I was watching Real Time with Bill Maher last night, and one of the Republican talking zombies was going on about how the price of gas was so high "because President Obama won't get out of the way and let companies drill." Yadda, yadda, yadda! If I hadn't just read this Krugman column, or known that Republicans lie every single time they open their mouths, I might have believed him:

To be a modern Republican in good standing, you have to believe — or pretend to believe — in two miracle cures for whatever ails the economy: more tax cuts for the rich and more drilling for oil. And with prices at the pump on the rise, so is the chant of “Drill, baby, drill.” More and more, Republicans are telling us that gasoline would be cheap and jobs plentiful if only we would stop protecting the environment and let energy companies do whatever they want.

...[T]he truth is that we’re already having a hydrocarbon boom, with U.S. oil and gas production rising and U.S. fuel imports dropping. If there were any truth to drill-here-drill-now, this boom should have yielded substantially lower gasoline prices and lots of new jobs. Predictably, however, it has done neither.

Why the hydrocarbon boom? It’s all about the fracking. The combination of horizontal drilling with hydraulic fracturing of shale and other low-permeability rocks has opened up large reserves of oil and natural gas to production. As a result, U.S. oil production has risen significantly over the past three years, reversing a decline over decades, while natural gas production has exploded.

Can you help us out?

For 16 years we have been exposing Washington lies and untangling media deceit. We work 7 days a week, 16 hours a day for our labor of love, but with rising hosting and associated costs, we need your help! Could you donate $20 for 2020? Please consider a one time or recurring donation of whatever amount you can spare, or consider subscribing for an ad-free experience. It will be greatly appreciated and help us continue our mission of exposing the real FAKE NEWS!

More C&L Coverage

Discussion

New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.

Please Do Not Use the Login Link at the Top of the Site.

In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.

We will be retiring our Crooks and Liars user account system in January, 2021.

Thank you.
C&L Team