The former president of Shell oil company, John Hofmeister, slammed former President Barack Obama for his claim that he is responsible for the boost in oil production within the United States.
As IJR previously reported, Obama told the room that he was responsible for the boom in oil production and for the stock market’s success.
Obama: "Suddenly America is the largest oil producer, that was me people … say thank you." pic.twitter.com/VfQfX1SR0x
— Tom Elliott (@tomselliott) November 28, 2018
“I was extraordinarily proud of the Paris Accords because I know we’re an oil country and we need American energy. And by the way, American energy production, you wouldn’t always know it, but it went up every year I was president. And you know that whole suddenly America’s like the biggest oil producer and the biggest gas. That was me, people. And I just want you to know. So it’s a little like sometimes you go to Wall Street and folks will be grumbling about anti-business. I said have you checked were your stocks were when I came into office and where they are now. What are you complaining about? Just say thank you, please.”
Hofmeister didn’t pull any punches when picking apart the former president’s claims.
“Yes, [oil] production did increase throughout his term, but frankly, he had nothing to do with it. It was production in states like Texas, Oklahoma, Pennsylvania, Ohio, Colorado, North Dakota, in particular. And these were all state decisions made with industry applications for permits. The federal government had no role.
And if anything, he was trying to frustrate the efforts by taking federal lands off the availablity list, putting them out with no more drilling. He shut down the Gulf of Mexico for a period of six months. Changed the regulations from an average of 60 to 80 pages per permit to 600 to 800 pages per permit. He also never approved the Keystone XL pipeline after dangling the potential customers for eight years. And it was in the eighth year when he said ‘no Keystone pipeline.’ And so I would say he was not a leader when it comes to energy.”
Hofmeister claimed that Obama mostly slowed production down when it came to carbon-based fuel regulations.
“He can take credit for all he wants, but whether people believe him or not, it depends upon how much history do you really know and how much history do you want to reinvent,” said Hofmeister.