Tuesday, August 26, 2008

More liberal lies about energy

This idiot speaking before Hillary said that the U.S. uses 25% of the world's oil but has only 3% of the reserves.

First, that's proven reserves. Reserves are in fact not going down, but constantly going up despite global consumption. That's because because we keep discovering new reserves that exceed what we take out. The world consumes about 87 million barrels of oil per day, so Brazil's new reserves of 33 billion barrels could alone supply the world's needs for just over a year. And what about all the other deposits we know about and will likely continue to discover?

Second, the moron is confusing consumption with total supply, just like there's a difference between income and savings. The former is a rate at which the latter increases or decreases. If a wife is using 25% of the family's income but personally contributed only 3% of the assets, that's not necessarily a problem. What if the family spends $100,000 a year but has billions in wealth? If the U.S. uses 20 million barrels of oil per day. That means a newfound deposit of 20 billion barrels will by itself supply the U.S. for 1000 days.

Now the idiot is talking about Obama's plan to invest $150 billion over the next 10 years in "green technology," how it will create 5 million new jobs. Don Luskin debunked this in June:
Let's see... $150 billion over ten years is $15 billion a year. Let's see... 5 million jobs. That's $3,000 a year per job. Let's see... that's a wage rate of about $1.40 an hour. If those are "good" jobs, I'll take a bad one if you don't mind.

Does this mean Obama favors repealing the minimum wage?
All you need to do is put things in perspective, to think for a minute that a billion is a thousand millions, and liberals' lies become so transparent.

Good lord, the fucker is so obese, he can't even fully button his shirt collar. Reminds me of Peter Jackson at the Oscars a few years ago. Surely they make enough to afford a decent shirt with a collar that fits?

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