2% versus 20%

Few arguments within the political realm drive more crazy than this one.

Today our President stood at the Southern half of the Keystone Pipeline (that would be from Oklahoma to Texas), and pronounced how much he supported domestic oil production. It was basically a "See, I'm here, supporting the pipeline. Those who say I oppose it are crazy!" The problem with this farce is the Southern half did not need his approval. It was a private endeavour, a done deal. What DOES require the Executive Branch's approval is the Northern half, from Canada to OK, because it crosses our national boundary. THAT portion he alone is holding up. Do you see how absurd this is? For months he's been getting hammered for holding up the Keystone line - despite $4 gas prices and the 20,000 jobs it would create - and now, as we close in on the election, he stands at the portion he couldn't stop if he wanted, and declares he is the reason it's opening. I'm trying really, really hard not to hate this guy. At least when Clinton lied to me I felt he was putting in some effort.

But even worse is this oft repeated argument (read: lie) that US oil reserves only represent 2% of the world's supply, yet we consume 20% each year (on average). The PoTUS repeated that very statistical comparison today at the Keystone pipeline, followed by, "So I could put an oil rig on every square inch of this nation, I could put one on the South Lawn, and it still wouldn't be enough."

AAAAAHHHHH! Engage hair pulling, now.

It's a phantom comparison. But it works because the human mind makes a simple connection - "We're 18% in the hole no matter how much we drill."

Not true.

The 2% number represents the entire world's oil reserves. Meaning we hold 2% of what is estimated to be in the ground on this planet. Got it? We consume 20% of what oil companies actually bring to market each year. That 20% is drawing from a wholly different number - the amount of sweet light crude actually introduced on the global market. It does not represent 20% of what's in the ground on this planet!

Think about it like this: Bill Gates gives me 2% of his net worth, because I'm so awesome. So my accountant tells me I can draw X amount of dollars out of my newly minted account each year and live worry free. Then, beacuse I'm such a good buddy, I give 20% of that yearly X amount to Titus. Now, has my gift to Titus even put a dent in the original 2%? Or even further, in Gate's remaining 98%?

No!

Go at it from the other direction - if the US consumed 20% of the planet's oil reserves each year, wouldn't we eat up the entire earth's oil reserves in 5 years time, all on our own?

Do you see why they get away with this? Because you have to jump through mental math gymnastics to make the case in the other direction. Meanwhile they can stand up there (insert Homer Simpson voice here) and say "Doh, 20% consumed, 2% have ... bad."

Ahhh!!! It's maddening.

So those supporters of Mr. Obama, please make a choice. Either your man is a bold face liar, or he's not that bright and can't figure this out. I'll happily take either concession.