Rhetoric vs. action

"Every barrel of oil or cubic foot of gas that we produce at home instead of importing from abroad means more jobs, fast growth, and a lower trade deficit," said Gene Sperling, director of the National Economic Council, and Jason Furman, chairman of the Council of Economic Advisors, in a White House blog posting. The bloggers note that nearly 35,000 jobs have been created over the past 4 years in oil and gas extraction alone, with more jobs along the crude oil supply chain. New techniques and technologies of the industry have increased productivity, growth, and national income. And terms of trade have improved through lower dependence on foreign oil and higher net overall export...

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