This is the Cato Daily Podcast for Monday, October 8, 2012. I'm Caleb Brown.

The President's so-called War on Oil must confront facts now and again, and the facts don't support the claims that the

president is actively working to raise the price of oil.

Cato Institute Senior Fellow Jerry Taylor comments. If we're going to talk about this war on oil in the Obama administration,

the first thing you want to do is know what's happening to oil production in the United States.

Well, it turns out to oil production in the United States.

Well, it turns out that oil production in 2008 was about 5 million barrels a day in the United States.

Today it's about 5.7 million barrels a day.

So oil production is up and not down. So first of all one might

think some war. Of course maybe it would be greater if the Obama administration

were to get out of the way. The Romney administration points to oil production on federal

lands which is down 14% last year, as evidence that the Obama administration is

strangling production. But oil production is up 11% over the entire course of the Obama administration relative to the Bush administration.

So there was a drop last year, but on the whole, oil production on federal lands is up and not down under the Obama regime.

Most of that decline last year occurred from,

or in 2011, occurred from declines

in offshore oil production.

Onshore oil production in the United States

on federal lands actually went up.

It's offshore, it went down.

So why did that happen?

Well, it turns out bad weather was one reason.

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