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I would have to see some hard numbers regarding reserves and production capacity.

Here is also something to consider - how is the President going to keep that oil in America? It is a global market run by global companies. If they can sell it for more in China then they will. Cheap gas will simply increase global demand.

Which raises another point - what reason do the oil companies have to go along with Newt’s plan?

The way Government gets involved, and mostly what Newt is talking about, is to remove the EPA from the process, deregulate all the ridiculous compliance and environmental studies that are designed to take years.

Next, remove all the heavy taxes on the product and fund roads like they are being funded for now, with regular tax revenues. The “road tax” on fuel has never worked, and not one dime of that tax ever went to build or repair a road.

Finally, the very biggest thing they can do, is actually approve a refinery or Nuclear Electric plant or two to be built, and remove that massive restriction to supply.

And yes, absolutely, a President has massive powers at hand to make this happen immediately through emergency executive order.

I would have to see some hard numbers regarding reserves and production capacity.

Did around in the following link and you’ll probably find some numbers.

http://www.eia.gov/petroleum/reports.cfm?t=68