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Fox News’ Cavuto applauds oil and gas achievements, chides Obama

BY KURT ABRAHAM, Executive Editor

HOUSTON -- While congratulating the upstream oil and gas industry on being a lynchpin of the U.S. economy, Fox News personality Neil Cavuto today also took some digs at President Barack Obama for impeding the industry’s progress at every turn. “You’re doing so well, despite Washington’s best efforts,” quipped Cavuto. “Only in this country, after the industry has perfected fracing, can the government say ‘screw you,’ instead of ‘thank you.’”

Cavuto is the senior vice president for Business News at Fox. In addition to being an anchor and managing editor of the Fox Business Channel, he is host of the “Your World” program on Fox News Channel during weekday afternoons. Cavuto’s comments were made at a Houston luncheon hosted today by Washington, D.C.-based Institute for Energy Research. Noting that Obama seemed to be following him around by traveling to Austin, Cavuto took a jab at the President trying to talk about jobs. “The President is in Austin today, talking about creating jobs—at least he’s in the right state to talk about it,” joked Cavuto. “As you can see, he’s not in Illinois (Obama’s home state), which is now 50th out of 50 states for job creation.” Referring to Obama’s constant harassment of the oil and gas industry, Cavuto added, “I think it’s ironic to talk about jobs, when all the jobs have come despite what he’s done.”

Lauding the industry for its technological advancements, on display this week at the Offshore Technology Conference, and bolstering of U.S. oil production, Cavuto pointed out that “we (the U.S.) have misplaced our success stories. Most of the mainstream media are not reporting your achievements.” He continued, “The largest share of tax receipts has come from the energy industry. The largest growth in jobs has come from the energy industry.” Cavuto told the crowd that oil and gas activity is the last remaining firewall between moderate prosperity and much more dire economic consequences. “We’re down pretty much to you guys, as wealth creators and job creators. But even that is at risk.”

Cavuto took issue with the Obama administration’s constant support and funding of so-called green energy, when so many companies in that sector have already failed. “You would think that after failing for the third time, that the administration would say, ‘that’s enough of that,’ but they don’t.” He went on to say that the total value of money offered by Obama to green energy companies that have failed is now $11 billion. Cavuto said that some of the more prominent failures or near-failures include First Solar ($1.46 billion), SunPower ($1.2 billion), Solyndra ($535 million) and Fisker Automotive ($529 million), among others.

Cavuto told the crowd that the industry could be doing more to help itself. “Your industry has a P.R. problem,” said Cavuto. “You’re going to have to be more proactive. No one is going to tell your story but you. It doesn’t hurt to brag about how you’ve created wealth and jobs.” Summing up the industry’s current situation, Cavuto advised the crowd to “frac what you can out of the nonsense that you’re given.”

05/09/2013

 

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