He is on TV right now saying "domestic oil production is the highest it's been since 2003. So let's not have any Republican carping about lack of oil exploration." Might be that existing wells are pumping hard, but Obama didn't say a word about the shut down of drilling permits since the Deepwater Horizon disaster, despite a court order to resume permitting.
He also said that new wells won't come on line for many years. What he didn't say is that oil prices will drop as soon as the market hears that the Americans are bringing new fields to market.
Question: How can you tell when a politician is lying?
Answer: When his lips are moving.
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