Happy Tuesday to ya. This is a GREAT Article. It really is. Just one problem, which it even admits. It's by News Chief - What U.S. energy crisis? Published: Monday, March 26, 2012 at 6:28 a.m.
Every election year, the politicians take malicious delight in panicking Americans with lurid predictions of an imminent energy crisis: We're running out of oil. We're running out of natural gas. The oil sheikhs will be dictating how we run the country.OK remember this. To say we need to Elect a Politician to CHANGE Obama's Energy Policies is nonsense? We will look at this again in a few seconds.
The solution, of course, is always to elect the politicians making the charges. It's all nonsense.
A March 20 Wall Street Journal commentary by Citi's top commodities researcher, Ed Morse, contends that "in energy, North America is becoming the new Middle East."Now this is true. However, a bit misleading. This is IN SPITE of Obama's War on Energy. His outright hostility to anything Oil, Natural Gas, and Coal. IN SPITE of Obama standing in the way, we have been able to do this. Imagine what we could do if he would get OUT of the way.
That might have been an overstatement, but not by much.
The U.S. and Canada's proven reserves of oil and natural gas are increasing at rates that would have been considered fantasy only a few years ago.
The conservative calculations of the Energy Information Administration said oil reserves increased 8.6 percent from December 2008 to December 2009 and natural gas reserves rose 11.3 percent — and those were economically down years when exploration would presumably slow down.
Natural gas reserves reached their highest level since 1971.
Proven reserves are those that the EIA deems reasonably recoverable given existing technology and economic conditions.
Of course, the technology is constantly improving and high demand makes the recovery profitable.
And then there are new discoveries, like the Bakken Field underlying almost all of North Dakota and parts of South Dakota and Montana. It is estimated to hold 481 billion barrels of oil.
Indeed, because of our refining capacity, the United States became a net petroleum exporter last year for the first time since 1949.
In The Wall Street Journal, Morse writes, "The United States has become the fastest-growing oil and gas producer in the world, and it is likely to remain so for the rest of this decade and into the 2020s."
Canada is enjoying a similar boom in production and explorations. And one can hope that the overregulation and underinvestment restricting production in Mexico and Venezuela won't last forever.We would profit greatly from and WITH them if Obama would allow the Keystone Pipeline to be fully built. He is NOT. HE is standing in the way of this also.
In the United States, it would help if the federal government wouldn't get distracted by uneconomic and wasteful incentives for ethanol, electric cars, wind mills that chop up great numbers of birds for tiny contributions to the electricity grid and schemes for extracting fuel from random plants.OBAMA!
The government's efforts should be directed to research, investment and regulation to insure that this energy, which our economy must have, is extracted cleanly and safely.OK, so? "The solution, of course, is always to elect the politicians making the charges. It's all nonsense?" THAT is nonsense. It is OBAMA that said the Coal Industry would go Bankrupt, and he was proud about that. It is Obama that said he likes $4.00 plus a gallon Gas. It is HIS Administration that said we need to find a way to INCREASE our Gas Prices to those of Europe. They have of course backed off that. It is OBAMA that put into place Moratoriums both actual and de facto, that have cost America hundreds of thousands of Jobs. It IS Obama standing in the way of the Keystone Pipeline. Oh, he attempted to take credit for that of which he could not stop if he wanted to, and what he has no say on, but he IS blocking the Majority of it for no other reason than Politics.
The "new Middle East" sounds pretty good energy-wise, but we'd just as soon skip the political turmoil. With the coming election, we have a surplus of our own.
It IS OBAMA who keeps throwing hundreds of Billions of Dollars into Companies that do nothing but line the Pockets of their CEO's, fire Employees, produce NOTHING, and go out of business. No folks, it's NOT nonsense. It's FACT! We need someone in Office that understands REALITY, and is committed to doing what we need to do. Forget the Gas Prices, that we KNOW from History WILL go down. Forget the new Jobs it WILL create, that we know from History. We are talking nearly if not more than a TRILLION dollars in NEW REVENUE that it WILL generate. We have a President that just says no. While saying NO, continues to spend more money. Think about that.