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| Home Front: Culture Wars |
| Energy Revolution 2 |
| 2012-07-17 |
| h/t Instapundit ...By some estimates, the United States has more oil than Saudi Arabia, Iraq and Iran combined, and Canada may have even more than the United States. A GAO report released last May (pdf link can be found here) estimates that up to the equivalent of 3 trillion barrels of shale oil may lie in just one of the major potential US energy production sites. If half of this oil is recoverable, US reserves in this one deposit are roughly equal to the known reserves of the rest of the world combined. ...Domestically, the energy bonanza changes the American outlook far more dramatically than most people yet realize. This is a Big One, a game changer, and it will likely be a major factor in propelling the United States to the next (and still unknown) stage of development — towards the next incarnation of the American Dream. |
| Posted by:g(r)omgoru |
| #5 US oil production after decades of decline began to rise in 2005. Anyone who could read a graph knew something was happening. |
| Posted by: phil_b 2012-07-17 17:53 |
| #4 There's a lot to read at the link, and a lot of interesting comments, including a bit of back-and-forth among the blue-sky and gloom-doom groups. |
| Posted by: Bobby 2012-07-17 12:54 |
| #3 The only way we're going to move forward is if we get rid of the power-hungry tics who are draining us dry from DC and Blue-Model state houses across the country. Orion |
| Posted by: Orion 2012-07-17 11:14 |
| #2 Disagree, BP. The current USA elites are neither smart, nor tough enough, to retain power in fluid Economy. In particular, given the fact that all of this new oil wealth/power is in private hands so far. |
| Posted by: g(r)omgoru 2012-07-17 06:59 |
| #1 Hmm, I doubt it. The economy really grows on comparative advantage, and a prerequisite of that is to control your own time (which is harmed by income based (and deferred income i.e. sales) taxes). With the bureaucrats controlling so much of the economy I think the oil will be squandered. |
| Posted by: Bright Pebbles 2012-07-17 06:28 |