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| Economy |
| AmericaÂ’s Vast Energy Resources |
| 2011-12-07 |
| h/t Instapundit For a long time, the Left has gotten away with underselling America’s energy resources. The old chestnut that the U.S. uses 25% of the world’s oil but only has 2% to 3% of the world’s oil reserves has been repeated endlessly by Barack Obama and many others. This claim fooled millions of people who didn’t understand that in the U.S., “reserves” means petroleum that is 1) legally available for development, and 2) profitably extracted at current prices. So if Democrats would stop preventing drilling, we could vastly increase our “reserves,” as legally defined, overnight. Happily, the publicity that has recently been given to massive shale oil and natural gas deposits in North Dakota, Pennsylvania and elsewhere has awakened many Americans to the fact that our energy resources are truly vast–greater, in fact, than any other country’s. The point is driven home by a new report that has just been released by the Institute for Energy Research. |
| Posted by:g(r)omgoru |
| #1 Not to mention coal and its 'active' ingredient - thorium. |
| Posted by: Anguper Hupomosing9418 2011-12-07 15:07 |